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Silver Eagle Demand Exhausts U.S. Mint Supply

Everett Millman
By Everett Millman
Published February 23, 2019

Since this past December's swoon for stock markets around the globe, investor interest in precious metals has seen a resurgence.

silver-eagles


You would expect a rebound in sales after the mint experienced sharply declining mintage totals for U.S. bullion coins in 2018, namely the American Silver Eagle. However, the surge in Silver Eagle sales thus far in 2019 has exceeded even the most bullish expectations.

U.S. Mint SELLS OUT of 2019 Silver Eagles

The beginning of the year typically sees strong demand for government-issued bullion coins. Many collectors and investors like to get the new year-date of these annually issued coins as early as possible.

The U.S. Mint has sold more than six million American Silver Eagles year-to-date. By comparison, total ASE sales didn't reach the six-million mark until the end of April last year—and that was after robust sales above three million during January.

What's more, the mint received over 750,000 orders for Silver Eagles in a single day earlier this month before announcing that its supply of the coins was temporarily depleted.

Orders "Under Allocation"

The Silver Eagle shortage has coincided with a jump in demand for American Gold Eagles, the mint's flagship gold bullion coin, as well.

silver-eagle-reverse


Gold Eagle sales have nearly quadrupled year-on-year in February. This followed monthly sales in January that were three times higher (+200%) than the year previous.

Even amid last year's mostly disappointing mintage totals, this same scenario involving a temporary shortage in ASE distribution occurred last September, as well. Over the past decade, it hasn't been uncommon for immediate demand for silver coins (by the mint's wholesalers) to outstrip the current supply at some point during the year.

According to a statement from a U.S. Mint spokesperson, 2019 American Silver Eagles will only be "offered under allocation" when production resumes. This terminology means the newly-minted Silver Eagles will, at least initially, only be sold in limited amounts to the mint's Authorized Purchasers—i.e. its primary wholesale market-makers.



The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.

Everett Millman

Everett Millman

Analyst, Commodities and Finance | Managing Editor

Everett has been the head content writer and market analyst at Gainesville Coins since 2013. He has a background in History and is deeply interested in how gold and silver have historically fit into the financial system.

In addition to blogging, Everett's work has been featured in CoinWeek, Advisor Perspectives, Wealth Management, Activist Post, and has been referenced by the Washington Post.

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