Precious Metals

Silver Eagles were struck at three Mints in FY 2016

Production at the West Point Mint of the Proof 2016-W American Eagle silver dollar with a special 30th anniversary edge inscription forced the U.S. Mint to shift some production of 2016 American Eagle silver bullion coins to the San Francisco and Philadelphia Mints.

Original images courtesy of SilverTowne.

The U.S. Mint shifted some production of 2016 American Eagle silver bullion coins to the San Francisco and Philadelphia Mints so that the West Point Mint could complete the development and production of the Proof 2016-W American Eagle bearing the special 30th anniversary edge inscriptions.

According to the U.S. Mint’s Annual Report for Fiscal Year 2016, “in order to ensure consistent quality across all production facilities, the three mints had to work closely together to coordinate dies, blanks, assay processes, packaging materials, packaging processes, and shipping schedules.”

Multiple programs

In addition to striking the bulk of the American Eagle silver bullion coins, the West Point facility was also responsible for producing American Eagle gold and platinum bullion coins, American Buffalo gold bullion coins and America the Beautiful 5-ounce silver bullion coins.

During Fiscal Year 2016 — spanning Oct. 1, 2015, to Sept. 30, 2016 — the U.S. Mint recorded sales of 45,163,000 combined ounces of gold, silver and platinum bullion coins, a 4,585,000-ounce decrease from FY 2015.

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Bullion coin revenue from all programs totaled $2,085,300,000 in FY 2016, down from a total of $2,126,100,000 in FY 2015. Net income decreased to $55.3 million, from $61 million.

U.S. Mint officials indicate the decreases in overall bullion revenue from reduced silver demand later in FY 2016 were offset by increased demand for American Eagle gold bullion coins.

The 2016 Annual Report indicated the following sales, by issue and fiscal year, in total ounces of bullion coins:

??2016 — American Eagle gold, 819,000; American Buffalo gold, 199,000; American Eagle silver, 42,446,000; America the Beautiful silver, 1,679,000; American Eagle platinum, 20,000.

??2015 — American Eagle gold, 810,000; American Buffalo gold, 208,000; American Eagle silver, 47,870,000; America the Beautiful silver, 857,000; American Eagle platinum, 3,000.

??2014 — American Eagle gold, 524,000; American Buffalo gold, 178,000; American Eagle silver, 38,285,000; America the Beautiful silver, 683,000; American Eagle platinum, 14,000.

The majority of America the Beautiful 5-ounce silver bullion coins sold in FY 2016 were 2016 Shawnee National Forest coins, with 525,000 ounces.

The sales were the highest since the 2011 releases for Glacier National Park and Gettysburg National Military Park, each of which recorded sales of 633,500 ounces.

The complete 70-page 2016 Annual Report can be found online here

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