The U.S. Mint’s authorized purchasers (AP’s) bought 175,000 2016 American Eagle silver bullion coins last week, down from 500,000 pieces sold during the previous period and marking a weekly low for 2016.
One-ounce Silver Eagles have sold 27,620,500 pieces so far this year. The Mint remains on pace to have its biggest sales year ever for silver bullion, but just barely. We are currently 58.6% of the way through 2016 and sales for these issues have reached 58.7% of last year’s record-breaking total of 47 million ounces of Silver Eagles.
As noted previously, the Mint launched its 2016 American Eagle one-ounce platinum bullion coins last week, posting an impressive 17,100 sales on their first day of availability. An additional 1,900 pieces were sold by Friday evening, giving the issues a first-week total of 19,000 units. Platinum has gained in value by $36.50 per ounce since last Monday, bringing its current price to $1,349.65.
Gold bounced back last week to increase in value by $34.65 per ounce after seeing a drop during the previous period. Gold is now appraised at $1,349.65 according to the London Bullion Market Association. The value of an ounce of silver has also increased by $2.10 to $20.51.
2016 American Eagle Gold bullion coins have sold a total of 539,500 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. Last week saw 10,500 ounces of bullion Gold Eagles sold, up from 6,500 the previous week. 2016 American Buffalo 1-ounce gold bullion coins have sold 122,500 pieces; the Mint sold 2,000 of the issues during this period. In 2015, the Mint sold 801,500 ounces of Gold Eagles and 220,500 Gold Buffalo bullion coins.
The Mint did not sell any Harpers Ferry 5 oz. silver bullion coins to its authorized purchasers last week, and the total for that issue remains at 34,200 coins sold. Combined sales for 2016’s three 5 oz. bullion coins have hit 214,200 units for a total of 1,071,000 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.