Australia’s newest silver bullion coin is one of the world’s most popular. The Perth Mint announced July 20 that its 2016 silver Kangaroo coin had reached sales of 10 million coins, ranking it among the top five world silver bullion coins.
The United States holds nearly 25 percent of the world's identified gold reserves, based on the latest International Financial Statistics from the International Monetary Fund or IMF. Karus Chains took the statistical data and created a global map pinpointing the 18 countries and two institutions that control 88 percent of the world's gold reserves.
2016 American Eagle 1-ounce platinum bullion coins will be offered for sale by the U.S. Mint to its authorized purchasers beginning July 25 under an allocation system that is based on previous order placements for the bullion coins. The U.S. Mint last offered its platinum bullion coins in 2014.
Authorized purchasers may now order as many American Eagle silver bullion coins as they want after the U.S. Mint lifted its weekly ordering restrictions July 18. The weekly allocations limited the number of coins each authorized purchaser could buy based on their previous buying history.
Silver and gold were among the top 10 investments during the first six months of 2016, according to the Wall Street Journal. Market analyst Mike Fuljenz from Universal Coin and Bullion in Beaumont, Texas, notes that investing in the two precious metals have already gotten off to a strong start in the second half as well.
The U.S. Mint's inventory of unsold American Eagle silver bullion coins continues to climb as authorized purchasers trim orders because of their own rising inventories. The firms that buy the bullion coins from the Mint also buy back the coins on the secondary market. Some have recently purchased significant numbers on the secondary market, as investors dump the...
While June 2016's total is down significantly from June 2015, the total number of American Eagle silver bullion coins sold during the first six months of 2016 is significantly more than the number sold during the first half of 2015.
2016 sales by the United States Mint of American Eagle silver bullion coins during the first six months of the calendar year are 20 percent higher than the same period in 2015. However sales have gradually slowed in the past several weeks, and the spot price of silver has recently topped the $20-per-troy-ounce level.
Driven by increased buying from Asian investors, silver broke through the $21 per troy ounce barrier July 4 before closing on the London exchange at $20.36. The closing PM spot price is the highest since the metal closed at $20.69 per ounce on July 31, 2014.
The first modern silver bullion coin, backed by a major world government with a guaranteed weight and purity and sold at a silver-related price, was the Mexican Onza. Soon other nations like China joined the fold, claiming their part of the global precious metals market.