U.S. Mint Gold Coin Sales Soar 273% in October

November 4, 2013

gold-bullionAlthough sales totals vary from month to month, annual sales of the U.S. Mint American Eagle gold bullion coins are running at triple the levels prior to 2008 when the wheels came off the world financial system and central banks began an orgy of money printing.

From 2000 to 2007 the average yearly purchases of the American Eagle gold bullion coins totaled 341,500 ounces per year.  From 2008 to 2013 annual purchases of the gold coins have spiked by 300% to an average annual rate of 1,011,000 ounces.

After lackluster sales of gold coins in the slow months of August and September sales soared in October as investor demand for physical gold surged.  Total sales of the American Eagle gold coins for October 2013 came in at 48,500 ounces, an increase of 273% over the September total of 13,000 ounces.   October sales of gold bullion coins for the comparable prior year period totaled 59,000.

The U.S. Mint American Eagle gold bullion coins remain the premier method of building wealth through periodic purchases.  The American public can't seem to get enough of the bullion coins and the desperate actions of global central banks to keep the financial system afloat with a deluge of paper money can only cause more financial anxiety and more gold purchases going forward.

2013 sales through October 2013

With two months still remaining in 2013, investors have already purchased almost the same amount of gold bullion coins that were sold for all of 2012.   Year to date sales of the American Eagle through October total 752,500 ounces compared to 753,000 ounces for all of 2012.

 

Gold Bullion U.S. Mint Sales Since 2000
         Year                           Total Ounces
2000 164,500
2001 325,000
2002 315,000
2003 484,500
2004 536,000
2005 449,000
2006 261,000
2007 198,500
2008 860,500
2009 1,435,000
2010 1,220,500
2011 1,000,000
2012 753,000
2013 752,500
 TOTAL                               8,755,000
(above 2013 totals through October 2013)

The American Eagle gold bullion coins cannot be purchased by individuals directly from the U.S Mint.  The coins are sold only to the Mint's network of authorized purchasers who buy the coins in bulk based on the market value of gold and a markup by the U.S. Mint.  The authorized purchasers sell the gold coins to coin dealers, other bullion dealers and the public.  The Mint's rationale for using authorized purchasers is that this method makes the coins widely available to the public with reasonable transaction costs.

gold-buffalo

The public is allowed to purchases numismatic versions of gold coins directly from the U.S. Mint.   One of the most popular numismatic gold coins is the American Buffalo, available in both one ounce gold reverse proof and one ounce gold proof.

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