2013 American Eagle silver sales set record

CaptHenway · January 1, 2014 5:43AM

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.

nibanny · January 1, 2014 7:11AM

<< 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

bestmr · January 1, 2014 7:19AM

And gold is HOW rare?

derryb · January 1, 2014 7:32AM

<< And gold is HOW rare?

>>

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.

bestmr · January 1, 2014 7:40AM

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.

Amigo · January 1, 2014 11:02AM

Considering that 'Greater Fools' get in a bull run late, My prognosis is further decline in Silver Spot for the forseeable future.

ricko · January 2, 2014 12:48AM

Silver Eagles and Gold Eagles... two of my favorite coins....glad I have so many to enjoy...

Cheers, RickO

RedneckHB · January 2, 2014 1:21AM

Kinda puts a knot in the record demand means record price theory.

piecesofme · January 2, 2014 1:25AM

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.

Wingsrule · January 2, 2014 10:09AM

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.

RedneckHB · January 2, 2014 11:53AM

<< 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).

BAJJERFAN · January 2, 2014 12:35PM

<< 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.

MGLICKER · January 2, 2014 1:03PM

A billion dollars worth of silver eagles is a pittance. Worth less than 1% of Facebook.

piecesofme · January 2, 2014 4:42PM

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.

MGLICKER · January 3, 2014 6:16AM

<< 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.

RedneckHB · January 3, 2014 11:27PM

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

OPA · January 3, 2014 11:47PM

<< 

<< 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.

BAJJERFAN · January 4, 2014 1:18AM

<< 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.

Overdate · January 4, 2014 2:00AM

<< 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.

OPA · January 4, 2014 2:40AM

<< 

<< 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.

Baley · January 4, 2014 2:46AM

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

Overdate · January 4, 2014 7:09AM

<< . . . 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.

OPA · January 4, 2014 8:58AM

<< 

<< . . . 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.

derryb · January 4, 2014 9:10AM

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%.

bronco2078 · January 4, 2014 9:24AM

<< 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 .

2013 American Eagle silver sales set record

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