U.S. Mint Silver & Gold Eagle Sales Explode In August
With the recent update from the U.S. Mint, Silver and Gold Eagle sales surged in August. While Gold Eagle sales continue even higher during August, the real explosion took place in the Silver Eagle figures. After the U.S. Mint adapted its fabrication processes to incorporate protections for employees due to the virus, production and sales of Silver and Gold Eagles took off again in August.
And, when I say that Silver Eagle sales EXPLODED in August, I wasn’t exaggerating. In June, the U.S. Mint sold a bit more than one million Silver Eagles, but this more than quadrupled in August. Total Silver Eagle sales in August were 4,477,000, higher than the total sales from August to December 2019 at 3,591,500.
In just one month, the U.S. Mint sold more Silver Eagles than during the last five months of 2019. That is an impressive figure. We finally see monthly sales figures similar to the monthly sales figures that took place during 2015 when the U.S. Mint sold 47 million Silver Eagles.
Already, Silver Eagle sales for January to September (first ten days) 2020 are higher at 19.1 million versus 14.8 million for full-year 2019.
If Silver Eagle sales continue to be healthy for the rest of the year, and the U.S. Mint can keep up with demand, we could easily see a total of 25-28 million sold for the entire year. Furthermore, it seems as of premiums on Silver Eagles are finally coming down to a more reasonable level for investors. Interestingly, investors are willing to pay these high premiums for Silver Eagles to acquire these U.S. Government official silver coins.
Now, if we look at the Gold Eagle sales for August, there were also quite impressive at 121,000 oz. The U.S. Mint sold 121,000 oz of Gold Eagles in August compared to 152,000 oz for full-year 2019.
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