July 2011 Sales of American Eagle Silver Bullion Coins Retreat


2011 American Eagle Silver Bullion Coin

Investors purchased fewer American Eagle Silver bullion coins in July 2011 as compared to June, but a slowdown is typical for this time of year.

In fact, July has been slower than June for seven of the last ten years. This time the difference was 434,000. Still, the month ended with the second best July total ever and ranked 14th in all-time monthly sales, dating back to the series launch in 1986.

2,968,000 of the 99.9% pure silver coins were ordered last month from the United States Mint, according to the bureau’s most up-to-date bullion coin sales figures. This number followed behind July 2010’s record of 2,981,000 by 13,000.

A factor for the cut back in the investment grade issue may have been the competition it had with the collectible 2011 Proof Silver Eagle that launched on June 30. Investors are not the only ones who find the bullion coins attractive, many collectors buy them as well. The hit the investor strikes took could, in part, be due to collectors scooping up around 600,000 of the proofs.

Last month scored fifth place so far in 2011 bullion sales, meaning four of the previous six months are also in the top 15, which is an indication of how well the bullion coins have been performing this year. Furthermore, only one of the top 15 months for Silver Eagle bullion coin sales belonged to a year that was not 2009, 2010 or 2011.

Top 15 Sales Months for American Eagle Silver Bullion Coins

1 January 2011 6,422,000
2 November 2010 4,260,000
3 December 1986 3,696,000
4 May 2011 3,653,500
5 May 2010 3,636,500
6 January 2010 3,592,500
7 June 2011 3,402,000
8 March 2010 3,381,000
9 February 2011 3,240,000
10 October 2010 3,150,000
11 March 2009 3,132,000
12 June 2010 3,001,000
13 July 2010 2,981,000
14 July 2011 2,968,000
15 October 2009 2,939,000


American bullion coins are sold by the United States Mint to their network of authorized purchasers for a small premium above the current market value of silver. They in turn sell to coin dealers and individuals. Every American Eagle Silver coin is composed of .999 fine silver and has the same obverse (heads) and reverse (tails) designs. In key differences to the collector proof version, the bullion coin does not have a mirror-like finish or a mint mark denoting where it was produced.

Other United States Mint silver bullion coins sold in July included five ounce products from the America the Beautiful series. All of the 2010-dated five ounce silver coins sold out last December. The first two in 2011 for Gettysburg and Glacier each sold out with sales of 126,700. The Mint has sold 122,700 of the last three designs of 2011, which are the Olympic, Vicksburg, and Chickasaw coins. The year-to-date sales total for the 2011 coins was 369,400 as of July 27.

Finally, the United States Mint also sold gold bullion coins during the month. In July, American Gold Eagle sales reached 64,500 ounces while American Gold Buffalo sales hit 12,000 ounces. These levels were actually higher than those registered in June.

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