American Silver Eagles Mike Fuljenz

By Michael FuljenzPresident, Universal Coin & Bullion ……
 

I have noticed that the most widely-advertised coin by dealers across the country is the one-ounce American Silver Eagle. It is one of the most beautiful and accessible (low-priced) new coins for new customers to become exposed to the beauty, potential, and history of rare coins.

As a result of exposure to this bullion coin’s classic design and exposure to coin dealers, many new customers start buying rare coins. Whenever we see sales increase dramatically for Silver Eagles, that is a good sign that more buyers are (or will soon be) entering the rare coin market.

In January and February of 2019, Silver Eagle sales rose a dramatic 47.8% over sales for the same two months in 2018. The January total of silver American Eagle coin sales was the highest of any single month in two years, and the February totals were 129% above the sales in February of 2018, even though the United States Mint sold out of their 2019 supply as of February 21 and sales have just recently resumed.

This reminds me of 2004 to 2008, when sales of the $1 American Silver Eagle by the Mint increased from 8,882,754 in 2004 to 20,583,000 in 2008 as the price of silver rose from an average $6.67 in 2004 to an average of $15 in 2008. In the same four years, 2004 to 2008, many Indian Head gold coins increased in value by over 100% and the overall PCGS Mint State Gold Coin Index increased over 50%.

That’s why it’s important to watch the price of silver and the sales of American Silver Eagles as a couple of the barometers for the overall rare coin market in the years ahead. And that’s why it’s important to see that silver is doing relatively well.
 

4 COMMENTS

  1. The one nice thing about Social Media, is that people like me can comment speaking of half truths, exaggerations, and even lie. First off, we would not even be reading the articles unless we ourselves were not collecting.
    I made a comment yesterday regarding the total mintage and why no eagles are truly rare. That was only because I collect them and want to continue to buy at low prices.
    My point is: Do not believe anything you read or hear on social media (i.e. YouTube, News, or Comments).
    Coin Collecting is Fun, and a lot of the fun is reading and learning about what interests you (obtaining knowledge and having your own educated opinions).
    I am an American Silver Collector and loving it.
    I am a Numismatist and have been for about a half century. I normally keep my opinions to myself, and most commenters do not know what they are talking about or they are simply trying to manipulate what you think for their own benefit. Learn and think for yourself, you may enjoy it.

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