October 2011 American Eagle Silver Bullion Coin Sales Top 3M Milestone

2011 American Eagle Silver Bullion Coin
United States Mint sales of the American Eagle Silver Bullion Coin topped 3 million last month

American Eagle Silver bullion coins cleared the three million marker in October, a formidable milestone that assured certain notable rankings. However, the sales pace was down 31.3 percent from the previous month and off 2.7 percent from the same time last year.

36,475,500 Silver Eagles sold between January and October, a figure which continues to add to their annual sales record. 2011 earned the title for their highest selling year in the first six days of October when year-to-date sales passed the old annual record of 34,662,500 from 2010.

Investors purchased 3,064,000 of the 99.9% pure silver coins in October after taking 4,460,500 in September — the second highest monthly sales in the American Eagle Silver coin’s history. Overall, October ended with the seventh best monthly total so far in 2011, a year in which the Eagles have been selling like hotcakes. The following table provides Eagles sales figures for each month this year:

2011 American Eagle Silver Bullion Coin Sales

  Monthly Sales Monthly Rank
January 6,422,000 1
February 3,240,000 6
March 2,767,000 10
April 2,819,000 9
May 3,653,500 4
June 3,402,000 5
July 2,968,000 8
August 3,679,500 3
September 4,460,500 2
October 3,064,000 7
Total* 36,475,500


As mentioned, October landed softer than what was reached in the same month in 2010 (by 86,000), but it was higher than 2009’s figure of 2,939,000. As such, 2011 came in with the second best October total since the series began in 1986.

When comparing last month to other monthly performances throughout the American Silver Eagle history which dates back to 1986, sales in October ranked 14th best, as the table below illustrates.

Top 15 Sales Months for American Eagle Silver Bullion Coin

1 January 2011 6,422,000
2 September 2011 4,460,500
3 November 2010 4,260,000
4 December 1986 3,696,000
5 August 2011 3,679,500
6 May 2011 3,653,500
7 May 2010 3,636,500
8 January 2010 3,592,500
9 June 2011 3,402,000
10 March 2010 3,381,000
11 February 2011 3,240,000
12 October 2010 3,150,000
13 March 2009 3,132,000
14 October 2011 3,064,000
15 June 2010 3,001,000


Other American Eagle Silver Coin Sales

One factor that bumped bullion sales slightly higher last month was the inclusion of a numismatic offering from the Mint. The five-coin Silver Eagle 25th Anniversary Set launched and sold out on the same day, October 27.

American Silver Eagle 25th Anniversary Set
American Silver Eagle 25th Anniversary Set

Buyers picked up all 100,000 of the sets. It contained four collector American Eagle Silver coins, two proofs and two uncirculated, as well as one of the investment-grade bullion issues. Typically, the United States Mint only sells its bullion coins to its network of Authorized Purchasers, but the Silver Eagle 25th Anniversary Set was an exception.

As for other American Eagle Silver offerings available, the 2011-W Proof Silver Eagle has been selling very well. It launched on June 30, and currently goes for $58.95. Its latest sales total hit 805,897 as of October 31. The 2011-W Uncirculated Silver Eagle hit the market on September 15 and 183,043 sold. Its present price is $50.95.

Each version of the American Eagle Silver coin is composed of one ounce of 99.9% fine silver and has the same obverse (heads) and reverse (tails) designs. The key differences are the finishes and the mint mark denoting where it was produced.

The collector proof version has a mirror-like background with a frosted and sculpted foreground while the bullion and uncirculated strikes are described as having a brilliant finish. Both the proof and uncirculated strikes have mint marks on their reverse side.

American Gold Eagles

The United States Mint also sold several thousand gold bullion coins during the month. In October, American Gold Eagle sales reached 50,000 ounces, down significantly from the 91,000 ounces in September. Gold Eagles are sold in fractional sizes consisting of one ounce, half ounce, quarter ounce, and tenth ounce coins. 65,000 coins in all were sold.

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