Silver Eagles comeback slow
Did coin buyers run out of money at the beginning of August? This is perhaps a silly question, but a failure of the new 2015 High Relief gold $100 to…
Did coin buyers run out of money at the beginning of August?
This is perhaps a silly question, but a failure of the new 2015 High Relief gold $100 to sell out its 50,000-coin supply despite a strong start was combined with a deceleration in demand for the popular silver American Eagle bullion coin.
The drop in purchases coincided with the change in month.
Buyers had been panting after silver Eagles ever since the Mint ran out of them July 6.
When a new supply of 3 million was offered starting July 27, strong buying by the Mint’s Authorized Purchasers moved all but 180,000 out the door by the close of business July 30.
The remainders were rolled over and offered with another 1 million newly struck Eagles in the new week and month starting Aug. 3.
Despite being hardly a third of the supply of the prior week, coins remained available all week long.
Sales for the first week of August reached 1,057,000 by Aug. 6, leaving 123,000 to roll over into the following week.
Even at this reduced pace, sales of the 2015 silver Eagles look set to pass the 30 million mark before August concludes.
See the latest Mint Statistics for more numbers.
This article was originally printed in Numismatic News Express.
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