Bullion Coin Orders Rise At The U.S. Mint With Silver Market Activity

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

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

Authorized buyers of the Mint have placed orders for as many American Eagles in silver as they had been allocated to meet growing market demand.

Beginning of February sales

On February 1 alone, Authorized Buyers placed orders for 1,571,000 American Eagles in silver. In total, for the entire month of February 2020, sales reached 650,000 American Eagles in silver.

Sale of gold coins

The silver crash also benefited American Eagle gold coin sales, which totaled 344,000 ounces 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 1-ounce coins; 22,000 half-ounce $ 25 coins; 36,000 quarter-ounce $ 10 coins; and 95,000 tenth ounce $ 5 coins.

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

Another 65,000 ounces of US gold coins were sold in January 2021 in the form of $ 50 American Buffalo 1 ounce coins, and another 6,500 of those coins were sold on February 1.

In contrast, January 2020 sales of American Buffalo gold coins were reported at 21,000, while 1,000 coins were sold throughout February 2020.

The United States Mint regularly sells bullion coins in silver and gold under several programs, including the American Eagle silver and gold coin programs; the American Buffalo Gold Coin Series; and the America the Beautiful 5-ounce silver coin program, which comes 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 several 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 in the wholesale and retail markets.

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