The U.S. Mint has continued its pattern of releasing one million American Eagle one-ounce silver bullion coins per week by issuing a new allocation today. Last week’s inventory had been purchased by the Mint’s authorized buyers as of Thursday, bringing 2016’s overall total to 14 million ounces sold.
Even with the ongoing rationing of silver bullion, the Mint is on pace to have its biggest sales year ever for the commodity, and has already exceeded 29.7% of last year’s record-breaking total of 47 million ounces of Silver Eagles sold.
Gold has dropped $23.35 an ounce since this time last week, and is currently listed at $1,221.00, according to the London Bullion Market Association. The good news for gold investors is that, despite some modest volatility, the commodity has not credibly threatened to dip below $1,200 an ounce since it climbed to $1,190 on February 10. Silver has been relatively stable for weeks and is currently valued at $15.28 an ounce.
As noted above, the one-ounce Silver Eagles have sold 14 million pieces so far this year, while American Eagle Gold bullion coins have sold a total of 238,000 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. American Buffalo 1-ounce gold bullion coins sold 58,000 pieces as of last Friday. The Shawnee 5 oz. bullion coins have been stuck at 105,000 pieces sold for several weeks as we gear up for the release of the Cumberland National Historical Park 5 oz. bullion coins, which are likely to arrive in early April.
As noted above, the Mint sold 47,000,000 ounces of Silver Eagles in all of 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 issue has already hit 49% 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.