Just four other months in the series of American Eagle silver coins scored stronger sales than March 2014.
By Darrin Lee Unser
Silver traded sharply lower in March yet still managed an overall gain for the quarter thanks to an extremely strong preceding month.
On a related note, sales of United States Mint bullion silver coins continued at high levels, marking already the second time this year that a month has attained an all-time top five monthly showing.
Trading for March ended on Monday with silver futures shedding another 3.8 cents. The decline was not surprising, however, as the precious metal has been tallying negative numbers for much of the month.
Despite the fall, the first quarter of the year remained in positive territory for the white metal. Floated by February’s 11.1% gain, the quarter for silver finished up 2% with an improvement of 38 cents per ounce. Silver prices fell 1.3% in January.
Other precious metals futures on the last day of the month and their percentage changes for March and the quarter include:
London Fix Silver Prices
The London silver fix posted a 26-cent gain on the final day of March to end at $19.97 an ounce. Despite that last-minute increase, London figures still have the precious metal down for the month by $1.30 an ounce, or 6.1%.
First quarter figures for London fixings place the precious metal up 47 cents. This is a gain of 2.4% from the December 31 silver fix of $19.50 an ounce.
Rounding out London precious metals fixings for the month and the first quarter and year to date:
Bullion American Silver Eagles remained hot in March despite a rationing program still in place from the United States Mint. The Silver Eagles recorded sales of 4,476,000 for the month, ratcheting it up to the number five spot for best ever monthly sales, as shown in the chart below:
Top 5 Monthly Sales of American Silver Eagles
Rank 1 January 2013 7,498,000
Rank 2 January 2011 6,422,000
Rank 3 January 2012 6,107,000
Rank 4 January 2014 4,775,000
Rank 5 March 2014 4,476,000
The monthly total surpasses February sales of 3.75 million coins and year ago same time sales of nearly 3.36 million coins.
With two months of the year already in record territory, 2014 is shaping up to be a formidable period with year to date bullion American Silver Eagle sales at 13,001,000. Going back to the start of the silver coins in 1986, the quarter only falls behind 2013 with its first quarter total of more than 14.2 million coins.
Sales of America the Beautiful Five Ounce Silver Bullion Coins
2014 America the Beautiful Five Ounce Silver Bullion Coin sales reached 12,200 for March. These mark the debut sales of the year for the five ounce program as the coin honoring Great Smoky Mountains National Park in Tennessee launched on March 17. Four more 2014-daed bullion five ounce silver coins are set to launch this year.
Source: Silver Coins Today
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