2015 Silver Eagle Rationing Ends as Demand Slows

Beginning today, June 1, the United States Mint is selling 2015 American Silver Eagle bullion coins without any limits imposed on authorized purchasers.

The U.S. Mint had been rationing sales of the bullion silver coins since their release on January 12, 2015. Nearly 3 million sold on the first day.

The Mint’s rationing system was introduced in 2008. When bullion demand exceeds the supply of ready-to-ship inventory, the United States Mint institutes the policy to allocate available Silver Eagles to its distribution network. The Mint does have the production capability to strike coins to meet demand, but getting enough silver blanks from suppliers is not always possible. (Blanks are the metal discs used in making coins.) By limiting how many coins are sold each week, lengthy sales suspensions are minimized or eliminated.

Demand for bullion coins tends to retreat in the warmer months, but this year headwinds started early with May marking a second month of contraction. Silver Eagle sales at 2,023,500 for the month dropped 19% from April and fell 49% from May 2014.

Year-to-date, their sales are at 16,946,000. The silver coins debuted in 1986 and this year’s five-month total is already higher than the entire annual levels in 22 past years. However, the pace is down 21% from record-year 2014 when more than 21,436,500 sold in the first five months.

Here’s a table showing 2014-2015 dated coin sales by month:

American Silver Eagle Bullion Coin Sales (2014-2015)

 

 

United States Mint rationing of last year’s 2014 Silver Eagles ended around May as well, but returned later in the year.

The Mint does not sell bullion American Silver Eagles directly to the public. Instead, they are offered in bulk to "Authorized Purchasers" who buy them at melt value plus a premium of $2 per coin.