American Eagle silver bullion continues sales at record pace
- Published: Oct 7, 2015, 9 AM
For the first time in weeks, the U.S. Mint's authorized purchasers did not buy that week's full allocation of American Eagle silver bullion coins in the first two days of sales. Instead, the U.S. Mint sold 92.6 percent of its weekly allocation of American Eagle silver bullion coins within two days. The coins became available Oct. 5.
The Mint's authorized purchasers were notified that 1,075,000 coins were available, 75,000 more than were offered the previous week. Of the total, authorized purchasers placed orders, altogether, for 699,000 on Oct. 5 and 296,500 on Oct. 6. None of the remaining 79,500 coins from the weekly allocation were sold on Oct. 7.
In recent weeks, the authorized purchasers have been buying the Mint's entire allocation of the silver bullion coins in the first or second day of sales.
The weekly sales brought the Mint's cumulative year total to 37,050,000 coins.
Record sales of 44,006,000 American Eagle silver bullion coins were reported in 2014.
American Eagle silver bullion coins are not sold to the general public. They are sold to a network of 12 authorized purchasers in the United States and Europe for resale to other dealers and the public at a small markup. The authorized purchasers buy the coins from the Mint for the closing PM spot price of the metal on the London market on a given day plus a premium of $2 per coin.
The Mint's next weekly allocation of American Eagle silver bullion coins will be announced Oct. 13, since the federal government will be closed for Columbus Day.
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