The U.S. Mint’s authorized purchasers bought 650,500 of last week’s 1,166,500-ounce allocation of American Eagle silver bullion coins, leaving 516,000 unsold. This marks an unusually low weekly total for Silver Eagles, due in part to the shortened week that followed Memorial Day.
Some of the unsold pieces have been added to this week’s new inventory, bringing the available total for this period to 1,415,500 ounces.
One-ounce Silver Eagles have sold 23,484,000 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 49.9% of last year’s record-breaking total of 47 million ounces of Silver Eagles sold.
Gold saw big gains on Friday and is now valued at $1,240.55 — an increase of $28.45 since this time last week according to the London Bullion Market Association. The value of an ounce of silver has also increased by 34 cents to $16.40.
American Eagle Gold bullion coins have sold a total of 437,000 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. American Buffalo 1-ounce gold bullion coins have sold 101,000 pieces. Sales of the Cumberland Gap 5 oz. silver bullion coin remain at 75,000 units, 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.