United States Mint suspends American Eagle silver bullion sales
- Published: Jul 7, 2015, 10 AM
Mint officials sent the following notice to the authorized purchasers concerning the American Eagle 1-ounce .999 fine silver bullion coin sales:
"As you are aware, the significant increase in demand for American Eagle Silver Bullion Coins depleted our current inventories. The United States Mint facility at West Point, New York, continues to produce American Eagle Silver Bullion Coins and we anticipate resuming sales in approximately two weeks."
Up to the July 7 sales suspension, the U.S. Mint recorded total sales of 24,395,000 coins. Through the end of June, the Mint had recorded sales of 21,786,000 coins, a monthly average of 3,631,000 coins. Maintaining that monthly sales average could push 2015 calendar year totals to 43,572,000 coins, just below the record total of 44,006,000 set in calendar year 2014.
During the first seven days of July 2015, authorized purchasers bought 2,609,000 of the coins.
The authorized purchasers buy coins from the Mint based on the closing spot price of the metal per troy ounce on the London market on a given day, plus a $2 premium per coin. The coins are then resold to other dealers, collectors and investors.
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