US Silver Eagle Mint Sales Pass 25 Million for 2011

August 1, 2011 By 16 Comments

US Silver Eagle Mint sales continue at their phenomenal pace in 2011, passing the 25 Million ounce mark Friday.
The mint is only 32,000 Eagles shy of 3 Million ounces sold for the 3rd consecutive month, and the 5th month so far in 2011.
To put the 2011 US Silver Eagle sales in perspective, note that as of Friday’s COMEX Silver Inventory Report, only 26.7 Million deliverable ounces of silver remain on the CRIMEX.
This means that in the next 2 weeks, 2011 US Silver Eagle sales will surpass the remaining COMEX deliverable silver supplies.
Put another way, if the current sales pace continues, US retail investors will purchase the equivalent amount of silver that remains on the COMEX in roughly 7.5 months….approximately March 2012!

2011 Silver Sales Totals (in ounces / number of coins)
Month One
( oz. / #coins )
January 6,422,000
6,422,000
February 3,240,000
3,240,000
March 2,767,000
2,767,000
April 2,819,000
2,819,000
May 3,653,500
3,653,500
June 3,402,000
3,402,000
July 2,968,000
2,968,000
Total 25,271,500
25,271,500

Check out these similar articles:

  1. 2011 Silver Eagle Sales Nearing 23 Million
  2. Silver Eagle US Mint Sales Highest Ever Through May
  3. US Mint to Start Selling 2011 Silver Eagle Proofs Again June 30th- For $59.95/oz!
  4. Could the US Mint Be Causing the COMEX Silver Decline?
  5. Greeks Turn Savings to Gold and Perth Mint Silver Coin Sales Surge to Record on Haven Demand
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Comments

  1. Jim Violette says:
    August 1, 2011 at 9:38 AM

    I like how there US Mint logo resembles there 2009 UHR Double eagle.. Anyone have any of these babies?

  2. Ashutosh Singh says:
    August 1, 2011 at 9:44 AM

    And we still have 5 months remaining in 2011

  3. David Hill says:
    August 1, 2011 at 10:29 AM

    Please forgive what is probably a stupid question, But I'll ask it in any case:The 1oz Silver Eagle is the official Bullion coin of the Untied States and has a face value of $1., here in UK, one costs around £44, thats £20 more than a troy ounce of siver{spot at the moment} If I buy these 'face value' Silver Eagles, they do appreciate/depreciate with the spot price of silver, and would be sold for the price 'spotting' + on that particular day. Basically, my very stupid question is, I'm not spending £44 for something thats only worth $1 am I????

  4. Eric Christean says:
    August 1, 2011 at 10:44 AM

    Yes. Thats y its much wiser to buy silver in bricks than in US mint coins

  5. Jim Violette says:
    August 1, 2011 at 12:01 PM

    David Hill The $1 denomination is not important at all.. It only means that because the coin is legal tender and government backed that if for some IMPOSSIBLE reason silver or gold became worthless. The legal tender silver and gold coins will still be worth there face value. For the eagles it's $1..This is really the ONLY difference between Private mints and government backed mints.. I'll also add that government mints like the US Mint are numismatic coins and do hold Numismatic or collectors value. Which very few private mints can top.. Which is also why these coins have such a high premium..

  6. Nick Magliaccio says:
    August 1, 2011 at 12:02 PM

    lets ask ourselves – how does a commodity as difficult to produce as silver become worthless? Right now at these prices 10% of the cost of a solar panel is the silver they use.

  7. Pat Fields says:
    August 1, 2011 at 12:03 PM

    David, the word 'dollar' is meaningless in today's usage. In terms of US Constitutional silver coinage, it's 371.25 grains fine alloyed with copper to yield a 90% silver content. Obviously the silver 'collector's Eagle coins' called 'dollars', being an ounce troy are not therefore Constitutionally kosher. Neither are US Mint 'Presidential Series collector's coins', as they're fully base metal alloy. Now, back to the 'Silver Eagles' … the seignorage premium is outrageous and best to be avoided unless a deal surfaces on E-Bay on older dates near spot. There are plenty of one to five ounce assay bars and rounds floating with reasonable premiums that have about as much assurance of quality as 'Eagles'. Always trade your labor for the best deal in pure silver. Avoid national monikers when their 'Branding' is little more than an avaricious boondoggle. APMEX, and other private mint products will always command about as much liquidity and full value as that of governments.

  8. David Hill says:
    August 1, 2011 at 12:41 PM

    Thanks all, Its 'bars' then, as in drinks, to 'coin' a phrase :-)

  9. Pat Fields says:
    August 1, 2011 at 12:41 PM

    Drink up then m' Lad! May your tipplin' cast away your cares and worries!

  10. Nicolette Montano Hegrat says:
    August 1, 2011 at 12:42 PM

    I heard that if the government were to confiscate a silver dollar, they'd give you money for whatever the face value for that coin is. So if they're taking all your silver dollars, you'll get a buck for each.

  11. Pat Fields says:
    August 1, 2011 at 12:42 PM

    Nicolette, on the 'reverse', when a silver Eagle is paid as wages, it's taxation is only legally set at a 'dollar'!

  12. Nicolette Montano Hegrat says:
    August 1, 2011 at 12:43 PM

    What about the Morgan dollars? I think that's what this radio jockey was referring to.

  13. David Hill says:
    August 1, 2011 at 12:43 PM

    Will certainly have a few today, we are annihilating India at Trent Bridge, Nottingham, in 4 days of the 5 day test match. India are 9 down, we need 1 wicket to whip them. Oh, golly gosh, I am talking to baseball fans, who are probably dimmer on this, than my 'SILVER EAGLE ' question :-) ;-\\\\\\\\\\\\

  14. David Hill says:
    August 1, 2011 at 12:43 PM

    CRICKET, I fforgot to mention :-)

  15. David Hill says:
    August 1, 2011 at 12:59 PM

    Gold just topped £1000 in Uk, first time ever!!!!!

  16. Ashutosh Singh says:
    August 1, 2011 at 12:59 PM

    Love the £1000 price action, it was long awaited.

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