Record retail silver demand continues
A barometer of retail demand, US Mint Silver Eagle coin sales set a record in 2013 and 2014 is seeing no let up at all. As the US Mint can’t keep up to demand it limits sales by the week in allocations to authorised distributors. In January they sold 4.8m coins and for the last several weeks of 2014 they have sold 80-90% of weekly allocations in the first day of the week. Interestingly too the ratio of silver to gold eagles sold is up to 70:1 year to date, so people are investing more dollars into silver than gold. So whilst China is taking the spot light on extraordinary physical gold demand, retail silver sales are telling the same story.