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2013 American Eagle silver sales set record

CaptHenwayCaptHenway Posts: 32,153 ✭✭✭✭✭
in Precious Metals
According to an item in this morning's Denver Post, the U.S. Mint sold 42.675 million silver eagles in 2013.

Gold eagle sales are reportedly 856,500 ounces, presumably in all four sizes.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

Comments

  • nibannynibanny Posts: 2,761 ✭


    << <i>Gold eagle sales are reportedly 856,500 ounces, presumably in all four sizes. >>



    Correct.
    Below the detail by size (oz / #coins)
    1 oz - 743,500 / 743,500
    1/2 oz - 29,000 / 58,000
    1/4 oz - 30,500 / 122,000
    1/10 oz - 53,500 / 535,000

    Info for all the years can be found on the US MINT WEBSITE
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • bestmrbestmr Posts: 1,778 ✭✭✭
    And gold is HOW rare? image
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>And gold is HOW rare? image >>



    Pretty rare

    while gold eagles are required to be minted from domestically mined gold, keep in mind that many other new gold products come from old gold products. We just keep chaning the shape and form of existing gold. And while supply of gold has not changed drastically, the important message of the OP is that demand has changed drastically.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • bestmrbestmr Posts: 1,778 ✭✭✭
    I know it's rare and how it's one of the last created elements. My comment was more tongue in cheek from how many were minted.
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • AmigoAmigo Posts: 966 ✭

    Considering that 'Greater Fools' get in a bull run late, My prognosis is further decline in Silver Spot for the forseeable future.
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Silver Eagles and Gold Eagles... two of my favorite coins....glad I have so many to enjoy...image Cheers, RickO
  • cohodkcohodk Posts: 19,137 ✭✭✭✭✭
    Kinda puts a knot in the record demand means record price theory.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    2013 American Eagle silver sales set record
    And people are still willing to pay $3-5 over Spot for something that is so abundant...yet hesitate on a known rarer bar, when both can be counterfeited?
    Yeah, that makes sense...but whoever said any of this crap makes sense LOL.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • WingsruleWingsrule Posts: 3,011 ✭✭✭✭
    And pretty much everyone of those ASE purchasers are under water right now...

    There are also a few more collectors of ASEs than bars, and the population is well documented, whereas the bar pops are pretty much estimates / guesses for the most part.
  • cohodkcohodk Posts: 19,137 ✭✭✭✭✭


    << <i>2013 American Eagle silver sales set record
    And people are still willing to pay $3-5 over Spot for something that is so abundant...yet hesitate on a known rarer bar, when both can be counterfeited?
    Yeah, that makes sense...but whoever said any of this crap makes sense LOL. >>



    Its all a racket POM. And people complain about the stock market. (Shaking head).
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>And pretty much everyone of those ASE purchasers are under water right now...

    There are also a few more collectors of ASEs than bars, and the population is well documented, whereas the bar pops are pretty much estimates / guesses for the most part. >>



    FWIW, when I price mine I don't compare it to spot as such. I value mine on how much someone would have to pay for a similar quantity from one of the large bullion houses [whose price vs spot tends to vary]. When it comes time to sell, that's who I'm competing with.
    theknowitalltroll;
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭
    A billion dollars worth of silver eagles is a pittance. Worth less than 1% of Facebook.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    You're talking/comparing about either owning every single 2013 ASE vs. 1 % of FB being a pittance. You let me know when you've accomplished either. I'll bake you a cake.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭


    << <i>You're talking/comparing about either owning every single 2013 ASE vs. 1 % of FB being a pittance. You let me know when you've accomplished either. I'll bake you a cake. >>



    Don't like cake but thank you for the offer.

    In the scope of the investing world, 42 million ounces of silver, worth a Billion bucks is small potatoes. It is obviously a fortune for an individual, but trivial from a global investment perspective.
  • cohodkcohodk Posts: 19,137 ✭✭✭✭✭
    Walmart sells a billion dollars worth of stuff every 17 hours.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>

    << <i>You're talking/comparing about either owning every single 2013 ASE vs. 1 % of FB being a pittance. You let me know when you've accomplished either. I'll bake you a cake. >>



    Don't like cake but thank you for the offer.

    In the scope of the investing world, 42 million ounces of silver, worth a Billion bucks is small potatoes. It is obviously a fortune for an individual, but trivial from a global investment perspective. >>



    with over 1 billion troy oz of silver produced world wide in 2013, 43 million silver eagles represents less than 5% of total production. It's estimated that total world wide sales of silver coin & medals, represent less than 10 of total production.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>Walmart sells a billion dollars worth of stuff every 17 hours. >>



    I'd love to have what they pay in credit/debit card fees for just those 17 hours.
    theknowitalltroll;
  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭


    << <i>with over 1 billion troy oz of silver produced world wide in 2013, 43 million silver eagles represents less than 5% of total production. It's estimated that total world wide sales of silver coin & medals, represent less than 10 of total production. >>


    Over time the rising number of silver coins and bars will create a huge overhang on the market, limiting the metal's price appreciation in any scenario short of runaway inflation.

    My Adolph A. Weinman signature :)

  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>

    << <i>with over 1 billion troy oz of silver produced world wide in 2013, 43 million silver eagles represents less than 5% of total production. It's estimated that total world wide sales of silver coin & medals, represent less than 10 of total production. >>


    Over time the rising number of silver coins and bars will create a huge overhang on the market, limiting the metal's price appreciation in any scenario short of runaway inflation. >>



    That's debatable, in as much, as a good percentage of bullion coins and bars are constantly recycled. Your above theory would only be applicable if most of the silver produced is being hoarded, which I do not believe is the case. Approximately 25% of total silver produced is obtain through recycling of existing products.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    a good percentage of bullion coins and bars are constantly recycled.

    Yup, got to send last years' out-of-style novelty bars and rounds to the refiner, to be melted down and made into this year's novelty bars and rounds, to get another novelty premium for the metal

    except, of course, the "rare bullion" haha, don't melt the rare bullion, just buy and sell that kind as it is, and add some premium in the form of advertising and hype

    I agree with Overdate about the overhang on the market, browse ebay, apmex, or any of the other big retailers, look at all the stupid ugly junk silver for sale

    Liberty: Parent of Science & Industry

  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭


    << <i>. . . a good percentage of bullion coins and bars are constantly recycled. >>


    Bars, yes . . . coins, not so much, at least when the market values them at premiums to melt, as is the case now. Junk U.S. silver coins have often sold at discounts to melt, and as a consequence they been subject to wide-scale melting in the past. But I don't recall any time that silver eagles have failed to command a premium, and I doubt that more than a very small percentage of them have been recycled.

    However, if the price of silver gets high enough, even silver eagles may lose their premium and become meltable. If this happens, the addition of these and other bullion coins to the "recyclable" supply will be sufficient to restrain silver price increases for years to come.

    My Adolph A. Weinman signature :)

  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>

    << <i>. . . a good percentage of bullion coins and bars are constantly recycled. >>


    Bars, yes . . . coins, not so much, at least when the market values them at premiums to melt, as is the case now. Junk U.S. silver coins have often sold at discounts to melt, and as a consequence they been subject to wide-scale melting in the past. But I don't recall any time that silver eagles have failed to command a premium, and I doubt that more than a very small percentage of them have been recycled.

    However, if the price of silver gets high enough, even silver eagles may lose their premium and become meltable. If this happens, the addition of these and other bullion coins to the "recyclable" supply will be sufficient to restrain silver price increases for years to come. >>



    What is the % of bullion ASE's that develop milk spots? Even if it's only 10%, that would be a substantial amount going to the melting pot. I'm sure some B&M owners may chime in and give us an idea.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,824 ✭✭✭✭✭
    IMO spots on a bullion ASE or no more detrimental than tarnish on a bar. It's still carries the weight and purity of the respected ASE. I see spots as being a negative only from a numismatic view. While I have many tubes of spotted maples, I have yet to personally see a spotted ASE that was not in a slab. I put silver maple spotting at a minimum 20% and guestimate ASE spotting well below 5%.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • bronco2078bronco2078 Posts: 10,226 ✭✭✭✭✭


    << <i>IMO spots on a bullion ASE or no more detrimental than tarnish on a bar. It's still carries the weight and purity of the respected ASE. I see spots as being a negative only from a numismatic view. While I have many tubes of spotted maples, I have yet to personally see a spotted ASE that was not in a slab. I put silver maple spotting at a minimum 20% and guestimate ASE spotting well below 5%. >>




    I have a few eagles with spots that are raw maybe 1% of what has passed through my hands had spots .

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