Precious Metals

American Eagle silver $1 allocation again reduced, most purchased

The U.S. Mint's authorized purchasers appear poised to purchase whatever weekly allocation the bureau provides them.

Images courtesy of APMEX.

The U.S. Mint once again reduced its weekly allocation of American Eagle 1-ounce silver bullion coins to authorized purchasers Sept. 21, providing only 750,000 coins.

The authorized purchasers placed orders for 544,500 of the available coins soon after the allocation announcement.

The Sept. 21 sales brought September's monthly sales total to 2,599,000 coins. Cumulative calendar-year 2015 sales have reached 34,849,000 coins.

The Mint's allocation for the week of Sept. 7 was 1 million coins; for the week beginning Sept. 14, the number of coins made available was 809,500 coins. Orders in each of those weeks consumed the entire allocations.

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American Eagle silver bullion coin sales in 2015 are on track to break the 2014 record of 44,006,000 coins, with the pace inhibited only by the reduced allocations.

American Eagle silver bullion coins are not sold directly to individual consumers. Instead, they are sold to a network of authorized purchasers who offer a two-way market buying and selling the coins. The authorized purchasers buy the coins from the Mint for the closing London PM spot price per ounce on a given day plus a premium of $2 per coin. The coins are then resold for a small markup to other dealers and customers.

The Mint has approved 12 authorized purchasers for American Eagle silver bullion coins, nine of which are in the United States, two in Germany and one in Luxembourg.

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