Mint News Blog

News, Information, and Commentary on US Mint Products

Tuesday, November 30, 2010

Silver Eagle Bullion Sales Break Records

While collectors have recently focused on the collectible proof version of the coin, the American Silver Eagle bullion coins have been breaking records.

The annual sales total for the one ounce silver bullion coins has now reached 32,790,500 based on the latest figures posted on the US Mint's website. With another month of sales left to go, this will beat the previous record sales of 28,766,500 reached in 2009 by a comfortable margin.

This will be the third year in a row that a new annual record sales total has been set. The sales for 2008 had reached 19,583,500, which at the time beat the previous high of 10,475,500 set in 2002.

1986-2010 Silver Eagle Bullion Coin Sales
1986 5,096,000
1987 9,420,000
1988 5,869,000
1989 6,166,000
1990 7,247,000
1991 6,952,000
1992 5,544,000
1993 5,890,000
1994 5,540,500
1995 4,590,000
1996 3,466,000
1997 3,636,000
1998 4,320,000
1999 9,008,500
2000 9,133,000
2001 8,827,500
2002 10,475,500
2003 9,153,500
2004 9,617,000
2005 8,405,000
2006 10,021,000
2007 9,887,000
2008 19,583,500
2009 28,766,500
2010 32,790,500*
*through November 30, 2010

The Silver Eagles sales total for November 2010 will set a record for the highest monthly sales at 4,160,000 ounces. This breaks the previous high of 3,696,000 set all the way back in December 1986.

This monthly sales for November 2010 actually exceed the total annual sales for two years of the program. In 1996 and 1997, sales had reached only 3,466,000 and 3,636,000, respectively.

Silver Eagle 2010 Monthly Sales
January 3,592,500
February 2,050,000
March 3,381,000
April 2,507,500
May 3,636,500
June 3,001,000
July 2,981,000
August 2,451,000
September 1,880,000
October 3,150,000
November 4,160,000
December -
Total 32,790,500

To the US Mint's credit, the recent surge in silver bullion sales has not yet resulted in a suspension or reimplementation of the allocation program (a.k.a.) rationing. American Silver Eagle bullion coins were last subject to allocation at the authorized purchaser level from December 2009 to mid-September 2010.



At November 30, 2010 at 12:46 PM , Anonymous Anonymous said...

Unbelievable numbers. Looks like people have finally caught on to the fact that you cant trust paper promises. Next stop $30!

At November 30, 2010 at 1:10 PM , Anonymous Anonymous said...


At November 30, 2010 at 1:44 PM , Blogger Mint News Blog said...

Thanks. You are correct, the December 1986 sales were 3,696,000, which is higher than this May's total. I will fix that in the post.

At November 30, 2010 at 3:06 PM , Anonymous Anonymous said...

Proof Silver Eagles are already on 2 week delay... if bullion demand persists and the silver price keeps rising... what then?

At November 30, 2010 at 3:47 PM , Anonymous Anonymous said...

Makes one wonder why anyone in their right mind would pay high premiums for a MS70 for 2010. These will be around for eons. Well worth waiting for the prices to fall on the outrageous ripoffs from PCGS dealers.

Doesn't look like the sellout of the proofs will happen any time soon either do to the US Mints complete and total ripoff price. They have every thing to gain by mass producing these proofs as well.

As usual it looks like the US Mint is in no way interested in anything of a rare low mintage for any of their products. Just makes me glad to buy from other extremely low mintage products at other world Mints.

Speaking of something slightly rare from the US Mint. Michael ? Do you know what the total Mintage was for the 2007 and 2008 Annual dollar sets? Which set is actually a lower mintage. Does anyone know? It looks like these two sets may just become the sleeping beauties in the future.

At November 30, 2010 at 4:04 PM , Anonymous Anonymous said...

This news simply begs the question of why the 2009 proof was canceled last year? If they can beat last years records and say they didn't have enough blanks last year when spot price silver was lower. Then why and how could they do the proofs this year when spot prices have reached higher totals. Just makes one wonder what really happened last year. I guess it will be business as usual at the US Mint with the guessing games never stopping. I for one call last year a total blunder for Moy and company on the ASE. Perhaps it was the cost over runs for the UHR and the Lincoln coin and Chronicle that caused the lack of a 2009 Proof ASE. I think I would have accepted that reasoning better then blaming it on high demand and production of the ASE bullion versions.

At November 30, 2010 at 4:08 PM , Anonymous Anonymous said...

Less then a month to go and still no 5 oz Park Cookies?

At November 30, 2010 at 4:31 PM , Anonymous vaughnster said...

The Mint's website is down for maintenance till Wednesday morning. Maybe we'll hear about ATB 5 oz. coins and the 2011 product schedule release dates??

At November 30, 2010 at 5:31 PM , Anonymous Anonymous said...

Didn't the mint have to get some kind of waiver or exemption from congress in order to do the 2010 proof ASE? By law I understood the bullion coins have to be produced to meet public demand and the proof coins are simply an add on if there are enough blanks. Last year the bullion demand too high for proofs and this year as it was also so high the mint had to get Congress approval to do proofs. Anyone else understand this to be the case?

At November 30, 2010 at 8:11 PM , Anonymous Anonymous said...

High sales last year and higher sales this year of the ASE bullion is a mystery when examining the excuse given for last years missing proofs and uncircs from West Point. It just simply makes no sense for the excessive demand excuse given. Will the US Mint continue to be run with no sense of direction? If there is some sort of major announcement coming. It will come just in time for the next blunders made for the anarchists. A hole is a hole and it isn't the first hole. Perhaps we were just simply out of blanks as they said. Either way. I believe the up coming announcements will be a much needed redemption which will ultimately make everyone forgive and forget. Or they will just be business as usual and piss everyone off. At this point I feel nothing but a toss up on either or any given situation.

At November 30, 2010 at 8:12 PM , Anonymous Anonymous said...

Is it me or is anyone else seeing double?

At November 30, 2010 at 8:22 PM , Anonymous Anonymous said...

Notice: The United States Mint is performing system maintenance. While this is in process, the Web site and Customer Service Center are unavailable for placing orders. Customer Service will resume operations at normal business hours from 8:00 a.m. to 12:00 midnight (ET) tomorrow, and the Web site as soon as possible. We apologize for the inconvenience this may cause our valued customers.


At November 30, 2010 at 9:32 PM , Anonymous Anonymous said...

Could this mean a sell out of the Proofs and the announcement of the 5 oz parks

At November 30, 2010 at 9:56 PM , Anonymous Anonymous said...

I received my 2010 Proof ASEs today. Both coins are flawless and should grade 70. However, on one of them, on the reverse, the "O" in 1OZ. is filled with frost. It is not a stain. It is frost and it is very obvious. Possible variety? Any other sightings out there?

At November 30, 2010 at 10:00 PM , Anonymous Anonymous said...

Frosted "O" or Filled "O"

At November 30, 2010 at 10:10 PM , Anonymous Anonymous said...

Would I be correct in assuming that the US Mint has made about $132,000,000.00 in profits off the silver bullion ASE coins? Any reports on profits yet from this record year of silver bullion ASE coin sales? With the Gold bullion included plus all the collectibles. I can't see where there should be problems producing a huge record profit increase for the year 2010. So where and who gets all this money we give them for their continued increase in prices. I'm willing to bet that their will be more increases when the US Mint web site is back up and running. I also suspect a big fat premium for this park cookie if it even happens. The other question is how will they sell all five parks at once or will they be drug into next year? Who can afford 5 five ounce park quarters during Christmas this year?

At December 1, 2010 at 5:47 AM , Anonymous VABEACHBUM said...

Based on data from a Mint P&L analysis that Michael had highlighted approximately one year ago, the Mint's estimated margin on ASE bullion coins is somewhere around 5-8 percent. Assuming the spot at $25 and 8% margin, that is $2.00 per coin.

Given the price over spot that some of the authorized resellers are charging, my estimated margin could be high. Still, 33M coins at $2 per is $66 M. When you consider a 33% margin on the ASE PR coins, $15 over 300K coins generates a $4.5 M profit.

As for the 5 oz ABT bullion, the Mint must sell to their authorized dealers by 31 DEC. Since some of those resellers have been advertising these coins for over 3 months, I'm sure every one of those 500,000 bullion coins are spoken for and will be snapped up quickly. At that point, the resellers can take as long as they want to sell those bullion coins for whatever price the market will tolerate. With the current spot price and initial interests, I'm setting the over/under at $185 per coin. Any thoughts for higher or lower??

At December 1, 2010 at 7:12 AM , Anonymous Anonymous said...

5 oz bullion coins will always mirror spot silver, not much more.
Difficult to store or display.
These are not proofs, so they will not have the "wow" factor.

At December 1, 2010 at 7:24 AM , Anonymous vaughnster said...

I disagree with the above post. Having a first ever 3" silver coin weighing 5 oz. will command a much higher price over spot. I would much rather spend the money on a truly unique coin than purchase a generic silver bar of the same weight. I'm sure in the coming weeks there will be companies coming out with some display albums/holders to display the 5 oz. coins. Just my opinion.

At December 1, 2010 at 7:59 AM , Anonymous VABEACHBUM said...

FRESH FROM THE US MINT'S PRESSROOM LINK!! Surprise!! Bullion and Numismatic versions of the ATB Silver. Numbers are FRIGHTENING. Costs could be STAGGERING!! WWE Cage Match anyone??

"The maximum first year mintage for the America the Beautiful Silver Bullion Coins is 165,000 units--33,000 units for each of the five coins issued in 2010 in honor of Hot Springs National Park (Arkansas), Yellowstone National Park (Wyoming), Yosemite National Park (California), Grand Canyon National Park (Arizona) and Mount Hood National Forest (Oregon). Maximum mintage levels for the 2011 and future bullion coins have not yet been determined.

A numismatic version of the three-inch, five-ounce silver coins, also minted in .999 silver, will be available for purchase directly from the United States Mint during the first quarter of 2011. The maximum mintage for these collector versions is set at 135,000 units-27,000 units for each of the five 2010 coins. The United States Mint will strike all 2010-dated numismatic coins by the end of the year, as required by law. Additional information about the release date and pricing for the America the Beautiful Five Ounce Uncirculated Coins will be available at a future date."

Best of luck to those who are interested.

At December 2, 2010 at 2:12 AM , Anonymous Anonymous said...

One can very easily see that prices on the secondary market for ASEs are primarily based on the value of the bullion.

Anyone who thinks that these coins will be valuable in the future because of their mintages will be in for a very big surprise.

I am a collector, not a flipper or investor. Long term, ASEs are not a good buy. But if you flip, then ka-ching! Dollar signs can be painted on your eyes.


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