The U.S. Mint’s authorized purchasers (APs) bought 1,420,000 2016 American Eagle silver bullion coins last week, up from 75,000 pieces sold during the previous period.
One-ounce Silver Eagles have sold 32,525,500 pieces so far this year. We are currently 78% of the way through 2016, and sales for these issues are at 69% of last year’s total of 47 million ounces. To have a chance of besting that total, Silver Eagle sales for 2016 need to average around 1.2 million each week for the remaining 12 weeks of the year.
Gold’s value is down by $29.85 an ounce from this time last week. Gold is now appraised at $1,253.45, according to the London Bullion Market Association. The value of an ounce of silver decreased by $1.26 an ounce, to $17.48.
2016 American Eagle gold bullion coins have sold a total of 744,000 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. Last week saw 42,500 ounces of bullion Gold Eagles sold, a significant increase over the 27,500 ounces sold the previous week. 2016 American Buffalo 1-ounce gold bullion coins have sold 158,000 pieces; 7,000 sales were recorded during this period. In 2015, the Mint sold 801,500 ounces of Gold Eagles and 220,500 ounces of Gold Buffalo bullion coins.
The sales total for the 2016 American Eagle one-ounce platinum bullion coins is 20,000 units. Platinum fell in value by $46.00 per ounce over the past week, bringing its current price to $967.00.
The sales figure for Theodore Roosevelt National Park 5-ounce silver bullion coins now registers at 31,000 units, an uptick of on 500 since the U.S. Mint’s reporting of last week. Combined sales for 2016’s four 5-ounce bullion coins are at 247,000 units, for a total of 1,236,500 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.