Precious Metals

Sales of platinum American Eagles fall in second month

After 10,000 American Eagle 1-ounce platinum bullion coins were sold by the U.S. Mint in March (following a five-and-a-half-year interruption in production), April sales dipped to 1,200 coins.

Images courtesy of U.S. Mint.

Demand for American Eagle 1-ounce platinum bullion coins dropped off considerably in April after their return in March following a five-and-a-half-year hiatus.

Sales totaled 10,000 coins in March, and dropped to 1,200 coins in April.

Sales of American Eagle gold bullion coins increased in April over the previous month while sales of American Buffalo 1-ounce gold coins remained steady.

In general, gold sales are down from 2013 levels.

Demand remains strong for American Eagle 1-ounce silver bullion coins. Sales are currently on pace to shatter the 2013 record of 42,675,000 coins.

Continued demand remains for the America the Beautiful 5-ounce silver quarter dollars in 2014, but not at the record levels set for some issues in 2011.

Platinum sales resumed

November 2008 was the last month the U.S. Mint sold American Eagle platinum bullion coins to its authorized purchasers before indefinitely ending sales. Sales during that month were restricted to 800 of the 2008 half-ounce $50 coins.

When sales of American Eagle platinum bullion coins resumed in March 2014, sales were restricted to the 1-ounce $100 face value coins only. As noted, sales totaled 10,000 coins in March, but dropped to 1,200 coins in April. 

No additional platinum coins had been sold through May 6.

Before the March 2014 resumption of American Eagle platinum bullion coin sales, the last sales recorded for the 1-ounce platinum bullion coins were 8,600 of the 2008 coins in October of that year.

Gold bullion coins

Gold American Eagle bullion coin sales totaled 38,500 ounces in April — 26,000 ounces in 1-ounce coins, 2,500 ounces in half-ounce coins (5,000 coins), 5,000 ounces in quarter-ounce coins (20,000 coins), and 5,000 ounces in tenth-ounce coins (50,000) coins.

In comparison, April 2013 sales of gold American Eagles totaled 209,500 ounces — 187,500 ounces in 1-ounce coins; 7,000 ounces in half-ounce coins (14,000 coins); 6,500 ounces in quarter-ounce coins (26,000 coins); and 8,500 ounces in tenth-ounce coins (85,000 coins).

In May 2014, through May 6, gold American Eagle sales totaled 2,000 ounces — 500 ounces in 1-ounce coins and 1,500 ounces in tenth-ounce coins (15,000 coins).

Year-to-date totals for 2014 for American Eagle gold bullion coins are 184,000 ounces — 127,000 ounces in 1-ounce coins, 11,000 ounces in half-ounce coins, 15,500 in quarter-ounce coins (62,000 coins), and 30,500 ounces in tenth-ounce coins (305,000 coins).

Cumulative 2014 sales of American Buffalo 1-ounce gold bullion coins reached 85,500 coins through May 6. 

Sales during April 2014 totaled 17,500 coins.

For all of 2013, the U.S. Mint recorded sales of 37,000 of the American Buffalo bullion coins.

Silver American Eagles

Through May 6 inclusive, 2014 sales of American Eagle silver bullion coins totaled 19,173,000 pieces.

Sales averaged 4,617,375 for each of the first four months, putting calendar year sales on a path toward surpassing the 55-million-coin mark should that monthly sales average hold.

During the first four months of 2013, silver American Eagle sales totaled 18,310,000 coins.

January 2013’s sale of 7,498,000 coins is the highest monthly sales total since the American Eagle silver bullion coin was introduced in November 1986.

5-ounce silver quarter dollars

The 5-ounce silver bullion coins are 3-inch, .999 fine silver versions of the 24.3-millimeter America the Beautiful quarter dollars.

2014 is the fifth year for which the 5-ounce silver bullion coins are being offered. Five of the large coins are being offered dated 2014.

Through May 6, sales reached 26,500 for the 2014 Great Smoky Mountains National Park 5-ounce silver bullion coins. The maximum authorization is 40,000 coins.

Mintage limits fluctuate for each issue, according to United States Mint officials, based on projected demand.

Sales began May 6 for the 2014 Shenandoah National Park 5-ounce bullion coins, totaling 14,800 coins.

The highest sales for the program are the 126,700 coins each for the 2011 Gettysburg National Military Park and Glacier National Park coins.

While the maximum mintages of 33,000 for each of the five 2010 coins were sold out, the mintages for the inaugural year were restricted because of a late start in production at the Philadelphia Mint.

The annual America the Beautiful silver coins are the largest bullion coins sold by the United States Mint.

How bullion coins are sold

The U.S. Mint does not offer the bullion coins directly to the public. The Mint instead sells the bullion coins to a network of authorized purchasers, who acquire the coins from the Mint for the spot price of the precious metal on a given day on the London metals market, plus a small premium.

The authorized purchasers may then sell the bullion coins to dealers and the public.

Monthly, cumulative sales totals can be found on the U.S. Mint’s website.


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