The U.S. Mint’s authorized purchasers did not buy all of last week’s one-million-ounce allocation of American Eagle silver bullion coins, leaving 42,500 pieces unsold as of Friday evening. The Mint has added those coins to a new million-ounce inventory, bringing this week’s available total for Silver Eagles to 1,042,500. The Mint remains on pace to have its biggest sales year ever for silver bullion, and has already exceeded 31.8% of last year’s record-breaking total of 47 million ounces of Silver Eagles sold.
Gold has dropped $6.00 an ounce since this time last week, and is currently listed at $1,215.00, according to the London Bullion Market Association. Despite a modest slide in recent weeks, the commodity has not threatened to dip below $1,200 an ounce since it climbed to $1,190 on February 10. Silver lost 32 cents last week and is currently valued at $14.96 an ounce.
One-ounce Silver Eagles have sold 14,957,500 million pieces so far this year, while American Eagle Gold bullion coins have sold a total of 246,500 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. American Buffalo 1-ounce gold bullion coins sold 60,000 pieces as of last Friday. The Shawnee 5 oz. bullion coins have been stuck at 105,000 pieces sold for several weeks as we gear up for the release of the Cumberland National Historical Park 5 oz. bullion coins, which is likely to occur any time now.
As noted above, the Mint sold 47,000,000 ounces of Silver Eagles in all of 2015, along with 801,500 ounces of Gold Eagles and 220,500 Gold Buffalo bullion coins. America the Beautiful 5 oz. bullion coins sold a total of 212,000 pieces last year; the 2016 Shawnee issue has already hit 49% of that total.
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.