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US Mint Silver Coins Improve in August Sales, Silver Prices Tumble
August 31, 2014 by Silver Coins Today · 1 Comment
August sales of bullion 2014 American Silver Eagles gained traction, rising from weak numbers posted in the previous month, while silver prices declined for a second straight month.
US Mint sales of American Eagle silver coins topped 2 million in August.
New York silver for December delivery tumbled in August by 92 cents, or 4.5%, ending the month at $19.49 an ounce. That wiped out a big chunk of the gains tallied since the end of 2013. Prices are now up on the year by just 12 cents, or 0.6%.
Other precious metals were mixed in August:
- Gold for December delivery settled at $1,287.40 an ounce, posting a monthly gain of 0.4%
- Palladium for December delivery closed at $909.55 an ounce, logging an August increase of 4.1%.
- Platinum for October delivery finished at 1,424.70 an ounce, dropping 2.8% for the month
Year-to-date, all the metals are in positive territory with palladium leading, up 26.6%. Gold follows at 7.1% and platinum posted up 3.7%.
London Silver Prices
Similar results were seen from London precious metals. The new LBMA Silver Price ended August at $19.47 an ounce, down $1.22, or 5.9%, from where the London silver fixing ended in July. In the same comparison year to date, silver slipped 3 cents, or 0.2%.
In London precious metals fixings:
- Gold at $1,285.75 rose 50 cents in August
- Palladium at $898 an ounce climbed $18, or 2%, for the month
- Platinum at $1,424 an ounce, declined $48 an ounce, or 3.3%, in August.
Fixings year-to-date have gold up 7%, palladium up 26.3% and platinum up 4.9%.
United States Mint Sales of Bullion Silver Coins
Bullion 2014 American Silver Eagles improved on their July results, but only slightly. The United States Mint recorded August sales of 2,007,500 coins, up 32,500 from the the previous month.
2014 Monthly American Silver Eagle Sales
| January | 4,775,000 |
| February | 3,750,000 |
| March | 5,354,000 |
| April | 3,569,000 |
| May | 3,988,500 |
| June | 2,692,000 |
| July | 1,975,000 |
| August | 2,007,500 |
Through May, 2014 was on pace to become the best year ever for Silver Eagle sales. That is no longer the case as the last three months have seen significantly lower increases.
Still, sales for the year are at 28,111,000. At this level, 2014 is already the sixth highest year for the program which dates back to 1986. That position will only improve with the remaining four months of the year.
Sales of America the Beautiful Five Ounce Silver Bullion Coins
America the Beautiful Five Ounce Coins also posted improved sales in August, aided by the release of Great Sand Dunes silver coins. This coin, which features a reverse design honoring the national park in Colorado, debuted on Monday, August 25. As of the end of the month, 7,500 were recorded as sold.
August sales and total sales for the other 2014 America the Beautiful Silver Coins include:
- 2014 Great Smoky Mountains National Park 5 Ounce Silver Coins were flat, staying at 29,500
- 2014 Shenandoah National Park 5 Ounce Silver Coins up 500 to 20,500
- 2014 Arches National Park 5 Ounce Silver Coins up 1,200 to 21,200
Melt Values of US Silver Coins
As the silver market itself fluctuates, so does the associated melt value of silver coins. These coins are composed of varying amounts of silver with their approximate melt values shown below for the end of July and the end of August. A comparison of the two values is also offered. (SilverCoinsToday.com offers a melt calculator for more personal comparisons.)
| US Silver Coins | Silver Coin Melt Values (7/31/2014) | Silver Coin Melt Values (8/31/2014) | Net Change |
|---|---|---|---|
| 1942-1945 Jefferson Silver Nickels | $1.15 | $1.10 | ($0.05) |
| 1892-1916 Barber Silver Dimes | $1.48 | $1.41 | ($0.07) |
| 1916-1945 Mercury Silver Dimes | $1.48 | $1.41 | ($0.07) |
| 1946-1964 Roosevelt Silver Dimes | $1.48 | $1.41 | ($0.07) |
| 1892-1916 Barber Silver Quarters | $3.69 | $3.52 | ($0.17) |
| 1916-1930 Standing Silver Liberty 25c | $3.69 | $3.52 | ($0.17) |
| 1932-1964 Washington Silver Quarters | $3.69 | $3.52 | ($0.17) |
| 1892-1915 Barber Silver Halves | $7.38 | $7.05 | ($0.33) |
| 1916-1947 Walking Liberty 50c | $7.38 | $7.05 | ($0.33) |
| 1948-1963 Franklin 50c | $7.38 | $7.05 | ($0.33) |
| 1964 Kennedy Half Dollars | $7.38 | $7.05 | ($0.33) |
| 1965-1970 Kennedy Half Dollars | $3.02 | $2.88 | ($0.14) |
| 1878-1921 Morgan Silver Dollars | $15.79 | $15.07 | ($0.72) |
| 1921-1935 Peace Silver Dollars | $15.79 | $15.07 | ($0.72) |
| 1971-1976 Silver Eisenhower $1s | $6.45 | $6.16 | ($0.29) |
| 1986-2013 American Eagles | $20.41 | $19.49 | ($0.92) |
| 2010-2014 ATB Silver Coins | $102.05 | $97.45 | ($4.60) |
The melt values of these silver coins are based on the silver futures prices at the end of July and August 2014.
Keep buying physical silver. The more physical silver is off the market the worse it will be for the futures that have become a scam to manipulate the price.
Also there should be class action lawsuits from around the globe in case the new SILVER FIX in LONDON lacks transparency and oversight. It also is time to consider THE COMEX price illegitimate due to its oversubscribed futures manipulation activity.
The COMEX provides liquidity for the futures market and not for the PHYSICAL SILVER and therefore should not be the price for PHYSICAL SILVER.