Silver Prices Drop, Ending Two-Week Winning Streak

U.S. silver prices tumbled on Friday, erasing prior day gains and cementing a weekly loss.

Silver was on a roll this week until the Chicago Mercantile Exchange (CME) announced an increase in silver margins from $5,000 to $6,000.

The news triggered an after-hours selloff on Tuesday which continued into Wednesday and sank prices by $2.04, or 7.1 percent — silver’s biggest one-day loss since December 2008. Read More…

2010 Proof Silver Eagle Coins Not Sold Out

A selection of U.S. Mint customers received a jolt this week after they were notified in an email that their 2010 Proof Silver Eagle subscription was placed on backorder. A second email then came a few days later saying their order had been canceled because the silver coins had sold out.

The two messages were actually sent in error. The 2010 Silver Eagle is not sold out.

The Mint later confirmed that fact in a third email sent to customers later Thursday stating: Read More…

US Mint Sales: Silver Eagle Coins Top 29M, Silver Proof Sets Dip Slightly

Sales for 2010 Silver Proof Sets gently tapered, while scorching hot silver bullion demand lit up again. In all, the United States Mint weekly sales report revealed a shining recovery for all but one, aforementioned, silver product.

It was another impressive week for bullion Silver Eagle coins. From Thursday to Tuesday, U.S. Mint authorized buyers picked up 660,000 coins. The addition moved November’s silver bullion total to just under one million. It arrived at 915,000. Year-to-date sales winded up at 29,545,500, which is 779,000 more than 2009’s record of 28,766,500. Plus, more purchasing will be expected since November has historically been one of the strongest months of the year for the series. Read More…

500 oz Cast Silver Bar Added to Kitco’s Product Portfolio

Kitco Metals Inc. recently announced the addition of a new silver product to its portfolio, the Kitco 500 oz Cast Silver Bar.

The bar is not only unique in size, but it is also minted from .9999 pure silver. Most silver bars have an upper purity of .999 fine. Read More…

Silver Prices Near $27, Surge 8.9% in Week and 58.8% in 2010

U.S. silver prices surged 8.9 percent this week and settled at a fresh 30-year high for a second straight Friday.

The metal kicked into high gear Thursday, one day after the Federal Reserve announced new quantitative easing measures in an attempt to kick-start the American economy. Investors are betting that those measures will weaken the U.S. dollar and eventually spark inflation, making commodities like silver more attractive. Read More…

2010 Silver Eagle Bullion Coin Sales Leap to Annual Record

As of Thursday, November 4, the United States Mint had sold more American Silver Eagle bullion coins in 2010 than in any other year of the coin’s history.

U.S. Mint buyers ordered 3.15 million of the .999 fine silver coins in October, breaking a streak of four straight monthly declines. October sales combined with the already 255,000 sold in November (150,000 of those on Thursday) lifted 2010 Silver Eagle bullion coin sales to 28,885,500. Read More…

US Mint Sales: 2010 Silver Proof Sets Pass 400K

Silver demand turned 180 degrees in one week, according to the most recent sales report from the United States Mint. End of month sales slowed for numismatic products, but the silver sets made headway on some milestones.

First, the 2010 Silver Proof Set, which launched on August 26, cleared the 400K marker by picking up 10,343 and taking its total from 398,055 to 408,398. Read More…

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