For a second week in a row, the United States Mint reduced its weekly allocation of American Eagle silver bullion coins. The agency has limited sales of the one-ounce, 99.9% pure silver coins since their return after temporarily selling out in July.
This week’s allocation fell to 750,000 coins, marking a 7.4% reduction. Last week’s allocation dropped 19.1% to 809,500 coins from the prior week’s supply of 1 million coins. The opening week of September also saw a rationing level of 1 million coins.
These weekly inventories have disappeared quickly. Last week and the week before that, the Mint’s authorized purchasers ordered all available Silver Eagles within two days.
American Silver Eagle sales at 34,304,500 for the year continue to run at a record pace, up 14.8% through the same time last year. In 2014 when Silver Eagle sales ended at a record 44,006,000, the coins through Sept. 21, 2014 posted sales of 29,871,000. The Mint also allocated sales last year but not during the summer months.
The U.S. Mint does not sell bullion American Silver Eagles directly to the public but through a network of authorized purchasers who buy them in bulk at melt value, plus a premium of $2 per coin. AP’s consist of major coin and precious metals dealers, brokerage companies, and other participating financial intermediaries.