The U.S. Mint’s authorized purchasers (AP’s) bought 410,000 2016 American Eagle silver bullion coins last week, down from 430,000 pieces sold during the previous period.
One-ounce Silver Eagles have sold 29,040,500 pieces so far this year and are no longer on pace to break 2015’s annual record. We are currently 68% of the way through 2016 and sales for these issues have reached 61.7% of last year’s total of 47 million ounces.
Gold’s value increased by $18.50 an ounce during the past week. Gold is now appraised at $1,337.25 according to the London Bullion Market Association. The value of an ounce of silver has also increased by 92 cents to $19.60.
2016 American Eagle gold bullion coins have sold a total of 607,000 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. Last week saw 22,500 ounces of bullion Gold Eagles sold, up from 8,500 the previous week. 2016 American Buffalo 1-ounce gold bullion coins have sold 134,000 pieces; 4,000 sales were recorded during this period. In 2015, the Mint sold 801,500 ounces of Gold Eagles and 220,500 Gold Buffalo bullion coins.
The sales total for the 2016 American Eagle one-ounce platinum bullion coins has hit 20,000 units. Platinum dropped in value by $12.40 per ounce since last Monday, bringing its current price to $1,065.00.
The Mint began taking orders for the Theodore Roosevelt National Park 5 oz. silver bullion coin from its authorized purchasers last week, registering 28,500 units sold in that issue’s first seven days of availability. Combined sales for 2016’s four 5 oz. bullion coins have hit 244,600 units for a total of 1,223,000 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.