Authorized purchasers placed orders Oct. 13 with the U.S. Mint for
845,500 of the 1 million American Eagle silver bullion coins available
for the weekly allocation.
The weekly allocation was announced Oct. 13 because of the
government's closing on Oct. 12, Columbus Day.
The Oct. 13 sales brought the October monthly sales total to 1,920,500 coins and the
cumulative calendar year 2015 tally to 37,975,000.
Sales of the American Eagle silver bullion coins have been on weekly
allocation, off and on, for more than six months.
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The U.S. Mint has a network of 12 authorized purchasers in the United States and
Europe who offer a two-way market buying and selling the silver
bullion coins. The purchasers place orders for the coins at prices
based on the closing PM spot price on the London market on a given day
plus a premium of $2 per coin. They resell the coins for a small
markup to collectors, investors and other dealers.
The American Eagle silver bullion coins are struck at the West
Point Mint but without a W Mint mark.