April 20, 2024

US Mint Gold and Silver Bullion Sales Flat as Prices Hit New Highs

Currently, the United States Mint has three bullion products available to its network of authorized purchasers. The American Silver Eagle is struck in one ounce of .999 fine silver. The American Gold Eagle is struck in 22 karat gold and comes in one ounce, half ounce, quarter ounce, and tenth ounce bullion weights. The American Gold Buffalo is struck in 24 karat gold and available in one ounce size only.

Authorized purchasers may order bullion coins from the US Mint in bulk quantities based on the price of the previous metals plus a fixed (silver) or percentage (gold) markup. In the latest week, bullion sales at the US Mint were little changed from recent levels, even as the price of gold hit a fresh all time high and the price of silver trades at a 31-year high, approaching its all time high price.

US Mint Bullion Coin Program Sales 4/20/2011 (ounces)

Prior Week Month to Date Year to Date
American Silver Eagle 727,000 2,101,000 13,803,000
American Gold Eagle 13,500 58,500 358,000
America the Beautiful Silver 0 0 0
American Platinum Eagle 0 0 0
American Gold Buffalo 5,000 12,500 50,500

The US Mint sold 727,000 ounces worth of Silver Eagles during the period. For several weeks running, sales have stayed around this same basic level, which is a more reflection of the US Mint’s production capacity than market demand. Since the start of sales for the 2011 Silver Eagles, the US Mint has imposed its rationing program, allocating available supplies amongst the authorized purchasers.

Gold bullion sales were 18,500 ounces in the past week, up slightly from the 17,500 ounces sold in the prior period. Sales consisted of 13,500 ounces of Gold Eagles and 5,000 ounces of Gold Buffalo coins.

Next week, the US Mint will expand their bullion offerings when the first two designs of the 2011 America the Beautiful Silver Bullion Coins go on sale. Production has been indicated at 126,500 units for each design, representing 1,265,000 troy ounces of silver since each coin has a weight of 5 ounces.

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