With two months left in calendar year 2023, sales by the United States Mint through Oct. 31 of American Eagle 1-ounce .999 fine silver bullion coins are 33% higher than all of 2022.

The 2023 sales, at 21,215,000 coins, are 5,215,000 coins more than the 16 million sold in calendar year 2022.

Sales of 3,306,000 coins made October 2023 the second highest sales month for the year, surpassed only by the 3,949,000 coins sold in January, when the 2023 coins were first offered to the Mint’s authorized purchasers.

U.S. Mint officials have not disclosed when the bureau plans to end production of 2023 bullion coins and begin output at the West Point Mint for 2024 coins.

Gold American Eagles

The total number of ounces of American Eagle .9167 fine gold bullion coins in 2023 is slightly above 2022 sales.

2023 sales through Oct. 31 total 1,017,000 ounces of gold Eagles, versus 980,000 ounces sold for all of 2022.

2023 sales represent 865,000 1-ounce $50 coins; 46,000 ounces in half-ounce $25 coins (92,000 coins); 45,500 ounces in quarter-ounce $10 coins (182,000 coins); and 60,500 ounces in tenth-ounce $5 coins (605,000 coins).

2022 American Eagle gold bullion coin sales tallied 850,000 ounces in 1-ounce coins; 37,500 ounces in half-ounce coins (975,000 coins); 35,000 ounces in quarter-ounce coins (140,000 coins); and 57,500 ounces in tenth-ounce coins (575,000 coins).

Platinum American Eagles

During the first 10 months of 2023, sales of American Eagle 1-ounce .9995 fine platinum $100 bullion coins dropped precipitously from the same period in 2022.

2023 sales total just 12,700 coins through Oct. 31; the coins were offered only during the months of March, April May and June. 2022 sales reached 80,000 coins, with sales completed during the months of February through June.

Gold American Buffaloes

U.S. Mint sales of its American Buffalo 1-ounce .9999 fine gold $50 bullion coin for the first 10 months of calendar year 2023 were 10% less than those in the same period of 2022.

The 2023 sales of 364,500 American Buffalo bullion coins are 41,000 coins fewer than the 405,500 coins sold in 2022.

Premiums

Since the U.S. Mint does not buy back the bullion coins it sells (American Eagle and American Buffalo bullion coins), it does not offer them directly to the public. Instead, a two-way market to buy and sell the bullion releases is provided by authorized purchasers (currently 10 of them — https://catalog.usmint.gov/coin-programs/bullion-authorized-purchasers.html). These firms buy the coins in large quantities from the Mint at prices based on the closing spot price of the precious metal in each coin at the London Bullion Market Association, plus a small premium.

The authorized purchasers then sell the bullion coins into the market at a mark-up.

The Mint assesses a $2.35  per coin premium for silver American Eagles, and a minimum order of 25,000 coins is required.

The premium per platinum American Eagle is $65, and the minimum order is 100 coins. 

The American Buffalo gold coin’s premium is 3% of the day’s spot price for gold. Premiums of 3%, 5%, 7% and 9%, respectively, are charged for the American Eagle 1-ounce, half-ounce, quarter-ounce and tenth-ounce gold coins.

A minimum order of 1,000 ounces of gold coins is required, in any combination.

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