American Silver Eagle Sales Nudge Higher in June
U.S. Mint sold 435,000 American Silver Eagle Coins in June.
Sales of American Silver Eagles (ASE’s) rose to 435,000 in June 2018 from 380,000 sold in May. Sales of one ounce American Gold Eagle coins at the U.S. Mint also rose sharply in June to 21,500 from 18,500 in May.
American Silver Eagle sales were up 14.8% from May 2018, but down 55.9% from 986,000 sold in June 2017.
Sales of American Silver Eagle Coins in June 1987 – 2018
American Silver Eagle sales kicked off January with a solid 3.25 million sold, down modestly from recent Januaries but up significantly from the closing months of 2017. Feb, March and April 2018 sales of American Silver Eagles were 942,500, 915,000, 915,000, respectively. May 2018 sales of 380,000 American Silver Eagles were the lowest May total since 2005 when just 305,000 ASEs were sold. June sales of 435,000 rebounded from their May low, but were also lower than June 2017 sales when 986,000 American Silver Eagles were sold.
American Silver Eagle Sales in Recent Years
Sales of American Silver Eagles hit records in each of 2013- 2015 with 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. Sales of American Silver Eagles fell further in 2017 to 18,065,000. American Silver Eagle sales in 2018 through June are on pace to be lower than 2017 ASE sales.
Through June 2018, the U.S. Mint has sold 6,288,500 ASEs vs. 12,233,500 ASEs sold through June 2017, a decline of 48.6% year over year.
Silver Price Relatively Unchanged Over Ten Years
The price of silver since hitting its peak of about $50 in 2011 and declining from 2011-2015 has remained mostly in a range of around $15-18 from 2015 to early 2018. Many chartists view this as a base building period for silver, in anticipation of a move higher. Silver is known for its prior sudden and historic price spikes. You can see from the chart below the swift uptick of the price of silver in 2010 and 2011.
American Silver Eagle demand is not reliable gauge of the price of silver. American Silver Eagle sales rose while the price was rising in 2010-2011 and also rose to record levels in 2015 when the silver price was falling to recent lows. Rather than try to time the market, many silver buyers employ dollar cost averaging whereby they purchase American Silver Eagles every month or every quarter in order to smooth out any price fluctuations and avoid going “all in” at high price.
The price of silver in 2018 continues to trade in a narrow range and through July 3 is down nearly 6% this year.
BGASC.com sells American Silver Eagles at competitive prices. American Silver Eagles are available for sale individually or in rolls of twenty or “monster boxes” of five hundred coins.
BGASC.com also sells backed dated American Silver Eagles. Click here to browse pre 2018 ASE’s for sale.
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.