2010 American Silver Eagle Bullion Coin Sales: January, 2010

by Bullion Prices Staff on January 31, 2010

2010 American Silver Eagle Bullion Coins were released on January 19, 2010, to eager buyers who sprinted to place US Mint orders that totaled 3,592,500 by month’s end.

Pent-up demand driven by a later than usual launch helped drive sales. The United States Mint normally releases newly dated bullion coins in late December so they can be sold to the public in time for the new year. That did not happen this year as demand in December left inventories low, compelling the Mint to strike 2009s late into last year and sell them into 2010. The 2009-dated Silver Eagles eventually sold out on Jan. 12, leaving a week of silence until the 2010s were released.

When launched, the coins sold like hot cakes. US Mint authorized buyers snapped up 2,480,000 within 48 hours — just more than 8.6 percent of the total sold in all of recording-breaking 2009. When adding in the 2009-dated eagles that were sold weeks before, Mint accounting shows 2,847,500 one-ounce silver coins were purchased through to Wednesday, Jan. 20.

And despite silver prices diving between that Wednesday and the following Friday, or perhaps because buyers were getting in on a perceived dip, another 243,000 left US Mint doors. That brought the total to 3,090,500. Three business days later (last Wednesday), 502,000 more were gone, bringing the final January tally to the aforementioned 3,592,500.

How impressive is that? The annual series was born in 1986. Since then, there has only been one other January month (Jan. 2008) where sales had even passed the 2 million mark.

For more information about this year’s silver bullion coin, to include specifications and design details, visit the coin information page 2010 American Silver Eagles.

The Mint does not sell bullion eagles directly to the public, but instead to a small group of authorized purchasers who in turn resell them to precious metal providers, investors, dealers and collectors. These coins do not have a mint mark, unlike their numismatic counterparts.

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