U.S. Mint sold 2,897,500 American Silver Eagle Coins in September – up 792% from September 2017.
Declining Silver Prices Boost Sales
Sales of American Silver Eagles (ASE’s) rose to 2,897,500 in September 2018 up 89.4% from 1,530,000 sold in August, 885,000 sold in July, 435,000 sold in June and 380,000 sold in May. American Silver Eagle sales in September were up 792% from 325,000 sold in September 2017. The 2,897,500 American Silver Eagles sold in September were the highest September total since September 2015 when 3,804,500 American Silver Eagles were sold.
Sales of American Silver Eagle Coins in September 1987 – 2018
September’s sales of American Silver Eagles also marked the second time that monthly sales were higher in 2018 vs 2017 sales.
Through September 2018, the U.S. Mint has sold 12,135,500 ASEs vs. 15,898,500 ASEs sold through September 2017, a decline of 23.7% year over year.
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, and 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. July American Silver Eagle sales continued to climb to 885,000 but were still lower than the 2,320,000 sold in July 2017.August sales of ASEs were 1,530,000. Despite September’s robust sales, year to date sales through September in 2018 are down 24% from 2017.
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 August are on pace to be 40% lower than 2017 ASE sales.
American Silver Eagle Sales vs American Gold Eagle Sales
Since the financial crisis of 2008, the popularity of American Silver Eagles has increased as represented by the ratio of American Silver Eagles sold compared to the number of American Gold Eagles sold.
Silver Price Drops
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. Demand often spikes as a result of steep price declines, leading to “V” shaped price recoveries.
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 has fallen steadily since mid July 2018 and through September 30 is down about 15% 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.