A new record has been set for sales of American Silver Eagle bullion coins, the United States Mint announced Tuesday.
Consistent high monthly sales this year has led to the record which now stands at 40,175,000 ounces. The previous record of 39,868,500 ounces was set in 2011.
Top Five Years for US Mint Silver Eagle Sales
*Indicates sales through November 12, 2013.
News of the milestone was expected. Demand for the bullion strikes has been hot all year. Of the top twenty Silver Eagle sales months since the bullion coins debuted 27 years ago, eight belong to 2013.
Silver Eagle sales have exceeded 3 million in each month this year, notable when considering that there was just one month that hit the mark before 2009 — and that happened in December 1986, the first full month of Silver Eagle availability.
Among record months in 2013 is January when the U.S. Mint registered sales of 7,498,000 ounces, the all-time monthly high. The bureau started selling 2013-dated American Silver Eagles on Jan. 7 but not for long as sales were suspended on Jan. 17 when their inventory was depleted. Sales resumed on Jan. 29, but from that point on buyers were limited in how many they could order. An allocation system remains in place today and will continue into next year.
The United States Mint will issue its last weekly allocation of 2013-dated Silver Eagles on Dec. 9, 2013. The Mint will begin accepting orders for 2014-dated Silver Eagles on Jan. 13, 2014.
American Silver Eagles are struck from one ounce of .999 fine silver. Each bears Adolph A. Weinman’s "Walking Liberty" design on the obverse and John Mercanti’s heraldic eagle with shield on the reverse.
Produced at both the West Point Mint and San Francisco Mint, bullion Silver Eagles are sold through the Mint’s network of authorized purchasers. These purchasers obtain the coins in bulk and then resell them in smaller quantities at a modest premium above the current spot price of the silver they contain.
Annual Silver Eagle sales totals traditionally include coins minted and dated from multiple years as coin inventories from previous years are generally sold in the first few weeks of the following year. This was not the case for 2013, however, as 2012-dated bullion Silver Eagles sold out in mid-December.