The U.S. Mint’s authorized purchasers bought 843,500 of last week’s 1,415,500-ounce allocation of American Eagle silver bullion coins, leaving 572,000 unsold. This is more than were purchased the prior week, but the total nonetheless represents enough softening of demand for Silver Eagles that the Mint is increasingly finding itself with plenty of the inventory on hand to fulfill orders.
The unsold pieces have been added to this week’s new inventory, bringing the available total for this period to 1,672,500 ounces.
One-ounce Silver Eagles have sold 24,327,500 million pieces so far this year. The Mint remains on pace to have its biggest sales year ever for silver bullion, and has already exceeded 51.7% of last year’s record-breaking total of 47 million ounces of Silver Eagles sold.
Gold has seen significant gains lately and is now valued at $1,280.80 — an increase of $40.25 since this time last week according to the London Bullion Market Association. The value of an ounce of silver has also increased by 92 cents to $16.40.
American Eagle Gold bullion coins have sold a total of 452,000 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. American Buffalo 1-ounce gold bullion coins have sold 104,000 pieces. In 2015, the Mint sold 801,500 ounces of Gold Eagles and 220,500 Gold Buffalo bullion coins.
Sales of the Cumberland Gap 5 oz. silver bullion coin look to have completed at 75,000 units, the fifth-highest mintage ever for an ATB 5 oz. silver bullion coin, and the new Harpers Ferry issue sold 33,000 pieces since its debut last week. Combined sales for the 2016’s three 5 oz. bullion coins have hit 213,000 units for a total of 1,065,000 ounces of silver. This means that combined production of 2016’s issues has officially surpassed the total for all of 2015, which wrapped up at 212,000 units. 2016 now has the second-largest annual mintage ever for 5 oz. America the Beautiful bullion coins behind 2011, which had the extremely high total of 465,100.
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.