Bullion Coin Orders Rise at the U.S. Mint Amid Silver Market Activity

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The United States Mint has apparently taken advantage of the frenzy of retail traders buying heavily shorted stocks like GameStop and AMC Entertainment in recent weeks.

The fallout on silver buying, particularly American Eagle silver bullion coins, pushed the Mint’s January total coin sales to 4,775,000 coins, up 929,000 coins, or 24, 1% more than January 2020 sales.

Authorized Mint Buyers placed orders for as many silver American Eagles as they were allocated, to meet increased market demand.

Beginning of the February sales

On February 1 alone, authorized buyers placed orders for 1,571,000 silver American Eagles. In total, for the whole month of February 2020, sales reached 650,000 silver American Eagles.

Gold Coin Sales

The silver crash also benefited sales of American Eagle gold bullion coins, which reached 344,000 ounces in total in January 2021, with an additional 16,000 ounces added on February 1.

January 2021 American Eagle gold coin sales include 191,000 of the $50 1oz coins; 22,000 $25 half-ounce coins; 36,000 quarter-ounce $10 coins; and 95,000 tenth-ounce five-dollar coins.

February 1 American Eagle gold coin sales were all in one ounce coins.

An additional 65,000 ounces of U.S. gold coins were sold in January 2021 in the form of 1-ounce $50 American Buffalo coins, and another 6,500 such coins were sold on February 1.

In contrast, sales of American Buffalo gold coins in January 2020 were reported at 21,000, while 1,000 of the coins were sold for the entire month of February 2020.

The United States Mint regularly sells silver and gold bullion coins through several programs, including the American Eagle silver and gold coin programs; the American Buffalo series of gold coins; and the America the Beautiful 5-ounce silver coin program, which is coming to an end with the release of the final coin in the 56-coin series.

It has also offered American Eagle platinum bullion coins for a number of years, and American Eagle palladium bullion coins were sold by the Mint in 2017.

All US bullion coins are sold by the Mint to its authorized buyers, who in turn distribute the coins to wholesale and retail markets.

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