Precious Metals Sales Report: Week ending March 15, 2017

Silver

As of March 15, 2017, the U.S. Mint’s authorized purchasers (APs) have bought 6,842,500 American Eagle silver bullion coins, which includes 220,000 sold during the past week—a drop from the previous week’s sales total of 280,000 coins.

For the second week in a row, the Mint has reported no change in sales of the 2017 America the Beautiful Effigy Mounds National Monument 5-ounce bullion coins. It’s unclear whether no coins were sold at all, or the figures simply haven’t been reported yet. An adjustment has, however, been made to the 2016 total for Harpers Ferry National Monument. Where 38,100 coins were formerly reported sold, the number has been adjusted upward slightly to 38,600. The number of Effigy Mounds coins sold remains at 19,500, for a total of 97,500 ounces of silver.

	Past Week		Year to Date
	Coins	Ounces	Coins	Ounces
American Eagle 1-oz. silver coins	220,000	220,000	6,842,500	6,842,500
America the Beautiful 5-oz. silver coins (all)	0	0	19,500	97,500
Effigy Mounds National Monument	0	0	19,500	97,500
Total silver	220,000	220,000	6,862,000	6,940,000

Since this time last week the value of an ounce of silver has dropped by 78 cents to $16.91, according to the London Bullion Market Association. Silver’s average last week, Monday through Friday, was $17.39 per ounce, down from the previous week’s average of $18.19.

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Gold

The sales pace for gold bullion coins dropped last week, which means three of the past four weeks were marked by declines. During the past week, the Mint reported sales of 3,500 ounces of American Eagle gold bullion coins, compared to 4,500 ounces the previous week. (No sales of 1/4-ounce AGE coins have reported for the month of March.) All told, American Gold Eagles have sold 153,000 ounces in 2017. For the second week running, the Mint reports no March sales of American Buffalo 1-ounce gold bullion coins.  At the time of our last report, the Mint had adjusted the final February figure upward by 500 coins; for this report, it has lifted that figure by another 1,500 coins, bringing the 2017 total for the category to 49,000 ounces.

	Past Week		Year to Date
	Coins	Ounces	Coins	Ounces
American Eagle gold coins (all)	8,500	3,500	348,500	153,000
1/10-oz.	5,000	500	170,000	17,000
1/4-oz.	0	0	40,000	10,000
1/2-oz.	1,000	500	25,000	12,500
1-oz.	2,500	2,500	113,500	113,500
American Buffalo 1-oz. gold coins	1,500	1,500	49,000	49,000
Total gold	10,000	5,000	397,500	202,000

The value of an ounce of gold is down a bit from last week, having dropped $17.85 to $1,198.80. Gold’s average last week, Monday through Friday, was $1,213.20, slightly down from the previous week’s average of $1,243.56.

Coin Update sponsor APMEX carries a wide range of bullion products from around the world, as well as select numismatic items.

Platinum

The sales total for the 2017 American Eagle one-ounce platinum bullion coins is 20,000 units. The value of an ounce of platinum is down $48.00 compared to this time last week, and is now at $937.00. The metal’s average last week, Monday through Friday, was $957.80, a notch down from 1,013.00 the previous week.   ❑

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