This year’s American Eagle gold and silver bullion coins debuted yesterday, posting strong numbers right out of the gate.
The U.S. Mint’s authorized purchasers picked up 2,756,500 ounces of the new Silver Eagles on their first day of availability, a robust showing considering the coins were limited to about one million ounces per week at the end of 2015. The Mint has allocated a total of 4,000,000 for this week, meaning 1,243,500 Silver Eagles remain available for purchase until next week’s allocation is announced on Monday.
The 2016 Gold Eagles also sold well. The Mint sold 70,000 1/10 oz. gold coins, 22,000 1/4 oz. pieces, 12,000 1/2 oz. issues, and 41,500 one-ounce coins. Taken together, that comes to 145,500 coins sold for a total of 60,000 ounces of gold bought from the Mint on day one.
As a point of comparison, the Mint sold 47,000,000 ounces of Silver Eagles and 1,839,500 ounces of Gold Eagles in all of 2015. At the time of this writing gold is valued at $1,094.85 per ounce, while silver is listed at $13.88 per ounce according to the London Bullion Market Association.
The Mint sells its bullion issues to a network of authorized buyers, who then make the coins available to the public. This year marks the 30th anniversary of American Eagle bullion coins, which were introduced in 1986.