US Mint Limits Weekly Silver Eagle Sales to 1.1 Million

by Mike Unser on November 9, 2015 · 4 comments

American Eagle silver bullion coin

The U.S. Mint has the production capability to meet the demand for Silver Eagles, but the agency is unable to acquire enough planchets for that to happen. The Mint rations sales to prevent periods of suspensions.

United States Mint distributors should be able to order as many American Eagle silver bullion coins as they like this week, based on the latest allocation level and past buying trends.

The U.S. Mint has rationed sales of Silver Eagles since their return after temporarily selling out in July. Fewer coins are available this week than the previous one, but more than distributors could have ordered in any week since the one ended Oct. 9.

This week’s allocation slipped 6.7% to 1,107,500 coins. Last week’s supply jumped 13.8% to 1,187,000 coins from the prior week’s amount of 1,043,500 coins. The next weekly allocation will be announced by Nov. 16.

Weekly inventories through most of the summer sold within a few days of their release. That hasn’t been the case for four straight weeks, reflecting an easing in demand. Actual orders of American Silver Eagles in each of the past four weeks have totaled:

  • 1,079,500 coins through the week ended Nov. 6
  • 856,500 coins through the week ended Oct. 30
  • 926,500 coins through the week ended Oct. 23
  • 930,000 coins through the week ended Oct 16

Despite rationing and recent weakened demand, sales of the one-ounce, 99.9% pure silver coins at 40,922,000 for the year continue to run at a record pace. They are 4.1% higher than a year earlier when sales reached 39,301,000 coins through Nov. 6, 2014. Last year, Silver Eagle sales ended at an annual record of 44,006,000 coins.

The U.S. Mint does not sell American Eagle silver bullion coins directly to the public. They are sold through a network of authorized purchasers. AP’s consist of major coin and precious metals dealers, brokerage companies, and other participating financial intermediaries. They must pay $2 more than the spot value of each coin they buy.

{ 4 comments… read them below or add one }

Joe November 9, 2015 at 12:50 pm

It really erks me that they don’t sell them to the public. But the “authorized dealers” can rip off the public. I hope they get stuck with the 40 million with the price of silver tanking. To the mint: MAKE THEM AVAILABLE TO THE PUBLIC WITH THE SAME PRICE YOU CHARGE THE “AUTHORIZED DEALERS!!!!

David November 9, 2015 at 2:02 pm

Or at least offer us some type of deal on them. I think a 10 or 20 pack at $2.50 over spot plus $4.95 shipping would be a reasonable deal. Guess they would have to figure out how to change the price at least every day, but that might not be that hard to do. Even if they only made the price good for a few hours after the afternoon spot price goes into affect, at least dedicated buyers could grab what they wanted. Look at the hoops people had to jump through to get the C&C sets. The might not be able to offer returns on these either due to the volatility of silver. Thinking all the issues through it makes sense that they don’t offer them, but it would be nice if they figured out a way to do it.

RonnieBGood November 9, 2015 at 5:54 pm

The price of metals are not “tanking”. It is the value of the dollar that is causing the drop. Since it is almost certain that the interest rate will now rise in December the dollar has had a very strong result (worth more) against foreign currency and all commodities that are based on the dollar. That said, the mint has made no adjustments to the price of their silver coinage.

Joe November 10, 2015 at 1:14 am

To the Joe above. Nothing is going to change. Just the price of silver will.

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