2015 has been a big year for the US Mint, and in particular the Silver Eagle coin, because in 2015 the sales figures for this year far surpassed the annual figures generated since 1986, when this coin was first minted.
In fact, the demand was so high that in November, the US Mint had to restrict supply of these coins, limiting sales to “just” 900,000 a week, and in July of 2015, they actually sold out, before restocking in the same month. This means that the total sales of 2015 Silver Eagles, which are said to be around 47 million, could have been much higher. This is big news not just for the US Mint, but for silver investors in general. It shows that the demand for this metal is increasing, even if the markets have yet to really reflect that. When you factor in the reports that silver is being used more and more in major industries, and that it will be become scare because of this, then it looks like now could be the perfect time to sink your money into silver.
The previous record for Silver Eagle sales was a fraction over 44 million, which was set in 2014. The record has actually been broken every year since 2007, which means that the last decade has been one of increasing momentum for the US Mint and their flagship silver bullion coin. And whilst the increase from 2014 to 2015 was not hugely notable, when you consider that less than 20 million of them were sold in 2008, you begin to realize just how strong the market has become for this product.
The Silver Eagle
The US Mint first struck the Silver Eagle in 1986, and since then it has become the official silver bullion coin of the US Mint. It is only struck in 1 Troy Ounce sizes, with new coins released every year. There are three different versions of this coin available: the standard bullion version, a proof version and a special uncirculated version, the latter of which is aimed at coin collectors and carries a higher premium than the others.
The coin features Liberty in a walking pose on the obverse, as well as the sun, the words “In God we Trust”, and the year the coin was minted. This design was actually first created in 1916 and has been used on other coins since that date. On the reverse of the Silver Eagle are the words “United States of America”, which sit above an iconic deign of the bald eagle. It is a coin that embodies American patriotism and this, as well as the fact that the purity and weight of all coins is certified by one of the world’s biggest mint, goes someway to explaining just why it is so popular.
So how do the sales of the Silver Eagle compare to other silver bullion coins? Well, in 2015 sales of the Silver Maple Leaf, which are produced by the Royal Canadian Mint, will also reach their highest yet, passing the 30 million mark for the first time. When you look elsewhere, to bullion coins such as those produced by the Royal Mint and the Perth Mint, the sales figures just don’t come close. In fact, the largest bullion dealer in the United States reports that whilst the 2015 Silver Eagle has sold the most of any silver coin this year, the coin to sell the second-most were Silver Eagles from other years. This is followed in third by the Silver Maple Leaf, with another US Mint coin and then a Sunshine Mint round finishing off the top 5.
This not only a great year for the US Mint, but it seems that they have been having a great decade all round, and that success is likely to continue.