2011 Silver Eagle Bullion Coin Annual Sales Record Ends at 39.8M+

Last year finished with several record breaking months and the highest annual sales record for the Silver Eagle bullion coin. According to the United States Mint, year-end sales reached 39,868,500.

Seven months in the year broke the highest records for those months, including January, February, May, June, August, September and October. In doing so, each one also landed in the top 15 selling months since the series began in 1986, as illustrated in the table below.

 

Top 15 Sales Months for the Silver Eagle Bullion Coin

Rank	Month & Year	Total
1	January 2011	6,422,000
2	September 2011	4,460,500
3	November 2010	4,260,000
4	December 1986	3,696,000
5	August 2011	3,679,500
6	May 2011	3,653,500
7	May 2010	3,636,500
8	January 2010	3,592,500
9	June 2011	3,402,000
10	March 2010	3,381,000
11	February 2011	3,240,000
12	October 2010	3,150,000
13	March 2009	3,132,000
14	October 2011	3,064,000
15	June 2010	3,001,000

 

In annual numbers, demand for the .999 fine silver coins has been escalating since 2008. The table below shows annual sales for the past five years. A new annual sales record was broken by the end of each consecutive year starting in 2008.

Annual Sales: 2008-2011 Silver Eagle Bullion Coin

Rank	Year	Total
	2007	9,887,000
4	2008	19,583,500
3	2009	28,766,500
2	2010	34,662,500
1	2011	39,868,500

 

Since their debut in October 1986 and up to December, the United States Mint has sold 281,145,500 of the bullion American Silver Eagles.

For a good part of last year, it appeared 40 million Eagles could be sold. Especially after October, this is when 2011 beat the previous record sales set in 2010 of 34,662,500. However, the pace changed and orders slowed significantly in November.

December started out hot and heavy, attaining 906,000 orders in the first week and 653,000 more in the second week. In the third week, 450,000 more were added, and then Authorized Purchasers shut down as they placed no orders in the final week of the year. December’s total ended with 2,009,000 and year-to-date sales fell 131,500 orders short of 40 million milestone. December became the second slowest selling month for the year, although beating out November by 45.2%, and sales were 13.4% higher than the same time last year.

Below is the monthly breakout for the year with the rank from highest (1) to lowest.

Annual Sales by Month: Silver Eagle Bullion Coin

Rank	Month	Total
1	January	6,422,000
6	February	3,240,000
10	March	2,767,000
9	April	2,819,000
4	May	3,653,500
5	June	3,402,000
8	July	2,968,000
3	August	3,679,500
2	September	4,460,500
7	October	3,064,000
12	November	1,384,000
11	December	2,009,000
	YTD Sales Total	39,868,500

 

Not every Silver Eagle bullion coin sold last year was 2011-dated. The United States Mint sold its leftover inventory from the prior year with orders during the new year. In January, those orders contained 469,500 of the 2010-dated Eagles. At a ratio of 4:1 when ordering 2012-dated coins, the process is repeating this year until the old supply is depleted. Once the United States Mint announces the number of last year’s coins sold in 2012, the total mintage of 2011-dated Silver Eagles can be calculated.

Bullion American Silver Eagles had some competition in the market. For starters, the United States Mint released two collector versions with the same designs but with different finishes. The 2011-W Silver Eagle proof launched on June 30 and the 2011-W Silver Eagle uncirculated launched on September 15. Collectors scooped up 850,000 of the proof individually before they sold out. The uncirculated Eagle is still available from the Mint with the latest sales as of January 3 at 230,343. Additionally, last year the United States Mint released the special 25th Anniversary Silver Five-Coin Set which sold out at 100,000. The 25 anniversary set included the three annual issues as well as a unique 2011-P Silver Eagle reverse proof coin and 2011-S Silver Eagle uncirculated coin.

There was also competition in the form of another silver bullion product with America the Beautiful 5 Ounce Silver Bullion Coins. These started out quick, much like the Eagles. The first two of five designs sold out with 126,700 orders each, but the later three designs moved slower. By the end of the year, 398,700 of the five ounce coins had been picked up.

In gold bullion, American Gold Eagle sales ended the year with 1 million ounces. The Gold Eagles were available in four fractional sizes: the one ounce, half ounce, quarter ounce, and tenth ounce. Finally, bullion American Gold Buffalo year-to-date sales came in at 174,500.