March a Record-breaking Month for American Eagle Silver Coin Sales

In 2013, investors watched as the US Mint broke record after record for American Eagle silver coin sales, eventually selling 42,675,000 of the coins, 26 percent more than it sold in 2012 and a new yearly record.

While this year hasn’t been quite so eventful, March did see the Mint sell 5,354,000 silver American Eagles — that’s 30 percent more than it sold in February and 59.5 percent more than buyers snapped up during March 2013, as per CoinNews.

Why are sales up?

Shedding some light on why American Eagle silver coins sold so well in March, Sprott Money Blog identifies low silver prices caused by the US Federal Reserve’s statement that it ”may consider raising interest rates sooner than previously expected” and the “ongoing slowdown in China” as two potential catalysts.

The “increasingly precarious situation that the world finds itself in due to rising tensions over the Russian-Crimea crisis” is also driving physical silver demand, the publications states in another article.

What’s more interesting is the fact that sales of the coins could have been even higher.