Out of interest I just had a quick look at Ebay.com to find out how many American Silver Eagle Dollars were being Sold in the US.

I was pleasantly surprised heres what I found (via Terapeak.co.uk):

• Over the last 14 days there were 76 Listings
• Out of these lisitng  93.42% of them sold and they acheived an average price of $16.82!

Then I wanted to find out what the Professionals were saying about American Silver Eagles……..

Quoted from The Silver Institute in Washington, DC, from an article in their most recent Silver News quarterly newsletter:

”The United States Mint sold 28,766,000 American Silver Eagle bullion coins in 2009, an all-time record, 46 percent more than 2008 sales of 19,583,000 of the one-ounce coins.
In addition, American Eagle silver bullion sales revenue increased 21.4 percent from $306.4 million in fiscal year 2008 to $372 million in FY 2009, Mint officials noted.
The rise in demand is coming mainly from consumers who see silver as a storehouse of wealth during financially uncertain times, including inflation and a declining US dollar, as well as silver’s growing industrial use as world economies improve.”

. . . and from a news story posted on the NumisMaster.com website on April 8th:

”How many silver American Eagles must the U.S. Mint offer for sale before buyers have enough?Good question. During the first quarter of 2010, the Mint sold a record 9,023,900 of the one-ounce silver coins, but demand still exceeds supply and the Mint is continuing its allocation process among its authorized purchasers to ration the supply. If sales continue at this pace, more than 36 million could be sold by the end of the calendar year. Such a figure would be up sharply from last year’s 28,766,500 coins, which itself was a record number for a calendar year.”

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Silver gained 3.89% Monday. On Tuesday . . . Silver Rides Gold’s Rally, Could Attract More Buying Interest

12 May 2010, 1:44 p.m. EST By Debbie Carlson Chicago — (Kitco News) –

“Silver has been a side beneficiary of gold’s rally this week, moving to its highest price levels since March 2008 on Wednesday. Often called “the poor man’s gold”, the white metal is acting like a proxy to gold as it set a new all-time high Wednesday. Like gold, those buying silver are doing so on worries that the sovereign risk problems in European can’t be quelled despite massive aid packages by the European Union, European Central Bank and the International Monetary Fund. “People who are afraid they missed the move in gold are coming to silver,” said George Gero, vice president with RBC Capital Markets Global Futures.

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Why Are Silver Sales Soaring? – Casey Research

Here`s how it starts: “The U.S. Mint just reported another record, but this time it wasn’t for gold. The Mint sold more Silver Eagles in March and in the first quarter of the year than ever before. A total of 9,023,500 American Silver Eagles were purchased in Q110, the highest amount since the coin debuted in 1986.

While this is certainly bullish, there’s something potentially more potent developing in the background. Namely, how this matches up with U.S. silver production. Like gold, the U.S. Mint only manufactures Eagles from domestic production. And U.S. mine production for silver is about 40 million ounces. In other words, we just reached the point where virtually all U.S. silver production is going toward the manufacturing of Silver Eagles.”

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