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Silver Eagle Demand Exhausts U.S. Mint Supply

American Silver Eagles Sold Out - 2019

By Everett MillmanGainesville Coins ……
Since this past December’s swoon for stock markets around the globe, investor interest in precious metals has seen a resurgence.

You would expect a rebound in sales after the United States Mint experienced sharply declining mintage totals for U.S. bullion coins in 2018, namely the American Silver Eagle. However, the surge in Silver Eagle sales thus far in 2019 has exceeded even the most bullish expectations.

U.S. Mint SELLS OUT of 2019 Silver Eagles

The beginning of the year typically sees strong demand for government-issued bullion coins. Many collectors and investors like to get the new year-date of these annually issued coins as early as possible.

The U.S. Mint has sold more than six million American Silver Eagles year-to-date. By comparison, total ASE sales didn’t reach the six-million mark until the end of April last year–and that was after robust sales above three million during January.

What’s more, the Mint received over 750,000 orders for Silver Eagles in a single day earlier this month before announcing that its supply of the coins was temporarily depleted.

Orders “Under Allocation”

The Silver Eagle shortage has coincided with a jump in demand for American Gold Eagles, the Mint’s flagship gold bullion coin, as well.

Gold Eagle sales have nearly quadrupled year-on-year in February. This followed monthly sales in January that were three times higher (+200%) than the year previous.

Even amid last year’s mostly disappointing mintage totals, this same scenario involving a temporary shortage in ASE distribution occurred last September, as well. Over the past decade, it hasn’t been uncommon for immediate demand for silver coins (by the mint’s wholesalers) to outstrip the current supply at some point during the year.

According to a statement from a U.S. Mint spokesperson, 2019 American Silver Eagles will only be “offered under allocation” when production resumes. This terminology means the newly-minted Silver Eagles will, at least initially, only be sold in limited amounts to the Mint’s Authorized Purchasers.

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The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.

Gainesville Coins sells a wide range of precious metals bullion and certified coins. The company is 5-star rated by the National Inflation Association (NIA), the highest rated Gold and Silver Seller by the NIA. Gainesville Coins also buys precious metals investments.

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