When Silver prices tumbled from $40 to $30 last month, sales of American Eagle Silver bullion coins soared to second best historical levels, according to Coinnews.net. September sales of 4,460,500 is the second highest monthly sales ever recorded.
September sales exceeded August trade, which came in at 3,679,500 and was bumped down to fifth place among the all-time highest months, and it easily topped sales from the same time last year, which was 1,880,000.
Year-to-date sales by the end of the month stood at 33,411,500, or 1.251 million shy of surpassing the best year for the coins, achieved in 2010 with the annual record of 34,662,500. The top annual spot will be overtaken sometime in October — likely this week, based on current demand trends.
Every American Eagle Silver coin is struck from .999 fine silver and shares the same obverse (heads) and reverse (tails) designs. Three versions are currently available. One is for investors, the bullion coins, and the other two are for collectors. Key differences include the finish and the mint mark. Bullion coins lack a special finish and a mint mark. The numismatic versions have either a proof or uncirculated finish and bear a West Point "W" mint mark.
The coins are also sold differently. The proof and uncirculated collector coins are sold directly by the United States Mint to the public through its website and customer service call centers. Bullion coins, on the other hand, are sold by the Mint to a small group of companies who are known as "Authorized Purchasers" or AP’s. The AP’s then resell the coins to secondary market dealers or to the public for a bit over silver’s latest spot price. source
