U.S. Mint June silver coin sales at 4,651,429 ounces – record 2013 likely

Summary: Even though silver is on track for its worst year since 1984, physical demand is at record highs. While it’s down 56% from its 2011 high of $49.80, silver is still up 31.5% over the last 5 years. Concerns about inflation and the strength of an economic recovery are driving record physical demand though. If current trends hold, the U.S. Mint could sell over 4.6 million ounces of silver in this month alone. An analyst from Societe Generale believes silver will outperform gold for remainder of 2013 and that prices will remain resilient despite the economy. If the economic conditions deteriorate, investors will flock to physical silver. If it improves, more industrial buyers will enter the market. Read more…