Investors purchased fewer American Eagle Silver bullion coins in March 2011, but the investment grade issues still managed to tally up never-before-seen quarterly sales.
2,767,000 of the 99.9% pure silver coins were ordered last month from the United States Mint, according to the bureau’s most recent coin sales.
While the total is not insignificant and it must take into account US Mint coin rationing, it pales in comparison to recent monthly sales in which records have been shattered.
Take for example the previous month of February when 3,240,000 of the Silver Eagles were purchased. The level marked their best February ever. It also ranked as the seventh best month on record, dating back to the series launch in 1986.
Even that, however, falls short of the astonishing 6,422,000 which flew off US Mint shelves in January 2011. That single month now ranks at the top for Silver Eagles, pulverizing the prior monthly sales record by over 50%.
Combined, the first three months of this year attained the best ever quarter for the eagles, owing in large part to those January sales. January, February and March 2011 bullion coin sales totaled 12,429,000. This leveled the previous record set by October, November and December of 2010 by 3,247,000, or an increase of more than 35%.
Part of the sales drop last month is more of an indicator of just how well the bullion coins have performed in the last few years. Only one of the top 15 months for Silver Eagle bullion coin sales can be linked to a year other than 2009, 2010 or 2011.
Top Fifteen Silver Bullion Coin Sales Months
|
1
|
January 2011
|
6,422,000 |
|
2
|
November 2010
|
4,260,000 |
|
3
|
December 1986
|
3,696,000 |
|
4
|
May 2010
|
3,636,500 |
|
5
|
January 2010
|
3,592,500 |
|
6
|
March 2010
|
3,381,000 |
|
7
|
February 2011
|
3,240,000 |
|
8
|
October 2010
|
3,150,000 |
|
9
|
March 2009
|
3,132,000 |
|
10
|
June 2010
|
3,001,000 |
|
11
|
July 2010
|
2,981,000 |
|
12
|
October 2009
|
2,939,000 |
|
13
|
July 2009
|
2,810,000 |
|
14
|
December 2009
|
2,773,500 |
|
15
|
March 2011
|
2,767,000 |
It should also be noted that recent sales have occurred at a time when the silver market is fluctuating at thirty-one year highs.
Missing from US Mint bullion coin sales this year are the America the Beautiful Silver Bullion Coins which first debuted last year. All of the 2010-dated issues of the five ounce silver coins were sold out in December. The US Mint indicates it plans on introducing the first 2011-dated coin in late April. (See 2011 release details.)
New American bullion coins are sold by the Mint’s network of authorized purchasers to coin dealers and individuals for a small premium above the current market value of silver.
