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U.S. Mint Weekly Coin Sales – Silver Eagle Slowdown?

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Nixon Presidential $1 coin products also debut

By Hubert Walker for CoinWeek ….
Saying that sales for the American Silver Eagle bullion program are experiencing a slowdown is a bit like saying this year’s Porsche takes a second longer to go from 0 to 60. But compared to March of last year, sales may be dipping slightly.

Silver Eagle sales for the first week of March 2016 totaled 1,022,500 ounces (coins). In 2015, sales for the entire month of March totaled 3,519,000 ounces of the 99.9% pure silver bullion coin. A rough extrapolation of this year’s month-to-date sales produces an estimated total March 2016 sales of around 3,420,000 ounces. If the trend continues through the remainder of the month, this estimate represents only a 2.84% drop – hardly an obstacle to another consecutive annual sales record.

An additional 2,000 American Buffalo gold bullion coins were sold last week, bringing the program’s total sales for 2016 up to 55,000 ounces (coins). Proof versions of the American Gold Buffalo go on sale from the U.S. Mint on March 31.

8,500 ounces of the 22-karat (.9167 fine) 1 oz gold American Eagle bullion coin have been sold so far this month. This brings the YTD total for the one-ounce coin to 165,000.

Zero half-ounce American Gold Eagles were sold the first week of March, leaving the tally at 14,500 ounces (29,000 coins).

nixon_pres_1Quarter-ounce gold Eagles continue to do well, with 2,000 coins sold last week and 50,000 coins sold year-to-date. This is equivalent to 12,500 ounces.

The tenth-ounce gold bullion American Eagle coin sold 10,000 coins. At first glance, this hints at a slump. January 2016 sales for the tenth-ounce coin totaled 145,000 (14,500 ounces), and February sales for the same issue totaled 100,000 coins (10,000 ounces). With about one-third of the month behind us, a figure like 10,000 coins seems low.

Total sales for the 2016 American Gold Eagle program so far this month are 20,500 coins representing 10,000 ounces of gold. Total sales for the year are 499,000 coins and 217,500 ounces.

American Gold Eagle Proof versions go on sale March 17 (including the four-coin set).

A variety of Richard M. Nixon Presidential $1 coin product options also went on sale last week. 854 Denver Mint 100-coin bags were sold, as were 859 Philadelphia Mint bags. Looking at 250-coin boxes, Denver sold 3,174 while Philadelphia sold 3,437. And 34,381 P-Mint coin rolls were sold, as opposed to 29,988 D-Mint coin rolls.

The Nixon Presidential Dollar coin cover sold 10,945 units, and the Presidential $1 coin and First Spouse medal set (featuring a 1-5/16” bronze medal version of the 2016 Patricia Nixon half-ounce First Spouse gold coin) sold 2,095 units.

Hubert Walker
Hubert Walker
Hubert Walker has served as the Assistant Editor of CoinWeek.com since 2015. Along with co-author Charles Morgan, he has written for CoinWeek since 2012, as well as the monthly column "Market Whimsy" for The Numismatist and the book 100 Greatest Modern World Coins (2020) for Whitman Publishing.

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