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Silver Eagle Sales Dip 20% in August

Silver News
Sales of American Silver Eagle Coins Fall in August

The U.S. Mint sold 1,025,000 one ounce American Silver Eagle coins (ASE’s) in August 2017. This reflects a 19.9% decrease in sales of ASE’s in August last year when 1,280,000 were sold.

Sales of American Silver Eagle coins in August were down 56.8% from 2,320,000 sold in July.

As of August 31, 2017, the U.S. Mint had sold 15,578,500 ASE’s which is 46% fewer than the 28,900,500 ASEs the US Mint sold through August 2016. Last year the U.S. Mint sold 37,701,500 million American Silver Eagle coins.

Sales of American Silver Eagle Coins in August 1987 – 2016
August sales of American silver eagles 1987 - 2017
August 2017 sales of 1,025,000 American Silver Eagles were the lowest August total since 413,000 ASE’s were sold in August 2006.
U.S. Mint Sold Nearly 158 Times More American Silver Eagles Than One Ounce American Gold Eagles in August 2017

While American Silver Eagle sales in August were down relative to prior August sales, sales of of American Gold Eagles in August of 6,500 were practically non-existent, resulting in a silver to gold sales ratio of 157.69 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 seven months of 2017, on average of 2,225,500 per month, sales will exceed 26,000,000 in 2017, the lowest annual total sold since 2008 when 19,583,500 ASEs were sold.

American Silver Eagle Sales 1986 - 2017 through August
Sales of American Silver Eagle have slowed considerably since the summer of 2016.

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 tomorrow, however, 2017 is shaping up to be a key date for American Gold Eagles, especially in the fractional sized 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

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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.