2011 Silver Eagles Post Third Best March Sales in Bullion Coin Series

April 6, 2011 by · Leave a Comment 

2011 American Silver Eagle Bullion Coin

The 2011 American Silver Eagle bullion coin managed to land the third spot among the highest March totals over the last 25 years, according to United States Mint sales figures. Last month, US Mint Authorized Purchasers bought 2,767,000 Silver Eagles, which lagged behind March 2009 at 3,132,000 and March 2010 with 3,381,000.

The .999 fine silver bullion coin has gotten off to a fast start, even though March’s final number retreated from this year’s January and February’s levels. Catching January’s all-time monthly record of 6,422,000 would have been a major feat, but March only followed the best-ever February by 473,000 coins.

Evidence shows, however, that the silver coins were being rationed. During times of high demand, it is not unusual for the Mint to issue an allocation process when their supply of silver coins is limited. For example, in January this year Authorized Purchasers were buying 2011 Silver Eagles nearly every day, but by March that sales trend changed. Daily sales updates became less frequent and weekly sales increases were capped at or very close to the 700,000 level after the week ending March 4.

Silver prices are soaring in the precious metals market, and the attention it is receiving has supported the demand for Silver Eagles. On the last day of March, the London Fix closed at 37.87. As a comparison, the price for the metal was $33.49 on February 28 and $27.75 on January 31.

As for the overall top Silver Eagles sales months, March 2011 ranks as number 15. February 2011 ranks 7th, and January 2011 holds the top spot. As the table below shows, most of the top 14 spots were reached in either 2009 or 2010. December 1986 was the only exception.

Top Fifteen Silver Eagle Bullion Coin Monthly Sales

1 January 2011 6,422,000
2 November 2010 4,260,000
3 December 1986 3,696,000
4 May 2010 3,636,500
5 January 2010 3,592,500
6 March 2010 3,381,000
7 February 2011 3,240,000
8 October 2010 3,150,000
9 March 2009 3,132,000
10 June 2010 3,001,000
11 July 2010 2,981,000
12 October 2009 2,939,000
13 July 2009 2,810,000
14 December 2009 2,773,500
15 March 2011 2,767,000


Currently, the US Mint facility in West Point produces all of the bullion Silver Eagles, but in an effort to meet demand, the Mint indicated they have begun test-strikes at its facility in San Francisco. If full scale production of the bullion coin takes place in the western facility, there would not be a visible difference between the West Point minted coins and the San Francisco ones, because modern US Mint silver bullion products do not have a mint mark. Mint marks are only provided on collector versions.

The US Mint also announced they will launch the proof version of the 2011 American Silver Eagle on June 30, 2011. The proof coins are collector versions of the investor-grade bullion coins. Proof coins are struck on specially polished blanks that produce a mirror-like background and frosted, sculpted foreground. Each coin is struck at least twice to ensure high definition of the image. Also, the proof version sports the "W" mint mark.

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