Precious Metals

Silver Eagle sales more than double in October

Sales by the U.S. Mint of American Eagle 1-ounce .999 fine silver bullion coins more than doubled in October from September levels.

The 3,825,000 silver dollar bullion coins recorded sold to authorized purchasers is the highest number since 4,498,500 coins were sold in May. The U.S. Mint sold 1,675,000 silver American Eagles in September. Through Oct. 31, the U.S. Mint recorded cumulative sales of 34,400,500 of the coins.

American Eagle gold bullion coin sales for October also increased compared to September, with only the tenth-ounce gold $5 recording lower sales.

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Cumulative American Buffalo gold $50 coin sales are down compared to 2015.

Silver American Eagles

In early 2016, American Eagle silver dollar sales were on pace to break the 2015 record of 47 million coins sold. However, sales, which had been selling out their weekly allocation for more than seven months, began to slow in mid-June 2016, and unsold inventory began to build.

The Mint sold 2016’s first weekly allocation of 4 million coins within four days of their Jan. 11 availability. Allocations were restricted to roughly 1 million coins weekly, nearly always selling out to sustained demand during the first six months of the calendar year.

However, changes in market forces, including an increase in silver prices, led investors to change their status from buyers to sellers. Authorized purchasers and secondary market distributors soon found themselves with sufficient American Eagle silver bullion coin inventories to meet customer demand. As their buying slowed, the Mint, with increasing inventory, subsequently lifted its weekly sales restrictions.

During 2015, by the end of October Mint sales of American Eagle silver bullion coins totaled 39,842,500 — 5,442,500 more coins than have been sold in the first 10 months of 2016.

Gold American Eagles

American Eagle gold bullion coin sales in October increased to 116,000 ounces, the highest level of ounces sold in one month since January 2016. Cumulative sales through Oct. 31 total 808,000 ounces — 104,000 ounces more than were sold during the same period in 2015.

By the end of October 2016, the Mint sold 665,500 ounces of American Eagle 1-ounce gold coins, 32,000 ounces in half-ounce coins (64,000 coins), 33,000 ounces in quarter-ounce coins (132,000 coins), and 77,500 ounces in tenth-ounce coins (775,000 coins).

Gold Buffalo bullion

October sales of American Buffalo 1-ounce .9999 fine gold coins increased to 28,500 coins, the highest monthly sales since January, and 2016 sales through Oct. 31 of the American Buffalo coins reached 177,500 coins. However, during the same 10 months in 2015, the Mint recorded sales of 181,000 coins.

America the Beautiful 5-ounce silver coins

The U.S. Mint has released four of the five America the Beautiful 5-ounce .999 fine silver bullion quarter dollars scheduled for 2016, with only the Fort Moultrie (Fort Sumter National Monument) coin left to be issued.

The Mint has sold a combined 249,400 of the four already released 2016 coins: 105,000 of the Shawnee National Forest coin, 75,000 of the Cumberland Gap National Historical Park coin, 36,500 of the Harpers Ferry National Historical Park coin, and 32,900 of the Theodore Roosevelt National Park coin.

For historical sales of the 5-ounce silver bullion coins, beginning with the 2010-dated coins, visit here.

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