US Mint Sales: Lower Bullion, Suspensions Trip Collector Silver Products

Lower precious metals have spurred United States Mint sales of investment-grade bullion coins but they have been detrimental, along with resulting coin suspensions, to collector silver products.

The Mint suspended silver products on Monday, September 26, when silver tumbled $10+ to below $30 an ounce. The latest United States Mint sales figures show totals lower than last week’s report for each of the suspended silver coins.

As cancellations and returns crept in, the uncirculated American Silver Eagle suffered the biggest blow. It plunged 11,476 to 182,524. Five silver products had their sales trimmed.

1. 2011-W Uncirculated American Silver Eagle (-11,476 to 182,524)
2. 2011-W Proof American Silver Eagle (-578 to 752,103)
3. 2011-P Gettysburg ATB Five Ounce Silver Uncirculated Coin (-506 to 9,043)
4. 2011-P Grand Canyon ATB Five Ounce Silver Uncirculated Coin (-51 to 27,513)
5. 2011-P Mount Hood ATB Five Ounce Silver Uncirculated Coin (-30 to 22,422)

The four 2010 and 2011-dated silver proof sets were also suspended last week but each registered a modest sales increase. The sets may see healthier gains in next week’s report given that they were taken off suspension on Wednesday, October 5. Although, it must be noted, they returned at their same pre-suspension prices. The other silver products remain on suspension as of this writing.

Collector gold coins have had their prices cut for four straight weeks. Collectors have been pressing their buy buttons a bit more at the cheaper prices. An exception was the one-ounce 2011-W American Eagle Gold Proof Coin which had its total decremented 241 from last week.

Overall, 45 United States Mint products enjoyed week-over-week improvements compared to the previous 63. Proof sets and uncirculated sets dominated the top five numismatic selling spots for the Mint.

1. 2011 Proof Set (+8,780 to 845,422)
2. 2011 Mint Set (+3,638 to 433,468)
3. 2011 Presidential $1 Proof Set (+1,868 to 236,080)
4. 2011 America the Beautiful Quarters Proof Set (+1,501 to 111,215)
5. 2011 Presidential $1 Uncirculated Set (+803 to 40,223)

Bullion coins have been mostly hotter as physical demand is up and their prices move in tandem with daily changes in precious metals. Bullion Silver Eagles, in particular, are on fire. Their September sales scored the second highest monthly total going back to the series start in 1986. October sales are starting fast with 1,012,000 more purchased in five days. Their latest 2011 total is 34,423,500, or 239,001 away from topping 2010’s record of 34,662,500.

The latest US Mint sales figures for bullion and collector coins and sets are available in the following tables:

US Mint Sales: Bullion Coins

*The as of date for US Mint sales of 1-ounce and under bullion coins is Wednesday, October 5, 2011. For reference, 53,000 of the 2010-dated 1-ounce Gold Eagles remained for sale earlier this year and are included in the overall totals. The bullion sales figures also include 469,500 of the 2010-dated Silver Eagle bullion coins sold in January. The as of date for US Mint sales of its America the Beautiful 5-ounce Silver Bullion Coins is Monday, October 3, 2011.

The following are the latest tallies for US Mint collector products:

US Mint Sales: Collector Products

*NLA – No Longer Available.

The collector coin sales figures above have an "as of date" of October 3, 2011. Visit the United States Mint website at http://www.usmint.gov/ for more information on any of the above products, or this site’s U.S. coins page.