Silver coin exceeds 100m oz. in sales

The U.S. Mint reports that sales of its American Eagle silver coin have topped 100 million oz.

More than 100,700 of the 1-oz. coins have been sold since they were introduced in 1986. That’s equivalent to US$517.3 million, based on US$4.35 per oz. (the average annual London fix over the program’s duration).

In 2001 alone, sales topped US$38.4 million.

The source of silver for the coins had been the U.S. Defense National Stockpile Center (DNSC), though that supply is now depleted. The mint will replenish its silver on the open market.

American Eagles are the only bullion coins whose weight, content and purity are guaranteed by the U.S. government and can be bought at most major coin and precious metals dealers or directly from the mint.