US Mint American Eagle Q3 silver coin sales at decade low
New York (Sept 30) Third-quarter sales of American Eagle silver coins fell to the lowest in ten years, US Mint data showed on Friday, as the spot price of white metal rebounded above a 15-month low.
Sales reached nearly 3.7-million ounces in the third quarter, the lowest quarterly sales since 2007.
On a monthly basis, they were at 320 000 oz in September, the lowest since December 2016 and down 81% from September 2016.
American Eagle gold coin sales reached 38 500 oz in the July-September period, up 45% from the second quarter but down 80% from a year ago, data showed.
For the month, gold coin sales reached 11 500 oz, down 88% from the same period one year prior.
Weak sales came as spot gold prices rose to the highest in more than a year at $1 357.54/oz.
The gold-silver ratio reached nearly 78 in July, meaning that it took roughly 78 ounces of silver to buy one ounce of gold. This was the highest in 15 months and the ratio remained elevated in September around 76.
The mint launched American Eagle palladium coins for the first time this month and its data showed September sales at 15 000 oz.
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