Monday Morning Brief for Dec. 5, 2022: More American Eagles

Monday Morning Brief for Dec. 5, 2022: More American Eagles

By William T. Gibbs , Coin World, Published: Dec 5, 2022, 7 AM

The biggest improvement U.S. Mint officials can make to their operations in 2023 would be to acquire more planchets for the 2023 American Eagle silver bullion coin than they did for the 2022 program.

Sales of 2022 American Eagle silver bullion coins are well below 2021 levels. As of Oct. 30, the Mint had sold to its authorized purchasers 15,904,500 of the 1-ounce coins. During the comparative period in 2021, the Mint’s 10-month total had reached 26,751,500 coins.

The American Eagle silver bullion coin is one of the most popular investment silver coins in the world. The lower supply of 2022 coins has helped propel premiums for the bullion coins to levels well above what authorized purchasers pay the Mint. Since collectors and investors can acquire the coins only from the authorized purchasers or their dealer clients, potential buyers are forced to pay prices well above the value of the silver the coins contain or seek cheaper alternative bullion coins.

A check on Nov. 29 with one prominent seller of bullion items, when silver was at $21.48, showed the following prices for single examples of several silver bullion pieces: generic round, $28.07; British Britannia, $30.97; Canadian Maple Leaf, $31.47; and the American Eagle, $41.47.

The Mint owes its customers to find ways to circumvent the silver supply line problems and drive market premiums down in 2023. That will make everybody — sellers and buyers — happier.

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