Silver coin minting is expected to increase around 23% this year, to an all-time record, according to data from the Silver Institute and consultancy GFMS.
More than 32-million one-ounce silver coins have already been sold by the US mint this year under its American Eagle Silver Bullion coinage programme, exceeding the 28-million coins sold through the whole of 2009, the Silver Institute commented in a statement on Wednesday.
Should the current pace continue, sales will surpass 35 million coins by year's end, the group said.
Elsewhere, the Royal Canadian Mint has reported a 50% increase in sales of its silver Maple Leaf bullion coins, and similar strong growth is expected for the Australian Perth Mint's silver Kookaburra bullion coin, and the silver Philharmonic bullion coin issued by the Austrian Mint, the Silver Institute said.
Overall, US Mint sales of American Eagle Silver Bullion coins have increased by 223% over the past five years.
"While primarily purchased by investors, we expect to see continued growth in silver Eagle sales through the end of the year, especially with the holiday season approaching," Silver Institute executive director Michael DiRienzo said.
"A leading silver bullion dealer has repeated to us that they have seen a nearly 40% increase in silver bullion demand this year for products ranging from one-ounce coins to 100-ounce bars," he added.
The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C.
Source From: http://www.stone-crusher.org/
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