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U.S. Mint Year-To-Date Silver-Coin Sales Hit Record At 40.2 Million Ounces


(Kitco News) - The U.S. Mint said Wednesday silver-coin sales year-to-date reached at record 40.175 million ounces, surpassing the previous record set in 2011.

With authorized purchasers ordering their full weekly allocation of 500,000 American Eagle one-ounce silver bullion coins, the previous record was broken.

“This surpasses the previous annual record sales of American Eagle one-ounce silver bullion coins of 39,868,500 for all of 2011,” the Mint said in a press release.

In November alone, sales reached 1 million ounces. In October the Mint sold 3.087 million ounces of silver; according to the agency’s data, demand has been firm throughout the year, with the biggest sales in January of 7.5 million ounces of silver.

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In September 2011 the Gold Bugs index, the HUI stood at 630 as gold prices peaked, since then both have trended lower with the HUI losing about 65% of its value. The bottom has been called a number of times and after such a dramatic decline its difficult not to think that we are there now. However, as we all know the timing of any investment is crucial to its success and that is exactly what we are trying to do here, trying to pick advantageous entry and exit points. If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

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