American Silver Eagle bullion coin sales posted a strong performance in May 2014, ahead of the United States Mint’s announcement that the long standing allocation program would finally be lifted. Gold Eagle bullion sales were softer for the month, continuing the pattern of lower sales compared to the year ago period.
During May 2014, sales of the one ounce Silver Eagle bullion coins reached 3,988,500 troy ounces. This marked a gain compared to adjusted figures for the prior month which measured 3,569,000 ounces. It also marked a gain compared to the year ago period of May 2013 when sales had reached 3,458,500 ounces.
For the year to date, Silver Eagle sales have reached 21,436,500 ounces. This figures is slightly behind sales from the comparable year ago period, which had reached 21,768,500 ounces.
It is possible that sales may see a faster pace in the coming months. Since January 2013, Silver Eagles have been subject to an allocation program, which limited the number of coins that authorized purchasers were able to order. This program has been used to ration supplies in times when demand exceeds the number of coins available. Starting in June, authorized purchasers will be able to order the coins without limitations, potentially setting the stage for higher orders and faster sales.
May 2014 US Mint Bullion Coin Sales
|May 2014||YTD 2014|
|American Platinum Eagle 1 oz||1,000||12,200|
|American Gold Eagle 1 oz||29,000||155,500|
|American Gold Eagle 1/2 oz||3,000||25,000|
|American Gold Eagle 1/4 oz||6,000||68,000|
|American Gold Eagle 1/10 oz||35,000||325,000|
|American Gold Buffalo 1 oz||12,500||95,500|
|American Silver Eagle 1 oz||3,988,500||21,436,500|
|America the Beautiful Silver 5 oz||23,100||46,100|
Sales of American Gold Eagle bullion coins reached 35,500 troy ounces, across the available one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce sizes. This was down slightly from the prior month sales of 38,500 ounces, but down sharply from the year ago period when sales had reached 70,000 ounces.
For the year to date, Gold Eagle sales now measure 217,500 ounces, falling further behind prior year sales figures. For the comparable year ago period, sales had reached 572,000 ounces.
Other bullion products available from the United States Mint during the month included the one ounce American Platinum Eagles which added 1,000 pieces, the one ounce American Gold Buffalo coins which added 12,500, and the five ounce America the Beautiful Silver Coins which added 23,100. The latter program saw the release of a new design featuring Shenandoah National Park during the month.