Sales continue to climb for American Eagle silver bullion coins
- Published: Aug 19, 2015, 7 AM
Sales of American Eagle silver bullion coins from the U.S. Mint continue to chug along as coins available are still being rationed to authorized purchasers.
Allocation of sales of the 1-ounce, .999 fine silver bullion coins has continued for several weeks as the Mint works to keep production at the West Point Mint ahead of demand and build inventory.
For the week beginning Aug. 17, the number of coins available for allocation was 1,187,500, according to Tom Jurkowsky, director of the Mint's Office of Corporate Communications.
Sales figures posted on the Mint's website indicate the authorized purchasers bought 1,102,800 of those coins on Aug. 17 and 18, leaving just 84,700 to be purchased before the next allocation on Aug. 24.
Through Aug. 18, the Mint recorded total American Eagle silver bullion coin sales at 30,597,500 coins.
The Mint does not sell American Eagle bullion coins to the general public. The coins are sold through a network of authorized purchasers, who offer a two-way market for the coins. These qualified firms purchase the coins from the Mint for the closing spot price of silver per troy ounce on the London market, plus a premium of $2 per coin.
The firms may then add a further markup and directly sell the coins to other dealers and other purchasers.
Currently, all American Eagle silver bullion coins are being struck at the West Point Mint. The bullion coins do not bear a Mint mark.
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