Higher Silver Prices Curb February Sales
Sales of American Silver Eagle coins at the U.S. Mint fell in February as price of silver continued to rise and the geo-political situation was relatively calm. The price of silver rose about $2 an ounce or about 12% from $16.30 an ounce on January 3 to $18.31 an ounce by the end of February.
February 2017 American Silver Eagle Sales
The U.S. Mint reported selling 1,215,000 one ounce American Silver Eagle coins (ASE’s) at the U.S. Mint in February. February sales of American Silver Eagle were down 76% from January sales of 5,127,500 and down 74% from February 2016 sales of 4,782,000.
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.