The weekly allocation totals have hovered just above or below one million ounces in recent weeks. As the Mint’s supply looks more consistent, authorized purchasers have been a bit slower to absorb available inventory. Last week’s allocation of 970,000 was not fully exhausted prior to today.
American Eagle Silver bullion coins are selling at a record pace this year. A total of 38,986,000 have been sold already in 2015, and last year’s all-time high of more than 44 million ounces is likely to be surpassed.
American Eagle 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 $16.10 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.