Sales of American Silver Eagle Coins Rise in October to Over One Million.
The U.S. Mint sold 1,040,000 one ounce American Silver Eagle coins (ASE’s) in October 2017. This reflects a 225% increase in sales of ASE’s from September when 320,000 were sold.
Sales of American Silver Eagle coins in October were down 72.8% from 3,825,000 sold in October 2016.
As of October 31, 2017, the U.S. Mint had sold 16,938,500 ASE’s which is 50.8% fewer than the 34,400,500 ASEs the US Mint sold through October 2016. Last year the U.S. Mint sold 37,701,500 million American Silver Eagle coins.
Sales of American Silver Eagle Coins in October 1987 – 2017
U.S. Mint Sold Nearly 94.5 Times More American Silver Eagles Than One Ounce American Gold Eagles in October 2017
While American Silver Eagle sales in October were down relative to prior October sales, sales of of American Gold Eagles in October of 11,000 were down even more compared to October 2016 sales, resulting in a silver to gold sales ratio of 94.5 to 1.
American Silver Eagle 2017 Sales Projection
Sales of American Silver Eagles have hit records in each of 2013- 2015 with record sales of 47,000,000 ASEs in 2015, up from the prior record of 44,006,000 sold in 2014 which was up from a record 42,675,000 sold in 2013. In 2016, sales of American Silver Eagles fell to 37,701,500.
If sales of one ounce American Silver Eagle sales continue at the pace set through the first ten months of 2017, on average of 1,693,850 per month, sales will exceed 20,000,000 in 2017, the lowest annual total sold since 2008 when 19,583,500 ASEs were sold.
Silver Lining? Will This Year’s Low Mintage Mean 2017 Will be Key Date?
In addition to being a silver bullion product, American Silver Eagles have become collectors’ items. Many prior year ASEs have decent premiums based on their relative rarity. Even at the current tepid pace of sales, the 2017 ASEs will top the annual totals of each of the first twenty-one years (1986 – 2007) of the coins mintage, so it is unlikely that any substantial premium would apply to the 2017 ASEs. As we shall see later this week, however, 2017 is shaping up to be a key date for American Gold Eagles (especially in the fractional sized coins) and American Gold Buffalo coins
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.