The U.S. Mint’s authorized purchasers bought last week‘s complete allocation of 1,085,500 American Eagle silver bullion coins, bringing the total for 2016 to an even 20 million ounces sold. This means the Mint has already sold more than 42% of last year’s 47-million-coin tally, and remains on pace to have the biggest sales year ever for the issues.
Gold lost some ground over the weekend and is now valued at $1,277.75 — a decrease of $7.90 since this time last week according to the London Bullion Market Association. Silver has also remained mostly steady despite logging a modest loss during this period; the value of an ounce of the metal has decreased by 52 cents to $17.33.
American Eagle Gold bullion coins have sold a total of 364,500 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. American Buffalo 1-ounce gold bullion coins have sold 86,000 pieces. Sales for the Cumberland Gap 5 oz. silver bullion coin remain stuck at 64,000 units sold, which is 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 169,000 units for a total of 845,000 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 79.7% 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.