Weekly American Eagle silver coin allocation update

By Paul Gilkes

Published: Oct 14, 2015, 5 AM

Silver American Eagle bullion coins remain strong in demand as authorized purchasers acquired the bulk Oct. 13 of the U.S. Mint's weekly allocation of 1 million coins.

Original images courtesy of APMEX.

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.