Precious Metals

Nearly 75 percent of platinum American Eagles sold

During the month of February, the U.S. Mint's authorized purchasers bought another 2,400 of the 2019 American Eagle 1-ounce .9995 fine platinum coins, bringing cumulative totals for 2019 to 29,500 coins.

The Mint has limited itself to a 40,000-coin maximum mintage for the 2019 coins. Mint officials indicated that an initial 30,000 coins were produced in advance of the Jan. 7 sales launch date, with another 10,000 pieces to be minted when the first 30,000 coins are sold.

Inside Coin World 1866 Shield 5-cent coinInside Coin World: The two 1866 5-cent coins with different alloys: Two different 1866 5-cent coins and Arkansas paper money that was redeemable in bacon, among other things, are among the subjects of columns in the March 25 Coin World.

The number of American Eagle silver bullion coins sold in February was 1.86 million fewer pieces than sold in January, a sales decline that resulted, at least in part, from the fact that the Mint had no more coins in inventory to sell. February sales of 2,157,500 coins exhausted the Mint's inventory after 4,017,500 coins were sold in January.

The U.S. Mint temporarily suspended American Eagle silver bullion coin sales Feb. 21 to allow the West Point Mint to replenish inventory. U.S. Mint officials said there were no plans for the San Francisco or Philadelphia Mints to produce any silver American Eagles to help boost the inventory.

February sales of American Eagle gold bullion coins reached 12,500 ounces, compared with 66,000 ounces in January. February sales comprise 11,000 ounce in 1-ounce coins, 500 ounces in half-ounce coins, no quarter-ounce coins and 1,000 ounces in tenth-ounce coins.

Sales of American Buffalo 1-ounce gold coins totaled 6,000 coins in February compared with 23,500 coins sold in January.

The U.S. Mint does not sell the bullion versions of its coins directly to the public. The Mint sells the coins through a group of authorized purchasers who buy considerable amounts of the coins, at prices calculated from the closing London PM spot price of their weight in precious metal on a specific day plus a standard premium.

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