Strong demand in silver results in U.S Mint temporarily selling out of bullion Eagles

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March 1, 2019 3:10pm NYSE:SLV

long and stacked silver bars

From Numismatic News: The big news this week from the U.S Mint is a temporary sellout of 2018 and 2019 silver bullion Eagles due to market fluctuations.

Sales over the past week trended way up from the previous week, causing inventory to run out. So far this month, 2,157,500 silver Eagles have sold, compared with just 942,500 in February 2018 – a 118% year-over-year increase.

The Mint issued a statement that the West Point facility is currently producing additional 2019-dated American Eagle silver bullion coins, and it hopes to re-launch sales in a few weeks.

The iShares Silver Trust (SLV) was trading at $14.28 per share on Friday afternoon, down $0.35 (-2.39%). Year-to-date, SLV has declined -10.69%, versus a 5.49% rise in the benchmark S&P 500 index during the same period.

SLV currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #9 of 35 ETFs in the Precious Metals ETFs category.

This article is brought to you courtesy of Numismatic News.

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