March 29, 2024

US Mint Silver Eagle Bullion Coin Sales Jump

The pace of United States Mint gold and silver bullion coin sales picked up in the prior week. The US Mint currently has available one ounce American Silver Eagles in allocated quantities and unrestricted quantities of American Gold Eagles.

The latest available statistics show an increase of 1,509,500 ounces of silver bullion sales. In the previous two weeks, the US Mint had sold 908,000 and 833,500. Although sales show a big increase, it could be higher if not for the US Mint’s allocation program. Authorized purchasers are currently limited in the number of coins that they can order, which means sales are not an indication of the full demand for silver bullion.

American Gold Eagle sales increased by 37,000 ounces since the last report. This compares to sales of 28,000 and 31,500 in the prior two weekly periods. The increased demand comes as the price of gold recently reached a new all time high above $1,440 per ounce. For the past several years the rising price of gold has been accompanied by strong demand for physical gold.

US Mint Bullion Coin Program Sales 3/2/2011 (ounces)

Prior Week Month to Date Year to Date
American Silver Eagle 1,509,500 0 9,662,000
American Gold Eagle 37,000 6,000 232,000
America the Beautiful Silver 0 0 0
American Platinum Eagle 0 0 0
American Gold Buffalo 0 0 0

Year to date US Mint bullion coin sales have now reached 9,662,000 ounces of silver and 232,000 ounces of gold. Both figures represent an increase from the average pace of sales experienced in the prior year.

During 2010, the average monthly sales level for Silver Eagles was 2,888,541 ounces, while the average monthly sales of Gold Eagles was 101,708 ounces.

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