Precious Metals Update: 2016 ATB 5 oz. Silver Coins Hit 85% of 2015 Total

May 23, 2016 By Coin Update 3 Comments

The U.S. Mint’s authorized purchasers bought 970,000 of last week’s million-ounce allocation of American Eagle silver bullion coins, leaving 30,000 unsold. This week’s new inventory has been set at 1,057,500 ounces, which includes one million new coins, last week’s 30,000 leftovers, and 27,500 unsold pieces from the May 9 allocation.

One-ounce Silver Eagles have sold 21,942,500 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 46% of last year’s record-breaking total of 47 million ounces of Silver Eagles sold.

Gold lost some ground over the weekend and is now valued at $1,250.40 — a decrease of $30.60 since this time last week according to the London Bullion Market Association. Silver has also declined during this period; the value of an ounce of the metal has decreased by $1.01 to $16.31.

American Eagle Gold bullion coins have sold a total of 396,500 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. American Buffalo 1-ounce gold bullion coins have sold 92,500 pieces. Sales of the Cumberland Gap 5 oz. silver bullion coin jumped to 75,000 units sold last week, the fifth-highest mintage ever for an ATB 5 oz. silver bullion coin. Combined sales for the 2016’s Shawnee and Cumberland Gap 5 oz. bullion coins have hit 180,000 units for a total of 900,000 ounces of silver.

As noted above, the Mint sold 47 million ounces of Silver Eagles in 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 and Cumberland Gap issues have already hit 84.9% 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.

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Comments

Jess says

May 24, 2016 at 2:01 pm

Does anyone why the Silver dollar proof and or Burnished haven’t been released???
Coin Update says

May 24, 2016 at 2:12 pm

Hi Jess, the Mint is working on 30th anniversary issues for this year that will feature edge lettering rather than a reeded edge. The law authorizing these coins was not signed until December 4, 2015, so it appears the Mint was caught off guard and has gotten a late start. — Dan
Jess says

May 26, 2016 at 12:27 pm

Thanks

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