The U.S. Mint’s authorized purchasers (AP’s) bought 210,000 2016 American Eagle silver bullion coins last week, up from 115,000 pieces sold during the previous period, which marked a low for 2016.
One-ounce Silver Eagles have sold 27,945,500 pieces so far this year and, as of last week, they are no longer on pace to break 2015’s annual record. We are currently 62.4% of the way through the year and sales for these issues have reached 59.4% of last year’s total of 47 million ounces.
Gold’s value increased by $2.60 an ounce after seeing a decrease during the previous period. Gold is now appraised at $1,339.40 according to the London Bullion Market Association. The value of an ounce of silver has also increased by 24 cents to $19.90.
2016 American Eagle gold bullion coins have sold a total of 569,500 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. Last week saw 17,500 ounces of bullion Gold Eagles sold, up from 12,500 the previous week. 2016 American Buffalo 1-ounce gold bullion coins have sold 126,000 pieces; 3,500 sales were recorded during this period. In 2015, the Mint sold 801,500 ounces of Gold Eagles and 220,500 Gold Buffalo bullion coins.
No new sales of 2016 American Eagle one-ounce platinum bullion coins have been added during the last two weeks; the issues remain at their first-week total of 19,000 units sold. Platinum dropped in value by $6 per ounce since last Monday, bringing its current price to $1,146.
The Mint did not sell any Harpers Ferry 5 oz. silver bullion coins to its authorized purchasers last week, and the total for that issue remains at 34,200 coins sold. Combined sales for 2016’s three 5 oz. bullion coins have hit 214,200 units for a total of 1,071,000 ounces of silver. 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.
Bullion issues are sold by the U.S. Mint 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.