For the year to date, the United States Mint has now sold 34,673,500 American Silver Eagle bullion coins, which exceeds the record annual sales achieved last year. This will mark the fourth consecutive year of record breaking sales for the popular one ounce silver bullion coins.
The American Silver Eagle was introduced in 1986 as a one ounce 99.9% pure silver bullion coin, with its weight, content, and purity guaranteed by the U.S. government. The obverse design features Adolph A. Weinman’s Walking Liberty design used on the circulating half dollars struck from 1916 to 1947. The reverse features a heraldic eagle designed by John Mercanti.
When the coins were first available in November and December 1986, the US Mint recorded sales of 5,096,000. In the following year, when the coins were available throughout the year, sales reached 9,420,000. Annual sales registered lower for the next twelve years, bottoming with annual sales of only 3,466,000 coins in 1996. In 2002, sales exceeded 10 million for the first time and set an annual sales record at 10,475,500.
Demand for Silver Eagle bullion coins rose to new heights in 2008, which resulted in periodic suspensions and order rationing imposed by the US Mint. Despite these obstacles, annual sales achieved a new record at 19,583,500.
In 2009 and 2010, new annual records were achieved at 28,766,500 and 34,662,500, respectively. During these years, the US Mint continued to periodically ration sales to the small group of authorized purchasers that are able to buy the coins directly.
For the current year, sales have reached 34,673,500 with still more than two months to go. Monthly sales have averaged about 3.7 million coins, an amount which exceeds the annual sales totals for two separate years of the program.
sure thing, I like the 1 oz coin, although I have only 3 pcs due to other coins selling for better spot prices. I am not a numismatic but just collect for the silver content. I could care less about what’s on the coin, as long as it is recognizable for future trading and assuring me a hedge against inflation.
I am kind of funnied-up by the article trying to impregnate us with the solid guarantee of the United states of America:
“The American Silver Eagle was introduced in 1986 as a one ounce 99.9% pure silver bullion coin, with its weight, content, and purity guaranteed by the U.S. government.”
If we relied on this purity guaranteed by the U.S. government, today this is not so much of a big guarantee any longer. Now I feel like I want to cut my liberty coins in half to see what’s in it for real.
Every Silver Eagle that gets absorbed by the public causes upset to Tim Geithner. His preference would be to feed them to the Silver Users Association who frowns on the program. Accordingly, allocate 100% of Christmas gift funds to acquiring additional coins. Buy early to maximize ounces.
Not very high when you consider the small Canadian mint is going to hit 25M OZ this year!!
Silver may very well be the metal of the future. It is starting to catch on as the Poor Man’s gold amongst us working class. And every coin and ounce that is purchased and held is a blow against the empire of the money changers and manipulators. I am very bullish on the Canadian Silver Eagle. A nice little book called Get the Skinny on Silver Investing explains it all very well.
As the economy continues to decline worldwide and the dollar continues to lose value through inflation and devaluation, it’s good to see more informed citizens investing in real money, hard assets. For every ounce of gold and silver taken off the market, we break the chains of the fed, the banks and wallstreet. The grip is loosening, it’s time for people to take back their country!!