Precious Metals

January bullion coin sales step up for silver product

U.S. Mint’s sales of 2024 American Eagle 1-ounce .999 fine silver dollar bullion coins to authorized purchasers started  strong, with 4.9 million coins sold in January.

This compares to 3,949,000 of the silver bullion coins sold to authorized purchasers in January 2023.

For all of 2023, the U.S. Mint sold a total of 24,750,000 American Eagles silver bullion coins. The record sale year was 2015, when 47 million American Eagle silver bullion coins were reported sold.

Coins struck for bullion sales are produced without a Mint mark on planchets that are not burnished as those for collector Uncirculated coins are.

The U.S. Mint does not sell bullion coins directly to individual customers. Rather, authorized purchasers, large bulk dealers, buy quantities of the bullion versions of gold American Buffalo and gold, silver, platinum and palladium American Eagles from the Mint.

Purchase prices include the spot price of the given precious metal on the day of purchase, plus a premium. Minimum order requirements depend on the precious metal involved. These buyers in turn sell the coins to other dealers and individual purchasers for a markup.

A list of the 10 firms the U.S. Mint currently authorizes to purchase its bullion coins is found on the Mint’s website at https://catalog.usmint.gov/coin-programs/bullion-authorized-purchasers.html.

American Eagle gold coin

For January 2024, the U.S. Mint recorded sales of 119,500 ounces of the American Eagle .9167 fine gold bullion coins — 84,000 in 1-ounce $50 coins; 12,500 ounces in half-ounce $25 coins (25,000 coins); 11,500 ounces in quarter-ounce $10 coins (46,000 coins); and 11,500 ounces in tenth-ounce gold $5 coins (115,000 coins).

For all of calendar year 2023, American Eagle gold bullion coin sales totaled 1,899,000 ounces — 924,000 in 1-ounce gold $50 coins; 51,000 ounces in half-ounce $25 coins (102,000 coins); 49,500 ounces in quarter-ounce $10 coins (108,000) coins; and 67,500 ounces in tenth-ounce $5 coins (675,000 coins).

American Buffalo gold coin

The American Buffalo 1-ounce .9999 fine gold $50 coin recorded sales of 46,000 coins in January 2024, compared to 59,000 coins in January 2023.

For all of 2023, Mint sales totaled 387,000 coins.

American Eagle platinum, palladium bullion coins

During 2023, the U.S. Mint recorded sales of 12,700 American Eagle 1-ounce .9995 fine platinum $100 bullion coins, compared with the 80,000 coins sold in 2022.

Mint plans for offering 2024 American Eagle platinum bullion coins, including  how many coins it expects to produce, are not yet revealed. Neither is there any word yet on how many American Eagle 1-ounce .9995 fine palladium $25 coins will be produced and with what finish, whether for collector sales or for the bullion program.

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