The U.S. Mint’s authorized buyers purchased 1,079,500 ounces of American Eagle silver bullion coins last week, shy of that period‘s 1,187,000-ounce allocation limit by 107,500 pieces. Those 107,500 ounces have now been added to this week’s new inventory of 1,000,000 ounces, bringing the total number of available American Eagle silver bullion coins to 1,107,500 for the week.
After months of struggling to keep up with demand, the Mint is now producing Silver Eagle bullion at a rate higher than they’re selling it, though the number of available ounces left on the table in recent weeks has not been large.
American Eagle Silver bullion coins are selling at a record pace this year. A total of 40,922,000 have been sold already in 2015, and last year’s all-time high of more than 44 million ounces is likely to be surpassed in the coming weeks.
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 $14.78 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.