Tuesday, June 1, 2010

Silver Investing - Silver Eagles May 2010

The U.S. Mint reported that Silver American Eagles produced in May totaled 3,636,500 - a little short of the four million mark. Year-to-date, production of one-ounce Silver Eagles have totaled 15,167,500. The U.S. Mint is pumping out over 3 million silver eagles a month! The "poor man's gold" is being discovered by more and more Americans (which is a good thing).

Regarding U.S. gold bullion coins, 190,000 one-ounce Gold American Eagles were produced in May for a year-to-date total of 521,500. 24k-Gold Buffalo coins for May were reported at 70,500. The U.S. Mint has only been producing Gold Buffaloes for two months so far this year and sales year-to-date are already at 127,000. It will be interesting to see how many more months these coins will be available since they seem to run out of 24-karat blanks quickly.

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