The US Mint on Monday ended the allocation process which limited the number of gold and silver American Eagle bullion coins authorized dealers could order. Ironically, as of Monday also, week-over-week sales soared 8.1 percent for the silver eagles and 9.1 for the gold eagles.
Even with the latest surge, the Mint is apparently confident that enough silver and gold blanks are on hand that rationing is no longer needed — at least in the near term.
And with that, a buzz of excitement immediately begins with collectors now wondering whether the Mint has sufficient inventory to begin producing the previously suspended 2009 collector proof and uncirculated versions. Of that, no word has yet been given.
There is often confusion as to the difference between the bullion and collector eagle coins since their designs are identical. The former has mintages based on demand and a requirement the Mint meet that demand above all else — all else meaning the collector versions take the back seat when required, like suspensions when coin blanks are limited.
The eagle bullion coins are sold only to the Mint’s "authorized purchasers" who then offer the coins to investors, dealers or directly to the public. (These coins are never available on the Mint’s web site for the public to order.)
In the Mint’s own words, the coins are struck to "provide investors with a convenient and cost effective way to add a small amount of physical platinum, gold, or silver to their investment portfolios." A major distinguishing characteristic is that they have no mint mark.
The collector coins, on the other hand, are struck in proof and uncirculated conditions and bear the "W" mint mark denoting production in West Point. The Mint sales these coins directly to the public.
Demand for the bullion coins has been exceptional this year. Both the silver and gold eagles are on a record-setting pace. The silver eagles are on track to shatter mintages levels never before seen since the series began in 1986.
Here are tables containing the most recent Mint sales figures for the coins as well as year-to-date totals:
Latest Two Weeks Bullion Coin Sales Totals
|
June 8
|
June 15
|
Unit Difference
|
% Difference
|
|
| Silver Eagle Sales |
11,956,500
|
12,924,500
|
968,000
|
8.1%
|
| Gold Eagle Sales |
570,000
|
622,000
|
52,000
|
9.1%
|
2009 American Eagle Bullion Coin Sales by Month
| Silver Eagles | Gold Eagles | |
| January | 1,900,000 | 92,000 |
| February | 2,125,000 | 113,500 |
| March | 3,132,000 | 136,500 |
| April | 2,518,000 | 147,500 |
| May | 1,904,000 | 65,000 |
| June | 1,345,000 | 67,500 |
| Total* | 12,924,500 | 622,000 |
*As of June 15.
For a history on the suspension of the 2009 gold and silver collector coins, read American Eagle Gold Coins Suspended and American Eagle Silver Coins Suspended.
WHERE HAVE ALL THE BEAUTIFUL ENGELHARD SILVER COINS GONE? PRODUCED FROM 1982-1987, IN AMERICA, THESE WERE IN GREAT DEMAND BEFORE THE AMERICAN EAGLE WAS PRODUCED, (1982 TO PRESENT) I UNDERSTAND THE ‘83,86,AND 87’ COINS WERE THE RAREST ONES AND ALL THAT CAN BE SEEN BASICALLY ARE THE 84,85 COINS ON EBAY FOR SALE, VERY FEW OF THE ONES I HAVE MENTIONED. ANY ANSWERS AND COST OF THE RARE ONES. THANK YOU