The U.S. Mint’s authorized purchasers (AP’s) bought 430,000 2016 American Eagle silver bullion coins last week, up from 255,000 pieces sold during the previous period.
One-ounce Silver Eagles have sold 28,630,500 pieces so far this year and are no longer on pace to break 2015’s annual record. We are currently 66% of the way through 2016 and sales for these issues have reached 60.9% of last year’s total of 47 million ounces.
Gold’s value decreased by $17.15 an ounce during the past week. Gold is now appraised at $1,318.75 according to the London Bullion Market Association. The value of an ounce of silver has also decreased by 23 cents to $18.68.
2016 American Eagle gold bullion coins have sold a total of 584,500 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. Last week saw 8,500 ounces of bullion Gold Eagles sold, up from 6,500 the previous week. 2016 American Buffalo 1-ounce gold bullion coins have sold 130,000 pieces; 2,500 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 increased by 1,000 units on Friday; prior to last week the issues had been stuck at their first-week total of 19,000 units for nearly a month. Platinum dropped in value by $28.60 per ounce since last Monday, bringing its current price to $1,077.40.
The Mint continued sales of Harpers Ferry 5 oz. silver bullion coins to its authorized purchasers last week, adding 500 orders to bring the total for that issue to 35,100 coins sold. Combined sales for 2016’s three 5 oz. bullion coins have hit 215,100 units for a total of 1,075,500 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.