According to the latest U.S. Mint figures, Silver Eagles are showing no let-up in popularity. Total Silver Eagles produced for March came in at 3,381,000. Add to that January's total of 3,592,500 and February's total of 2,050,000 and you have a first quarter 2010 total of 9,023,500 (total Gold Eagles for the first quarter are 271,000). Those are huge numbers.
The Silver Eagle program was started in November of 1986, so it's not that far away from the 25 year anniversary. The first quarter 2010 Silver Eagle total is the best single quarter in the history of the program so far. It will be interesting to see what the second quarter brings.
With that many Silver Eagles floating around, you would think the premium over the spot price of silver wouldn't be that high. But it is. In checking with a major precious metals dealer, the current quoted price per Silver Eagle is 17% over spot! So if you want to invest in American Silver Eagles, it pays to shop around among several dealers to get the best price.
Saturday, April 3, 2010
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