UPDATE 1-US Mint silver Eagle coin sales hit monthly record

* US Mint's silver Eagles hit record 4.6 mln oz in Jan.

* Silver product sales approaching Q4 2008 level-dealer

* Silver prices drop (Recasts, updates with comment from coin dealer, details, adds byline)

By Frank Tang

NEW YORK, Jan 19 (Reuters) - Sales of the U.S. Mint's American Eagle silver coins have already hit a monthly record in January as prices have declined enough to attract buyers seeking exposure in precious metals and those who expect industrial demand for silver to grow.

Sales of the popular one-ounce silver American Eagles rose to 4.6 million coins so far in January, the Mint's website showed on Wednesday. That makes for an all-time monthly high since the coin's introduction in 1986, with more than 10 days left in the month.

The previous record was 4.3 million in November.

David Beahm, vice president of U.S. retail gold coins dealer Blanchard & Co, said sales of silver products are close to the level they hit in the fourth quarter of 2008 during the worst financial crisis since the Great Depression.

But he said that while demand in 2008 was prompted by the search for a safe haven from collapsing financial markets, now demand is being fed by hopes for a strong recovery.