Sales of American Silver Eagle Coins Slid in June
After selling more than four million one ounce American Silver Eagle coins (ASEs) five months in a row, the U.S. Mint sold “just” 2,837,500 ASEs in June.
Sales of American Silver Eagle coins in May were the most ever sold in the month of May since ASE’s were first minted in 1986. The nearly 4.5 million ASEs sold in May beat the prior May record of 2014 by over 500,000. May’s sales of 4,498,500 million ASEs were the fifth month in a row that the U.S. Mint has sold at least four million. Following the torrid pace of sales in the first five months of 2016, June sales of ASEs tailed off to just under three million.
As of June 30, 2016, the U.S. Mint had sold 26,250,500 ASEs which is 21% more than the mint sold through June 2015. Last year the U.S. Mint set a record by selling 47 million American Silver Eagle coins.
Sales of American Silver Eagle Coins in June 1987 – 2016
A Record First Half For American Silver Eagle Sales in 2016
Sales of American Silver Eagles in the first quarter of 2016 were 23% higher than first quarter 2015 sales. The U.S. Mint sold 14,842,500 ASE’s from January through March 2016. In 2015 during the comparable period the U.S. Mint sold 12,071,000 ASEs. Record first quarter sales of ASEs were followed by record first half sales of ASEs in 2016 of 26,250,500.
First Quarter 2016 sales of American Silver Eagles Were Higher than Entire Year Mintages of Each of 1986-2007
U.S. Mint Sold 45 Times More American Silver Eagles Than One Ounce American Gold Eagles in June 2016
While American Silver Eagle sales are on record pace, sales of American Gold Eagle (AGEs) coins which have been lackluster the past few years, have sprung to life this year. Due to surging ASE sales and tepid gold eagle sales, the silver to gold sales ratio in 2014 climbed to 106 to one and in 2015 it was 110 to one. Through the first quarter of 2016 the ratio was about 80 to one. That ratio dropped to just 43 to one in April, as the U.S. Mint also sold 93,000 American Gold Eagles during the month. In May, the silver to gold sales ratio was 69.74 to 1 as the U.S. Mint sold 4,498,500 American Silver Eagles and 64,500 one ounce American Gold Eagles.
In June, the silver to gold sales ratio was 45.4 to 1 as the U.S. Mint sold 2,837,500 American Silver Eagles and 62,500 one ounce American Gold Eagles.
American Silver Eagle 2016 Sales Projection
American Silver Eagle Sales Headed for Another Record in 2016
Sales of American Silver Eagles have hit records in each of the past three years. Last year the U.S. Mint sold 47,000,000 ASEs up from the prior record of 44,006,000 sold in 2014 which was up from a record 42,675,000 sold in 2013.
If sales of one ounce American Silver Eagle sales continue at the pace set through the first six months of 2016, on average of 4,375,000 per month, sales will exceed 52,500,000 in 2016, another record. Sales may be curbed, however, by the U.S. Mint’s continued rationing of ASE coins to about one million a week and/or lower sales in the second half of the year.
About the American Silver Eagle coin
American Silver Eagle coins are .999 pure silver (ASE’s contain .0007 copper), rather than .9999 silver. The obverse of an American Silver Eagle coin boasts the same design as the obverse of the “Liberty Walking” U.S. $.50 piece that was minted from 1916-1947 of 90% silver and 10% copper. The front of a Liberty Walking Half Dollar and an American Silver Eagle coin features a walking lady liberty depiction designed by Adolph A. Weinman who also worked with Augustus Saint Gaudens, whose design appears on the U.S. gold Double Eagle coin (1907 – 1933) and the contemporary American Gold Eagle coin (1986 – present)
American Silver Eagle sales data from USMINT.GOV
This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.