Silver sales surges as U.S mint runs dry
By Duncan Richardson, News Editor
09 Jul 2015
As the silver price fell to a new 6 year low on Tuesday as physical buying exploded. So much so the U.S. Mint have run out of 2015 American Silver Eagle 1 oz. coins. The Mint which is based in West Point New York confirmed they will continue to mint the coins sales will resume within the next 2 week.
The physical shortage started on Tuesday as the silver price dropped over 5.5% to $14.96 per ounce to settle at new 6 year low. Silver sales at BullionByPost spiked as investors took advantage of the price decline to increase their exposure to the metal.
U.S gold coin sales rose by 10,500 ounces to their highest level since the coin was introduced in January. There appears to be disconnect in appetite between physical buying and the Comex driven paper price.