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US Bullion Silver Coins Dip in Sept, Silver Prices Soar in Quarter
September 30, 2013 by Silver Coins Today Staff · Leave a Comment
Silver futures traded sharply lower in September, though they scored their first quarterly gain in a year. Sales of United States Mint bullion silver coins also retreated for the month, but they remain on track to handily notch a new annual sales record.
Silver prices declined for the month but jumped for the quarter. Sales of US Mint silver bullion coins also dipped in September but they remain on a record pace.
In closing the trading month on Monday, silver futures for December delivery shed 12 cents, or 0.6%, to settle at $21.71 an ounce on the Comex in New York. With that, silver prices in September declined $1.81, or 7.7%, for their first loss in three months.
The precious metal in August soared $3.89, or 19.8%, climbed 16 cents, or 0.8%, in July, and gained $1.12, or 3.7%, in January. In between, silver prices registered monthly declines of:
- $2.77, or 12.5%, in June,
- $1.94, or 8%, in May,
- $4.14, or 14.6%, in April,
- 10.9 cents, or 0.4%, in March, and
- $2.92, or 9.3%, in February
In quarterly breakdowns, silver futures:
- Lost 6.3% in the first quarter (January – March),
- Declined 23.3% in the second quarter (April – June), and
- Advanced 11.5% in the third quarter (July – September)
The latest quarterly gain was the first since the one ended September 28, 2012.
As apparent, losses have outweighed gains this year with silver futures now down $8.52, or 28.2%, from the 2012 ending price of $30.23 an ounce.
In other precious metals futures on the last day of the month and in their percentage changes for September and the quarter:
- Gold at $1,327 an ounce fell 5% for the month and gained 8.4% for the quarter.
- Palladium at $727.15 an ounce gained 0.5% in September and 10.1% for the quarter.
- Platinum at $1,412.40 an ounce declined 7.5% for the month and added 5.4% for the quarter.
For the year-to-date, gold has plunged 20.8% and platinum has lost 8.4%, but palladium has advanced 3.4%.
London Fix Silver Prices
Also on Monday, the London silver fix increased 7 cents, or 0.3%, to $21.68 an ounce. The white metal dropped 8.3% for the month to trim its quarterly pick-up to 15%. Despite the jump, London silver prices for the year-to-date have fallen $8.27, or 27.6%.
Rounding out London precious metals fixings for the month and the third quarter:
- Gold at $1,326.50 an ounce fell 4.9% in September and gained 11.3% for the quarter.
- Palladium at $726.00 an ounce dipped 0.1% for the month and advanced 12.9% for the quarter.
- Platinum at $1,411 an ounce declined 6.8% in September and added 7.1% for the quarter.
For the year so far and like bullion futures in New York, only palladium is higher at 3.9%. Year-to-date losses for the other precious metals total 20.3% for gold and 7.4% for platinum.
United States Mint Bullion Silver Coins
Demand retreated for bullion American Silver Eagles with September sales of 3,013,000, the third highest September in history but also the lowest monthly total since December.
Then again, September has tended to be a slower month for US Mint bullion coins. Silver Eagles scored their best September in 2011 at 4,460,500 followed by 3,255,000 in 2012. Prior to that, 1.88 million was the highest September on the books and that goes back to the series start in 1986.
As for the year-to-date, Silver Eagle sales remain on a record pace with 36,088,000 ordered. The level already ranks this year as the second highest with still three months left.
Top 5 Annual Sales Years for American Silver Eagles
| Rank | Year | Annual Sales |
| 1 | 2011 | 39,868,500 |
| 2 | 2013 | 36,088,000* |
| 3 | 2010 | 34,662,500 |
| 4 | 2012 | 33,742,500 |
| 5 | 2009 | 28,766,500 |
*Sales are only for January through September 2013
Sales of America the Beautiful Five Ounce Silver Bullion Coins
2013 America the Beautiful 5 Ounce Silver Bullion Coins gained 22,900 in September versus prior month sales of 19,000. Broken out for the month:
- 2013 White Mountain 5 Ounce Silver Coins added 3,800 during the month for a total of 35,000.
- 2013 Perry’s Victory 5 Ounce Silver Coins added 1,400 in September for a total of 25,000.
- 2013 Great Basin 5 Ounce Silver Coins added 3,000 during the month for a total of 25,000.
- 2013 Fort McHenry 5 Ounce Silver Coins added 14,700 in September for a total of 25,000.
Across all this year’s designs that celebrate a national site, 110,000 have sold for a total of 550,000 ounces. The US Mint also delivered a number of 2012-dated coins earlier this year so the five ounce America the Beautiful series has a combined year-to-date tally of 173,100 coins, or 865,500 ounces.
In related news, an article published Friday on CoinNews.net has photos and videos showing how America the Beautiful 5 oz. coins are made.
Melt Values of US Silver Coins
Changing melt values of silver coins for September, the quarter and year so far are listed below. The grid offers melt values of US coins that circulated years ago and were produced in silver. These silver coins are often sought by collectors and investors for their intrinsic values. These values are calculated based on the amount of silver they contain (See melt calculator.)
| US Silver Coins | Silver Coin Melt Values (12/31/2012) | Silver Coin Melt Values (9/30/2013) | Net Change for September | Net Change for Quarter (Q3) | Net Change Year-To-Date |
|---|---|---|---|---|---|
| 1942-1945 Jefferson Silver Nickels | $1.68 | $1.22 | -$0.11 | $0.16 | -$0.47 |
| 1892-1916 Barber Silver Dimes | $2.17 | $1.57 | -$0.14 | $0.20 | -$0.60 |
| 1916-1945 Mercury Silver Dimes | $2.17 | $1.57 | -$0.14 | $0.20 | -$0.60 |
| 1946-1964 Roosevelt Silver Dimes | $2.17 | $1.57 | -$0.14 | $0.20 | -$0.60 |
| 1892-1916 Barber Silver Quarters | $5.42 | $3.92 | -$0.35 | $0.51 | -$1.50 |
| 1916-1930 Standing Silver Liberty 25c | $5.42 | $3.92 | -$0.35 | $0.51 | -$1.50 |
| 1932-1964 Washington Silver Quarters | $5.42 | $3.92 | -$0.35 | $0.51 | -$1.50 |
| 1892-1915 Barber Silver Halves | $10.83 | $7.84 | -$0.71 | $1.02 | -$2.99 |
| 1916-1947 Walking Liberty 50c | $10.83 | $7.84 | -$0.71 | $1.02 | -$2.99 |
| 1948-1963 Franklin 50c | $10.83 | $7.84 | -$0.71 | $1.02 | -$2.99 |
| 1964 Kennedy Half Dollars | $10.83 | $7.84 | -$0.71 | $1.02 | -$2.99 |
| 1965-1970 Kennedy Half Dollars | $4.43 | $3.21 | -$0.29 | $0.42 | -$1.22 |
| 1878-1921 Morgan Silver Dollars | $23.16 | $16.77 | -$1.52 | $2.18 | -$6.40 |
| 1921-1935 Peace Silver Dollars | $23.16 | $16.77 | -$1.52 | $2.18 | -$6.40 |
| 1971-1976 Silver Eisenhower $1s | $9.47 | $6.85 | -$0.62 | $0.89 | -$2.61 |
Melt values are based on the London silver fix prices at the end of 2012, June, August and September.
