September 29, 2017 / 9:46 PM / 2 years ago

UPDATE 1-U.S. Mint American Eagle Q3 silver coin sales at 10-yr low

 (Rewrites throughout with quarterly sales data, milestones;
removes table)
    NEW YORK, Sept 29 (Reuters) - Third-quarter sales of
American Eagle silver coins fell to the lowest in 10 years, U.S.
Mint data showed on Friday, as the spot price of white metal
rebounded above a 15-month low.
    Sales reached nearly 3.7 million ounces in the third
quarter, the lowest quarterly sales since 2007. On a monthly
basis, they were at 320,000 ounces in September, the lowest
since December 2016 and down 81 percent from September 2016.
    American Eagle gold coin sales reached 38,500 ounces in the
July-September period, up 45 percent from the second quarter but
down 80 percent from a year ago, data showed.
    For the month, gold coin sales reached 11,500 ounces, down
88 percent from the same period one year prior.
    Weak sales came as spot gold prices        rose to the
highest in more than a year at $1,357.54 an ounce.
    The gold-silver ratio reached nearly 78 in July, meaning
that it took roughly 78 ounces of silver to buy one ounce of
gold. This was the highest in 15 months and the ratio remained
elevated in September around 76.
    The mint launched American Eagle palladium coins for the
first time this month and its data showed September sales at
15,000 ounces.             

 (Reporting by Marcy Nicholson; editing by Diane Craft)
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