Silver Eagle Limited by US Mint to 1.1 Million a Week

Silver Eagle Limited by US Mint to 1.1 Million a Week

United States Mint distributors should be able to order as many American Eagle silver bullion coins as they like this week, based on the latest allocation level and past buying trends. The U.S. Mint has rationed sales of Silver Eagles since their return after temporarily selling out in July. Fewer coins are available this week than the previous one, but more than distributors could have ordered in any week since the one ended Oct. 9.

This week’s allocation slipped 6.7% to 1,107,500 coins. Last week’s supply jumped 13.8% to 1,187,000 coins from the prior week’s amount of 1,043,500 coins. The next weekly allocation will be announced by Nov. 16. Weekly inventories through most of the summer sold within a few days of their release. That hasn’t been the case for four straight weeks, reflecting an easing in demand. Actual orders of American Silver Eagles in each of the past four weeks have totaled:

  • 1,079,500 coins through the week ended Nov. 6

  • 856,500 coins through the week ended Oct. 30

  • 926,500 coins through the week ended Oct. 23

  • 930,000 coins through the week ended Oct 16

Despite rationing and recent weakened demand, sales of the one-ounce, 99.9% pure silver coins at 40,922,000 for the year continue to run at a record pace. They are 4.1% higher than a year earlier when sales reached 39,301,000 coins through Nov. 6, 2014. Last year, Silver Eagle sales ended at an annual record of 44,006,000 coins.

The U.S. Mint does not sell American Eagle silver bullion coins directly to the public. They are sold through a network of authorized purchasers. AP’s consist of major coin and precious metals dealers, brokerage companies, and other participating financial intermediaries. They must pay $2 more than the spot value of each coin they buy.