After an uptick in sales sales in October, American Silver Eagle sales slumped in November.
Sales of American Silver Eagle Coins Fall in November to 385,000.
The U.S. Mint sold 385,000 one ounce American Silver Eagle coins (ASE’s) in November 2017. This reflects a 63% decrease in sales of ASE’s from October when 1,040,000 were sold.
Sales of American Silver Eagle coins in November were down 87.4% from 3,061,000 sold in November 2016.
As of November 31, 2017, the U.S. Mint had sold 17,323,500 ASE’s which is 53.8% fewer than the 37,461,500 ASEs the US Mint sold through November 2016. Last year the U.S. Mint sold 37,701,500 million American Silver Eagle coins.
2017 American Silver Eagle sales have fallen more than 50% from 2016’s sales
Sales of American Silver Eagle Coins in November 1987 – 2017
U.S. Mint Sold 40 Times More American Silver Eagles Than One Ounce American Gold Eagles in November 2017
While American Silver Eagle sales in November were down relative to prior November sales, sales of of American Gold Eagles in October of 9,500 were down even more compared to November 2016 sales, resulting in a silver to gold sales ratio of 40.5 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.
In most years the United States Mint closes down production and sales of current year Silver Eagles in the first or second week of December. Through November 31, sales of American Silver Eagles were 17,323,500. Through December 5, sales were 17,443,500. Absent a dramatic surge in demand and the U.S. Mint’s willingness to meet that demand immediately, sales of American Eagles will probably fall below 18,000,000 in 2017.
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.