Precious Metals

American Eagle silver bullion demand doubles in May

Demand for American Eagle silver bullion coins from the U.S. Mint in May is more than double April’s level, and the month isn’t over yet.

Through May 25, the U.S. Mint recorded sales to its authorized purchasers of 2,155,000 of the American Eagle 1-ounce .999 fine silver bullion coins, compared with 835,000 coins in April and 1,615,000 pieces in March. Sales in January, the first month when 2017 coins were available, sales totaled 5,127,500. February sales reached 1,215,000 coins.

Legitimate gold coin resistance from the U.S. MintGold coin resistance at U.S. Mint and a deceptive but detectable counterfeit Indian Head cent: Another column in the June 12 Coin World details the discovery of what seemed to be a rare 1917 French Indo-China 10-cent piece.

During the same months in 2016, the Mint reported sales of 5,954,500 coins in January, 4,782,000 in February, 4,106,000 in March, 4,072,000 in April and 4,498,500 in May.

The authorized purchasers who buy the bullion coins from the Mint also sell and buy back the coins on the secondary market. The authorized purchasers buy the silver bullion coins from the U.S. Mint based on the closing London PM spot price of the metal per troy ounce on a given day plus a $2 premium per coin. The coins are then distributed for a further premium to other dealers, collectors and investors.

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For the America the Beautiful 5-ounce silver bullion coins, the cost to authorized purchasers is spot plus $9.75 per coin.

For the gold and platinum bullion coins, the premium schedule can be found here.

American Eagle gold bullion coins

Through May 25, American Eagle gold bullion coin sales in 2017 totaled 451,500 ounces, with 43,500 ounces so far in May. May sales are already 18,000 more ounces than were sold in April. January sales were the highest, with 266,500 ounces recorded sold.

American Buffalo gold $50 coin

Sales for the American Buffalo 1-ounce .9999 fine gold $50 coin so far in May total 4,500 coins. In January 2017 32,000 of the coins were sold, 115,000 in February, 8,500 in March and 3,500 in April. In 2016, for comparison, 34,000 coins were sold in January, 19,000 in February, 7,000 in March, 19,500 in April and 18,500 in May.     

American Eagle platinum $100 coins

The U.S. Mint has already sold out of its initial allotment of 20,000 of the American Eagle 1-ounce .9995 fine platinum $100 bullion coins, with no confirmation from U.S. Mint officials whether more coins will be struck at the West Point Mint for sale to authorized purchasers.

The U.S. Mint’s last two offerings of American Eagle 1-ounce platinum bullion coins, in 2014 and 2016, were also limited. The authorized purchasers absorbed all 14,000 coins offered in 2014 and all of the 20,000 coins in 2016. None were offered in 2015.

America the Beautiful 5-ounce silver

So far in 2017, the U.S. Mint has offered two of the year's five projected 5-ounce silver bullion coins. Sales total 26,100 for the 2017 Effigy Mounds National Monument coin, offered first, and 20,000 of the 2017 Frederick Douglass National Historic Site coin.

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