U.S. Mint Sells Over Three Million Silver Eagle Coins in November

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bgasc american silver eagle
Sales of American Silver Eagle Coins Top Three Million For Seventh Time in 2016.

The U.S. Mint sold 3,061,000 ASEs in November down 20% from 3,825,000 sold in October.

2016 has been an uneven year for American Silver Eagle sales. 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. Sales in November topped three million again but were lower by 20% that October’s sales. During the second half of this year, sales of American Silver Eagles have declined, while sales of American Gold Eagles have increased. In the first five months of 2016, the U.S. Mint sold 23.4 million American Silver Eagles vs 11.2 million sold the past five months, a 52% decline. In contrast, the U.S Mint sold 343,500 one ounce American Gold Eagle coins in the first five months of 2016 vs. 388,500 during the past five months, an increase of 13.1%.

bgasc monthly sales of american silver eagles through november 2016
After record sales in the first half of 2016, American Silver Eagle sales dipped during the summer and rebounded in the fall.

As of November, 2016, the U.S. Mint had sold 37,461,500 ASEs which is about 16% less than the mint sold through November 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 November 1986 – 2016

bgasc November American Silver Eagle sales 1986 - 2016
November 2016 sales of American Silver Eagles were the fourth largest November total ever in the coin’s thirty year history.
American Silver Eagle 2016 Sales Projection

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 eleven months of 2016, on average of 3,405,559 per month, sales will exceed 40,000,000 in 2016. Sales in December, however are often lower than other months as the U.S. Mint often curtails production and sales in early December.

BGASC annual american gold eagle sales 1986 - 2016 through november
Sales of American Silver Eagle coins through November 2016 are about 16% lower than 2015’s record pace over the same time period.
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
BGASC 1st quarter 2016 mintage vs 1986-2007
Sales of American Silver Eagles in the first quarter of 2016 were higher than every mintage from 1986-2007.
U.S. Mint Sold 24 Times More American Silver Eagles Than One Ounce American Gold Eagles in November.

Gold Eagles have become increasingly favored over Silver Eagles the past few months.

American Silver Eagle sales were on record pace earlier this year, while sales of American Gold Eagle (AGEs) coins had been lackluster the past few years. AGE sales 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 about 75 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. In July, the silver to gold sales ratio was 45.66 to 1 as the U.S. Mint sold 1,370,000 American Silver Eagles and 30,000 one ounce American Gold Eagles. In August, the silver to gold sales ratio was 26 to 1 as the U.S. Mint sold 1,280,000 American Silver Eagles and 50,000 one ounce American Gold Eagles.In October, the silver to gold sales ratio was 38 to 1 as the U.S. Mint sold 3,825,000 American Silver Eagles and 100,500 one ounce American Gold Eagles.

In November, the silver to gold sales ratio was 24 to 1 as the U.S. Mint sold 3,061,000 American Silver Eagles and 129,000 one ounce American Gold Eagles.

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.