June 19, 2024

US Mint Gold and Silver Bullion Coin Sales By Month

Through the end of April, the United States Mint has now sold 466,000 ounces of gold and 16,375,000 ounces of silver through its bullion coin programs. In both cases the figures are far ahead of the numbers from the comparable year ago period, despite the higher market price per ounce for the bullion.

Last year through the end of April, US Mint gold bullion sales were 388,000 troy ounces, while the price of gold ranged from a low of $1,058.00 to a high of $1,179.25 per ounce. Silver bullion sales during this period were 11,531,000 with the market price ranging from a low of $15.14 to a high of $18.84 per ounce.

US Mint Gold and Silver Bullion Sales (in ounces)

January February March April Total
American Gold Eagle 133,500 92,500 73,500 108,000 407,500
American Gold Buffalo 38,000 20,500 58,500
Total Gold in ounces 133,500 92,500 111,500 128,500 466,000
American Silver Eagle 6,422,000 3,240,000 2,767,000 2,819,000 15,248,000
ATB Silver 1,127,000 1,127,000
Total Silver in ounces 6,422,000 3,240,000 2,767,000 3,946,000 16,375,000

During the latest month of April 2011, the US Mint recorded sales of 128,500 troy ounces of gold bullion, comprised of 108,000 ounces worth of American Gold Eagles and 20,500 ounces worth of American Gold Buffaloes.

Meanwhile, silver bullion sales for the latest month reached 3,946,000 ounces, the second highest level of the year. For three months running, the pace of sales for the American Silver Eagles had remained approximately the same base level, despite indications of higher demand. The restrained sales are presumably the impact of the US Mint’s allocation program, which rations the available number of bullion coins amongst the authorized purchasers.

The boost in silver bullion sales seen in April was due to the release of the 2011-dated America the Beautiful Silver Bullion Coins. These coins each contain five troy ounces of silver and have a diameter of 3 inches. Sales began on April 25, 2011, and authorized purchasers immediately purchased coins accounting for 1,127,000 troy ounces of silver.

US Mint Gold Bullion Coin Sales Shift Back to American Eagles

In the past week, the level of gold bullion sales at the United States Mint rose to a three week high at 35,000 ounces. The level of silver bullion sales remained little changed from recent weeks at 658,500 ounces, as coins continue to be subject to the US Mint’s allocation program.

Buyers shifted their focus back to the American Gold Eagles, which accounted for 32,000 ounces worth of sales. In previous weeks, a larger portion of sales had taken place for the recently released 2011 Gold Buffalo. These one ounce 24 karat gold coins were made available to authorized purchasers starting on March 14. Prior to that date, the coins had last been available from the Mint on September 27, 2010.

US Mint Bullion Coin Program Sales 4/6/2011 (ounces)

Prior Week Month to Date Year to Date
American Silver Eagle 658,500 658,500 13,087,500
American Gold Eagle 32,000 32,000 331,500
America the Beautiful Silver 0 0 0
American Platinum Eagle 0 0 0
American Gold Buffalo 3,000 3,000 41,000

The US Mint sold 658,000 ounces of silver bullion in the form of one ounce American Silver Eagles. Since the 2011-dated versions of the coins were first released, the coins have been subject to the Mint’s allocation program. This program serves to ration the available supplies amongst the eleven authorized purchasers. While the rationing is taking place, the level of silver bullion sales represents the number of coins the US Mint has made available, rather than the demand of the market place.

At a House subcommittee hearing on the US Mint’s bullion coin programs held earlier today, one of the witnesses estimated that the US Mint loses about a third of potential bullion sales because they cannot meet full demand.

US Mint to Offer 2010 Proof Gold Eagles

The United States Mint has officially announced the availability of 2010 Proof American Gold Eagle coins.

Although these are collector coins, their fate has become intertwined with the demand for bullion coins. The end of Gold and Silver Eagle rationing and the recent decline in bullion sales, no doubt helped clear the way for the collectible offering. Proof Gold Eagles had been canceled for 2009.

The US Mint will offer the full range of 2010 Proof Gold Eagles, including 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz coins. These will be available for sale individually or as part of a four coin set. The following product limits have been established for each offering:

Product Product Limit
1 oz. Coin 25,000
1/2 oz. Coin 15,000
1/4 oz. Coin 16,000
1/10 oz. Coin 27,000
4 Coin Set 39,000

If the US Mint manages to completely sell out of all options, that would represent 111,350 ounces of gold. Through the end of August, the average number of ounces sold through the American Gold Eagle bullion program was around 108,000 per month.

There is still no word on whether the US Mint will have the time and precious metals blank supplies to produce and offer 2010 Proof Silver Eagles.