US Mint Bullion Coins Strong to Screaming in July Sales

United States Mint bullion sales through the first half of 2013 were exceptional for gold coins and unprecedented for silver coins. Not a lot changed in July. Strong to screaming gains continued.  

Demand for American bullion coins tends to weaken in summer months, and particularly in July. To be sure, seasonal dampening was noticed among American Gold Eagles. But any hint of slackening for American Silver Eagles was tossed out the window early in the month.

2013 American Eagle Silver Bullion Coins

July sales of American Eagle silver coins exploded to 4,406,500, notching the best July ever, the second highest month in 2013 and the fifth best month in the 320 that have passed since the series start in October 1986.

In other monthly comparisons, the level marked a 34.5% increase over June’s 3,275,000 ounces and was 93.4% stronger than the same time last year when sales tallied to 2,278,000 ounces.

For the January through July period, American Silver Eagles stand at 29,450,000. The pace is the quickest ever, hands down, with 2013 poised for a new annual record. The 99.9% pure silver coins scored their current annual sales record of 39,868,500 in 2011. Then, it took until September 9, 2011 for sales to reach where they are now. Last year, 29.45 million was not hit until November 5, 2012.

This year’s sales sprint is all the more impressive as the numbers do not fully reflect the level of demand. The U.S. Mint’s inventory of Silver Eagles was exhausted in mid-January with sales suspended for more than a week as a result. They resumed by the end of the month but under a system of rationing that limited how many coins distributors could order. That system is still in place.