The U.S. Mint’s authorized purchasers bought 972,500 of last week’s million-ounce allocation of American Eagle silver bullion coins, leaving 27,500 unsold. While the Mint has recently made a habit of adding any unsold coins to the next weekly million-coin allocation, this week’s inventory will remain consistent at one million coins.
The Mint remains on pace to have its biggest sales year ever for silver bullion, and has already exceeded 44% of last year’s record-breaking total of 47 million ounces of Silver Eagles sold.
Gold gained some ground over the weekend and is now valued at $1,281.00 — a increase of $3.25 since this time last week according to the London Bullion Market Association. Silver has also remained steady during this period; the value of an ounce of the metal has decreased by 1 cent to $17.32.
One-ounce Silver Eagles have sold 20,972,500 million pieces so far this year, while American Eagle Gold bullion coins have sold a total of 373,500 ounces across 1-ounce, 1/2-ounce, 1/4-ounce, and 1/10-ounce options. American Buffalo 1-ounce gold bullion coins have sold 89,500 pieces. Sales for the Cumberland Gap 5 oz. silver bullion coin remain stuck at 64,000 units sold, which is the fifth-highest mintage ever for an ATB 5 oz. silver bullion coin. Combined sales for the 2016’s Shawnee and Cumberland Gap 5 oz. bullion coins have hit 169,000 units for a total of 845,000 ounces of silver.
As noted above, the Mint sold 47 million ounces of Silver Eagles in 2015, along with 801,500 ounces of Gold Eagles and 220,500 Gold Buffalo bullion coins. America the Beautiful 5 oz. bullion coins sold a total of 212,000 pieces last year; the 2016 Shawnee and Cumberland Gap issues have already hit 79.7% of that total.
The Mint sells its bullion issues 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.