U.S. Mint November 2016 American Silver Eagle Sales Report.

U.S. Mint Sells 3,061,000 American Silver Eagle coins in November.

Sales of American Silver Eagles in November down 20% from 3,825,000 sold in October 2016 and down 37% from 4,824,000 sold in November 2015.

American Silver Eagles sales in November were the fifth highest November total in the coin’s thirty year history.

Year to Date American Silver Eagle Coin Sales at 37,461,500 in 2016.

Silver to Gold sales Ratio Was 23.7:1 in November

Through November 2016, sales of American Silver Eagles are 16.1% lower than 2015’s record sales pace of 44,666,500 through November 2015.

November American Silver Eagle sales were over three million for the second month in a row.

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U.S. Mint American Silver Eagle November Sales

The U.S. Mint sold 3,061,000 one ounce American Silver Eagle coins (ASE’s) in November 2016. It was the fifth best November sales total ever.

November sales of American Silver Eagles were down 20% from 3,825,000 sold in October but up 83% from the 1,675,000 sold in September.

The U.S. Mint rationed ASE sales all year to its Authorized Purchasers at approximately one million a week. Sales had remained at an elevated level after surging in June 2015. In July, the U.S. Mint lifted rationed sales, but Authorized Purchasers appearing to be well stocked from purchases earlier in the year, did not step up their buying in July.

July 2016 sales of 1,370,000 ASE’s and August sales of 1,280,000 (combined 2,650,000) were more typical of pre-financial crisis monthly sales and were down 75% from July (5,529,000) and August (4,935,000) 2015 sales of 10,464,000.

In August, sales of ASE’s came to a crashing halt. August was the lowest single month sales total of ASE’s since December 2013 sales of 1.2 million and the lowest single full month of ASE sales since July 2008 when 1,251,500 ASE were sold. (The U.S. Mint normally stops sales of ASE’s in the first week or two of December each year.)

This means, perhaps, ASE retail sales were not ‘skyrocketing’ earlier in the year, but rather sales to the U.S.Mint’s Authorized Purchasers were elevated. Authorized Purchasers appear to still be working off their previously purchased inventory and did not buy nearly as many silver eagles in July, August and September as they purchased earlier in the year.

Higher October and November sales may reflect a draw down of U.S. Mint inventory and a replenishment of inventory by Authorized Purchasers.

November Sales of American Silver Eagles

November sales of American Silver Eagles of 3,061,000 were the fifth highest monthly sales total in November in the coin’s thirty year history.

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2015’s American Silver Eagle Sales Record Will Stand in 2016.

After setting a sales recordfor the most American Silver Eagle coins sold in a quarter from January – March 2016, April and May sales accelerated from that record pace. June sales of ASE cooled slightly. The 2,837,500 ASE’s sold in June were down 41% from the 4,940,000 ASEs sold in June 2015. Sales of ASE’s fell off the table in July and fell further in August. September sales rebounded from August’s year-low levels but were still way below sales of the first six months of the year. While October’s sales were more inline with the record sales in the first quarter of 2016, the depressed sales of July-September, will most likely prevent sales from surpassing 40 million.

In 2015, sales of American Silver Eagles set a record for the third year in a row. Total American Silver Eagle sales in 2015 were 47,000,000.

Through November 2015, the U.S. Mint had sold 44,666,500 American Silver Eagles. Through November 2016, the U.S Mint has sold 37,461,500 American Silver Eagles, 7,205,000 or 16.1% fewer.

Despite relatively weak July, August and September sales, 2016 American Eagle sales through November are headed for the fourth or fifth best year ever.

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American Silver Eagle Premiums

American Silver Eagle premiums have fallen as the price of silver has risen. The U.S. Mint charges $2 per coin to its Authorized Purchasers no matter the price of silver, so a lower silver price means the U.S. Mint fabrication charge and dealer mark ups result in a higher premium. All things equal, a higher price, lowers the premium percentage.

Premiums on American Silver Eagles have come down and levelled off since their dramatic rise during the Great Silver Shortage of 2015.

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The Silver To Gold Sales Ratio

Sales of silver have been proportionally far higher than sales of gold coins at the U.S. Mint in recent years. That trend continued in 2016 and was becoming less pronounced. With the drop off in silver sales in July and August and the firming gold sales the silver to gold sales ratio has fallen. The silver to gold sales ratio in 2014 was over 100:1 in 2014 and in 2015 it was 75:1. American Silver Eagle sales were on record pace in 2016 but fell sharply in July and August, while American Gold Eagle sales increased, resulting in a lower silver to gold sales ratio.

Sales of American Silver Eagles in the past five months are 52% lower than in the first five months of 2016. Conversely, sales of American Gold Eagles are up 13% during the past five months as compared to sales during the first five months of 2016.

Silver To Gold Sales Ratio 2008 -2016

In November the U.S. Mint sold 3,061,000 American Silver Eagles and 129,000 one ounce American Gold Eagles for a silver to gold sales ratio of 23.7 to 1

In October the U.S. Mint sold 3,825,000 American Silver Eagles and 100,500 one ounce American Gold Eagles for a silver to gold sales ratio of 38 to 1

In September the U.S. Mint sold 1,675,000 American Silver Eagles and 79,000 one ounce American Gold Eagles for a silver to gold sales ratio of 21.2 to 1

In August the U.S. Mint sold 1,280,000 American Silver Eagles and 50,000 one ounce American Gold Eagles for a silver to gold sales ratio of 25.6 to 1

In July the U.S. Mint sold 1,370,000 American Silver Eagles and 30,000 one ounce American Gold Eagles for a silver to gold sales ratio of 45.66 to 1

In June, the U.S. Mint sold 2,837,500 American Silver Eagles and 62,500 one ounce American Gold Eagles for a silver to gold sales ratio of 45.4 to 1

In May, the U.S. Mint sold 4,498,500 American Silver Eagles and 64,500 one ounce American Gold Eagles for a silver to gold sales ratio of 69.74 to 1.

In April, the U.S. Mint sold 4,072,000 American Silver Eagles and 93,000 one ounce American Gold Eagles for a silver to gold sales ratio of 43.78 to 1.

Click to See October American Eagle Gold Sales

Through June 2016

Sales of one ounce American Silver Eagles to sales of one ounce American Gold Eagles – (26,250,500 ounces vs. 406,000 ounces) – 64.66:1

Sales of one ounce American Silver Eagles to sales of all American Gold Eagles and American Gold Buffalo coins (26,250,500 ounces vs. 613,500 ounces) – 42.79:1

Gold Silver Ratio

Gold was the best performing asset of the first quarter of 2016, rising over 15%. Silver was the second best performer rising over 10%. In April, silver tacked on further gains, surpassing gold as 2016’s best performing asset. As a result the gold silver ratio has fallen from an all time high of over 80 to 1 to closer to 70:1. In June the price of silver rose as did gold but the rise in silver was greater resulting in the gold silver ratio falling towards 70 to 1. In July the gold silver ratio fell into the 60’s. In August both metals experienced declines, but silver’s was larger resulting in the gold silver ratio rising to over 70:1. From September through November the prices of both metals has eroded and the gold silver ratio remains above 70:1.

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