• seperator

Bad year for silver Eagles

Will 2017 turn out to be the worst year for silver American Eagle sales since 2008?

It’s a distinct possibility.

Already the financial news media has reported that sales in the third quarter of 2017 are the worst since 2007.

In the third quarter, the United States Mint sold 3,665,000 silver Eagles.

In the first three quarters, the Mint has sold 15,898,500 silver Eagles.

The number for the full year 2016 was 37,701,500.

Full year 2015 saw 47 million sold, a number that stands as the record for annual output.

The Mint would have to sell over 10 million coins a month for the rest of 2017 to equal the 2015 annual record. This is not likely.

It would have to sell nearly 5 million silver Eagles a month to equal the 2009 annual total of 30,459,000.

That, too, probably won’t happen.

If the last three months of 2017 run at the average monthly sales pace set in the first three quarters of the year, 2017 would register sales of 21,198,000.

This would just beat the 2008 sales total of 20,583,000 one-ounce coins.

It would generate the headline of worst silver Eagle sales year since 2008.

Sales in 2007 were just 9,028,036. The bad third quarter of 2017 cannot take the whole year down to 2007 levels.

Gold sales are remarkably weak as well. In the first nine months of the year, 171,000 one-ounce gold American Eagles were sold.

In all of 2016, 817,500 were sold.

The current number is just 21 percent of the 2016 number.

For 2017 one-ounce gold Eagle sales to rise to equal 2016, buyers would have to take another 646,500 coins, or 215,500 a month, for the rest of 2017.

Not likely.


This article was originally printed in Numismatic News Express. >> Subscribe today


 Numismatic News
If you like what you’ve read here, we invite you to visit our online bookstore to learn more about Numismatic News.
Learn more >>>

Tags: , , , , . Bookmark the permalink.

2 Responses to Bad year for silver Eagles

  1. Sundance79 says:

    With a strong stock market and strong dollar, stockpiling silver just doesn’t seem like a good investment right now. But it’s funny, if silver prices start to go up, so will sales.

  2. JoeyT46 says:

    I think the US Mint has just about committed overkill. For years now they have flooded the market with Silver Eagles. With high mintages to begin with it’s all these “specialty sets” that are giving the collectors the heebie jeepies. Who can afford all these sets? Now they seem to be pushing the new trend in Palladium. Mr Mezack had these for sale the other day at over blown prices. Not to much is known about the collectability of Palladium so I would advise “Caveat Emptor”.

Leave a Reply