American Eagle Gold Bullion Coin Sales Up 25% In November
The US Mint reports that sales of the gold bullion coins were 60,000 ounces in November up by 24% from last year’s monthly sales of 48,000 ounces. Sales for November slipped from October sales of 67,500 ounces which was the second biggest sales month of the year. The year started off with a bang for the gold bullion coins when the US Mint sold 91,500 ounces in January.
Year to date sales of 506,500 ounces through November remain far below last year’s comparable sales of 800,500 ounces, a decline of 36.7%. The sale of gold bullion coins has been in a general decline since 2009 as seen in the yearly sales chart below.
Gold has been in a nonstop bear market decline since early 2011 and gold sentiment weakened even further with today’s announcement that Swiss voters rejected a call for the Swiss National Bank to increase their gold reserves.
Shown below are the total ounces sold by year since 2000 of the American Eagle gold bullion coins. Based on current sales trends sales of the gold bullion coins for 2014 will decline to the lowest levels since 2007.