October 5, 2022

US Mint 2011 American Silver Eagles Selling Quickly

United States Mint bullion coin sales remained robust for the two available options. In the prior week, authorized purchasers ordered 1,322,000 ounces of American Silver Eagles and 25,000 ounces of American Gold Eagles.

For bullion coin programs, the US Mint does not sell directly to the public, but distributes the coins through a network of authorized purchasers. A group of 11 primary distributors can order coins in bulk quantities from the Mint based on the market price of the precious metals, plus a mark up. In turn, they resell the coins to other precious metals dealers, coin dealers, and the public, as well as facilitate a two way market for the bullion coins.

The US Mint began sales of 2011-dated Gold and Silver Eagles on January 3, 2011. Because inventory of 2010-dated coins remained, the Mint required authorized purchasers to order the newer coins on a ratio basis. For every five 2011 Silver Eagles ordered, they were required to take one 2010 Silver Eagle. For Gold Eagles, the AP’s could order four 2011 coins for every one 2010 coin.

At this time, the US Mint only has available one ounce 2011 Gold Eagles, with fractional weight coins planned to be issued later in the year. The American Silver Eagle is only produced in one ounce size. The release dates for the 2011-dated American Platinum Eagle and 24 karat American Gold Buffalo coins have not yet been announced.

So far, the month of January 2011 is shaping up to be a strong one for silver bullion sales. The past week’s orders for 1,322,000 ounces, bring the monthly (and year to date) total to 3,407,000. In January 2010, the US Mint had sold 3,592,000 ounces for the entire month.

US Mint Mint Bullion Coin Program Sales 1/12/2011 (ounces)

Prior Week Year to Date
American Silver Eagle 1,322,000 3,407,000
American Gold Eagle 25,000 43,500
American Platinum Eagle 0 0
American Gold Buffalo 0 0

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