Silver Sales at the United States Mint Fall 20% in 2016

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Sales of American Silver Eagle Coins in 2016 were 37,701,500, down from a record 47,000,000 in 2015.

American Eagle Silver sales in 2016 went on a roller coaster ride. After the first six months of 2016, American Silver Eagle sales were on pace to smash the 2015 record. After selling an average of more than four million one ounce American Silver Eagle coins (ASEs) during the first six months of the year, the U.S. Mint sales of fell to under two million in each of July, August and September.

Sales of ASE’s came roaring back in October and sales in November topped three million again but were lower by 20% that October’s sales. December American Silver Eagle sales total of 240,000 were one of the lowest ever in the month of December. During the second half of 2016, sales of American Silver Eagles declined, while sales of American Gold Eagles increased. In the first six months of 2016, the U.S. Mint sold 26.2 million American Silver Eagles vs 11.4 million sold the last six months, a 56% decline. In contrast, the U.S Mint sold 405,500 one ounce American Gold Eagle coins in the first six months of 2016 vs. 412,500 during the last six months, an increase of 1.6%.

   BGASC 2016 monthly silver eagle s
Sales of American Silver Eagles were on record pace in the early months of 2016, then fell sharply.

The U.S. Mint issued a 30th Anniversary American Silver Eagle coin in 2016.

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Sales of American Silver Eagle Coins in December 1986 – 2016

BGASC American Silver Eagle sales in December 1986 - 2016
December 2016 sales of American Silver Eagles were one of the worst December totals ever in the coin’s thirty year history.

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.

Sales of American Silver Eagles in 2016 of 37,701,500 were down 20% from 2015’s sales. 2016 ASE sales, however, were the fifth best in the coin’s thirty year history.

BGASC American Silver Eagle sales 1986 - 2016 FINAL
U.S. Mint Sold 46 Times More American Silver Eagles Than One Ounce American Gold Eagles in 2016.

Gold Eagles became increasingly favored over Silver Eagles during the final months of 2016.
American Silver Eagle sales were on record pace the past three years and earlier this year, while sales of American Gold Eagle (AGEs) coins had been lackluster the past few years. AGE sales sprung to life in 2016. 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 about 75 to one. In 2016,due to surging gold eagle sales and declining silver eagle sales. the silver to gold sales ratio fell to 46 to one as the U.S. Mint sold 817,500 American Gold Eagles, the largest amount since 2010.

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

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This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.