After several weeks of providing more American Eagle Silver bullion coins than the market could absorb, the U.S. Mint saw its total allocation of 1,107,500 ounces scooped up by authorized buyers last week. That number included 107,500 ounces left over from the previous week, and this week’s available allocation will get no such boost from prior unsold inventory.
This week, the Mint’s authorized purchasers will have to make due with 900,000 ounces, the lowest allocation since September.
Limited American Eagle Silver bullion inventory has slowed sales in recent months, but the coins are nonetheless selling at a record pace this year. A total of 42,029,500 ounces have been sold already in 2015, bringing us closer to last year’s all-time high of 44,006,000 ounces.
American Eagle one-ounce silver bullion coins carry a denomination of one dollar; however, as they are investor coins, their value is tied to their weight in silver, which is currently $14.36 per ounce according to the London Bullion Market Association. In figuring retail prices for the public, authorized dealers add to the mint’s base price to cover their own expenses and profit targets, often incentivizing bulk purchases by charging less for coins ordered in large quantities.
For more information on the American Eagle bullion program, please visit the U.S. Mint’s Web site.