There have been some significant milestones for U.S. Mint bullion sales today. The Mint may be having trouble keeping some of its gold and Uncirculated collector coins in stock, but it’s had so such problems providing huge amounts of investor strikes to voracious authorized purchasers.
The Mint sold out this week’s allocation of 1,073,500 ounces of American Eagle Silver bullion coins today, bringing the overall total for 2016 to 10 million coins sold. Considering the fact that the all-time sales record for the issues reached 47,000,000 ounces last year, 10 million is an impressive total to reach before the end of February. Every Silver Eagle offered so far this year has found a buyer, and it will be interesting to see how long the market will continue to absorb the coins in such high quantities.
The Shawnee five-ounce silver bullion coins have also seen ravenous demand since they were first made available at the start of the month. Sales for those issues are now up to 105,000 pieces, representing a total of 525,000 ounces of silver sold through these issues alone.
Shawnee has just squeezed by 2011’s Olympic National Park issue (104,900 coins sold) to become the third-highest-selling ATB five-ounce bullion coin ever behind Gettysburg National Military Park and Glacier National Park. As noted previously, these totals are especially striking when considering the fact that the Mint sold a total of 113,800 ATB five-ounce bullion coins in all of 2012.
Finally, an update on gold: the commodity is currently resting at $1,236 an ounce, after dipping to 1,203.65 earlier in the week and shooting up to 1,250.75 yesterday. Despite some volatility, gold’s average value looks increasingly comfortable over the $1,200 an ounce mark, where it has been since February 11.
As of this writing the Mint has sold 195,500 ounces of 2016 American Eagle gold bullion coins to authorized buyers, along with 51,000 of this year’s one-ounce American Buffalo gold coins.