Sales Silver Maple Leaf Coins Surged in 2010, Canadian Mint Says
Sales of 1-ounce Maple Leaf silver coins may have touched a record in 2010, according to the Royal Canadian Mint.
About 10.3 million ounces were sold in 2009, and the mint is “on pace” to surpass that level for 2010, Alex Reeves, the agency’s communications manager, said yesterday. Last year’s sales data will be released in late March, Reeves said.
“Demand has exceeded supply, and we are trying to be fair to all our customers by putting caps on the size of the orders,” Reeves said. “We are not going to sell all of our silver to one distributor.” Reeves declined to comment on the specifics of the caps.
Silver has almost doubled in the past 12 months, touching a 30-year high of $31.79 an ounce in New York this week. The U.S. Mint sold 6.4 million ounces of silver in January, the highest monthly total since sales began in 1986.
To contact the reporter on this story: Pham-Duy Nguyen in Seattle at pnguyen@bloomberg.net.
To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.
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