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US Mint Sales of Silver Coins Surge in January; Silver Falls
February 2, 2014 by Darrin Lee Unser · Leave a Comment
Silver logged another decline in January, marking the third straight month it has ended in negative territory. During the same time, silver coins from the United States Mint were hot with demand driving bullion 2014 American Silver Eagles to a top-five all-time monthly sales total.
US Mint sales of American Eagle silver coins topped 4.7 million in January
With the January trading month ending on the 31st, silver futures realized a modest monthly decline of 25 cents, or 1.3%, as the contract for March delivery closed at $19.12 an ounce.
The precious metal has not seen a monthly gain since October with that increase minimal at 0.7%. Even that small gain, however, was significant for the year as the month was just one of four in 2013 to realize any improvement. The year ultimately closed down 35.9% for silver’s biggest loss in over three decades.
In other New York precious metals futures:
- Gold for April delivery closed at $1,239.80 an ounce, showing a January increase of $37.50, or 3.1%.
- Platinum for April delivery ended at $1,375.70 an ounce, marking a marginal monthly increase of $1.90, or 0.1%.
- Palladium for March delivery finished at $703.00 an ounce, falling in January by $15.10, or 2.1%.
London Fix Silver Prices
Silver fared no better over the ocean. The London silver Fix came in at $19.31 an ounce, ending the month down 19 cents, or 1%. The precious performed stronger earlier in the month with a high coming on the 20th at $20.29 an ounce.
Other London precious metal fixings included:
- Gold at $1,251 an ounce gained $49.50, or 4.1%, in January.
- Platinum at $1,382 an ounce rose $24, or 1.8%, for the month.
- Palladium at $707 an ounce fell $4, or 0.6%, in January.
United States Mint Sales of Bullion Silver Coins
Despite limited availability, US Mint sales of bullion 2014 American Silver Eagles surged in January. The silver coins launched on January 13 after a one-month hiatus as 2013 American Silver Eagles sold out on December 13.
In the first day of availability, this year’s Silver Eagle attained sales of 3,180,500. Demand would ratchet the total sold to 4,775,000 by the end of January, securing it in the number four spot for best ever monthly sales — an impressive feat given that Silver Eagles were rationed, not released until almost mid-month and when considering that the series dates back to 1986.
Top 5 Monthly Sales of American Silver Eagles
| Rank | Month | Sales |
| 1 | January 2013 | 7,498,000 |
| 2 | January 2011 | 6,422,000 |
| 3 | January 2012 | 6,107,000 |
| 4 | January 2014 | 4,775,000 |
| 5 | September 2011 | 4,460,500 |
Sales of America the Beautiful Five Ounce Silver Bullion Coins
The United States Mint has yet to release any of the 2014 America the Beautiful Silver Bullion Coins. In addition, all previous issues sold out prior to January, meaning there were no sales to record for the series during the month.
This year’s program of five ounce coins is scheduled to include:
- 2014 Great Smoky Mountains National Park 5 Ounce Silver Coins
- 2014 Shenandoah National Park 5 Ounce Silver Coins
- 2014 Arches National Park 5 Ounce Silver Coins
- 2014 Great Sand Dunes National Park 5 Ounce Silver Coins
- 2014 Everglades National Park 5 Ounce Silver Coins
Release dates for these coins will be published on SilverCoinsToday.com when they are available.
Melt Values of US Silver Coins
Along with the monthly decline in the silver market, associated silver coin melt values also fell in January.
The chart below offers the melt values of silver coins issued in the past that are routinely sought after not only for their numismatic value but also for their intrinsic melt value. Values are calculated based on the amount of silver each coin has and by the price of the London silver Fix as of the dates noted in the columns.
| US Silver Coins | Silver Coin Melt Values (12/31/2013) | Silver Coin Melt Values (1/31/2014) | Net Change in January |
|---|---|---|---|
| 1942-1945 Jefferson Nickels | $1.10 | $1.09 | -$0.01 |
| 1892-1916 Barber Dimes | $1.41 | $1.40 | -$0.01 |
| 1916-1945 Mercury Dimes | $1.41 | $1.40 | -$0.01 |
| 1946-1964 Roosevelt Dimes | $1.41 | $1.40 | -$0.01 |
| 1892-1916 Barber Quarters | $3.53 | $3.49 | -$0.04 |
| 1916-1930 Standing Liberty 25c | $3.53 | $3.49 | -$0.04 |
| 1932-1964 Washington Quarters | $3.53 | $3.49 | -$0.04 |
| 1892-1915 Barber Half Dollars | $7.05 | $6.98 | -$0.07 |
| 1916-1947 Walking Liberty 50c | $7.05 | $6.98 | -$0.07 |
| 1948-1963 Franklin 50c | $7.05 | $6.98 | -$0.07 |
| 1964 Kennedy Half Dollars | $7.05 | $6.98 | -$0.07 |
| 1965-1970 Kennedy Half Dollars | $2.88 | $2.86 | -$0.02 |
| 1878-1921 Morgan Dollars | $15.08 | $14.94 | -$0.14 |
| 1921-1935 Peace Dollars | $15.08 | $14.94 | -$0.14 |
| 1971-1976 Silver Eisenhower $1s | $6.16 | $6.10 | -$0.06 |
| 1986-2013 American Eagles | $19.50 | $19.31 | -$0.19 |
| 2010-2013 ATB Silver Coins | $97.50 | $96.55 | -$0.95 |
Silver coin melt values are based on the London silver fix prices for the dates specified.
