Skip to main content

Eagle sales come on strong

(Image courtesy usmint.gov)

Don’t read too much into this, but silver American Eagle bullion coins have had their best September sales figure since the record-setting year of 2015.

Back in 2015, the U.S. Mint sold 47 million silver Eagles. So far in 2018, it hasn’t managed 12 million.

However, the September 2018 number of 2,432,500 coins is the best since 2015’s 3,804,500.

Perhaps it would be better to write that September has been a bad month in more recent years.

Just last year, the Mint sold only 320,000 silver Eagles in September. In 2016, the monthly tally was 1,675,000.

Since 2018 has been a down year for the precious metal, it is possible this month is a turning point. Silver is at bargain prices just over $14 an ounce. It has fallen by 16 percent since it ended 2017 trading at $17.06.

The Mint ran out of silver Eagle bullion coins Sept. 6. Sales resumed Sept. 17.

Supplies as they are produced are being rationed. The Mint expects this situation to continue through the end of 2018.

The Mint calls rationing “allocation.” The biggest regular buyers get the biggest allocations among the official Authorized Purchasers.

Collectors cannot buy the bullion American Eagle coin directly from the U.S. Mint. Only the collector proofs and uncirculated coins can be purchased by them directly. Authorized Purchasers must meet strict Mint financial requirements to obtain the designation.

News of silver Eagles going on allocation perhaps makes them seem like a forbidden fruit among buyers, something to be obtained at any price.

As the Oct. 16 issue of Numismatic News was being prepared, there were still two business days left in the month. However, if buyers are taking coins as fast as they are becoming available, the September sales figure will not change.

 

This article was originally printed in Numismatic News. >> Subscribe today.

 

2019 North American Coins & Prices
If you like what you’ve read here, we invite you to visit our online bookstore to learn more about 2019 North American Coins & Prices.
 
Learn more >>>

The post Eagle sales come on strong appeared first on Numismatic News.

Comments

Post a Comment

Popular posts from this blog

Royal Mint Partners with NGC to Offer Certified UK Coins

The Royal Mint, the official mint of the United Kingdom, has partnered with Numismatic Guaranty Corporation (NGC), the world's largest third-party coin grading service. For the first time, The Royal... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Post a Comment
Read more

Gold goes digital: Dillon Gage introduces DGGold future of direct physical gold ownership, now available to investors

Addison, Texas (August 15, 2018) —  Dillon Gage Metals , one of the world’s largest precious metals wholesale firms and technology innovators in the industry, recently launched its first Digital Metals product: DGGold. This product is the first of its kind to be offered to the retail public through Dillon Gage’s growing precious metals dealer network. It is eligible for purchase on their proprietary online trading platform, FizTrade. DGGold, which utilizes VaultChain Gold powered by Tradewind, delivers an unprecedented method of direct gold ownership to the investment community, expanding on Dillon Gage’s already impressive lineup of product and service offerings. “I am excited to introduce Dillon Gage Metals’ newest product to the individual investor and individual retirement account investment community,” said Mark Furmanek, chief operating officer at Dillon Gage Metals. “DGGold brings an investment product, previously dominated by large institutions and bullion banks...
Post a Comment
Read more

Heritage Readies Long Beach Paper Money Auction

By Tracy Schmidt  There are many spectacular notes in Heritage’s upcoming Long Beach auction. The top five I will be keeping an eye on are notes of exceptional quality. I look forward to sharing the auction results with you next month. The first note is Lot 20637, a $10,000 1934 Federal Reserve Note PMG-graded Unc. 66 EPQ. According to Heritage, the note is one of just three $10,000s certified by PMG at this level for all series and districts. Having perfect centering, ideal colors, and excellent eye appeal, it should be a great performer. The note is projected to exceed its estimate of $200,000-$300,000. At the time of writing, the note has 13 bids and registered phone bidders; the lot tracking activity stands at 94, and there have been 3,010 page views. Lot 20637 is this $10,000 1934 Federal Reserve Note with signatures of Julien and Morgenthau. (Image courtesy of Heritage Auctions) The second note I am tracking is Lot 20635, a $5,000 1934 Federal Reserve Note graded Very C...
Post a Comment
Read more