This week, we heard news that Silver eagle sales for March hit a record. And the month's not over yet.
Here's a chart of U.S. silver eagle sales in the early months of 2013 and 2014 ...
You can see that many more silver eagles were sold back in January of last year compared to January of this year. The bullish news is that silver eagle sales picked up in February of 2014 and again in March.
However, there's a good reason that silver sales dropped in January year over year. There simply weren't any more to sell.
What happened was the US Mint didn't start selling the 2014s until the end of the second week in January. What's more, authorized dealers bought every allocated silver eagle they could get their hands on that month. So, they literally couldn't buy more than the 4,775,000 silver eagles they bought in January of this year.
All in all, this seems pretty bullish, at least for silver sales in the United States.