Amidst a temporary sell out and the imposition of an allocation program, sales of the United States Mint’s American Silver Eagle bullion coins have continued to spiral upwards. The sales for the year to date are quickly approaching record territory.
Citing “tremendous demand,” on November 5 the US Mint had informed their network of authorized purchasers that Silver Eagle bullion coins were temporarily sold out. Sales would be resumed on November 17 when the bullion coins were offered on an allocated basis. During periods when the market demand for bullion coins exceeds the available supply, the US Mint has utilized an allocation program to ration the available coins amongst authorized purchasers.
Despite the nearly two week period of unavailability and the newly imposed allocation program, Silver Eagle bullion sales for the month of November reached 3,426,000 ounces. This represented a gain of 49.0% compared to the year ago period. Through the end of November, year to date sales had reached 41,547,000 ounces.
According to the latest figures on the US Mint’s website, initial sales for December have added another 523,000 ounces bringing the total to 42,070,000 ounces. This amount is within striking distance of the record annual sales total of 42,675,000 established in 2013.
November 2014 US Mint Bullion Coin Sales
|Nov 2014||YTD 2014|
|American Platinum Eagle 1 oz||0||16,700|
|American Gold Eagle 1 oz||49,000||402,500|
|American Gold Eagle 1/2 oz||8,000||46,000|
|American Gold Eagle 1/4 oz||12,000||112,000|
|American Gold Eagle 1/10 oz||40,000||530,000|
|American Gold Buffalo 1 oz||12,500||173,000|
|American Silver Eagle 1 oz||3,426,000||41,547,000|
|America the Beautiful Silver 5 oz||35,100||128,700|
Sales of the American Gold Eagles reached 60,000 ounces during the month of November. The one ounce sized coins accounted for the majority of sales by weight with small contributions from the fractional one-half, one-quarter, and one-tenth ounce sized coins. The latest monthly sales total represents a gain of 25% compared to the year ago period.
Through the end of November, year to date Gold Eagle sales have reached 506,500 ounces. Despite the strength seen in recent months, the annual sales total significantly trails the prior year. During the comparable eleven month period in the prior year, sales had reached 800,500 ounces.
During November, the US Mint also recorded sales of 12,500 of the 24-karat one ounce American Gold Buffalo coins and 35,100 of the five ounce America the Beautiful Silver Bullion Coins.