October demand pushes silver Eagle sales over 36 million
- Published: Oct 22, 2014, 12 PM
The Mint’s authorized purchasers ordered another 715,000 coins Oct. 21, bringing the monthly sales total so far in October to 3,815,000 coins.
Cumulative 2014 sales have reached 36,066,000 of the American Eagle silver bullion coins.
The Mint has been averaging monthly sales topping 3.6 million coins.
If the Mint maintains the monthly sales pace, the calendar year 2014 sales total could break 43 million coins.
The Mint established its annual sales record in 2013 with 42,675,000 coins recorded sold.
The U.S. Mint does not directly sell the American Eagle, American Buffalo, and America the Beautiful bullion coins to the public.
The bullion coins are instead sold through a series of authorized purchasers who buy the coins based on the closing spot price per troy ounce of precious metal on a given day plus a small premium.
The coins are then resold at wholesale and retail prices to other dealers and the public for a small markup.
The U.S. Mint plans to begin sales of 2015-dated coins sometime during the first two weeks of January.