US Mint Gold and Silver Bullion Coin Sales Decline in September

October 3, 2013

silver, goldDemand for American Eagle gold and silver bullion coins remained sluggish in September according to the latest figures from the U.S. Mint.

Sales of the American Eagle gold bullion coin totaled 13,000 ounces in September, off a considerable 77% from the previous year but up 13% from last month.  Sales of the gold bullion coin in August were only 11,500 ounces, the lowest monthly sales of the year.

The slowdown in gold coin sales marks a turnaround from the beginning of the year when demand for physical gold seemed insatiable.  April sales of the American Eagle gold coins came in at 209,500 ounces which was the largest sales month since December 2009 when 231,500 ounces were sold.

Despite the frenzy of money printing by banks around the world, gold bullion coin sales have declined every year since 2009 as the financial system stabilized.  Gold sales soared during the financial panic in 2009 to an all time high as nervous buyers sought safe haven in gold.

Yearly sales of the gold bullion coins are shown below.  The 2013 total is through September 3o.

Sales of the American Eagle silver bullion coins declined for the second month in a row.  During September the U.S. Mint sold 3,013,000 silver coins, down 7.4% from last year and down 16.9% from August.

Despite the soft sales in September, demand for the silver bullion coins has been robust this year.  If sales continue at the 3 million coins per month rate through year end, 2013 will turn out to be a record sales year with annual estimated silver bullion coin sales of 45 million.

Sales of the American Eagle silver bullion coins by year are shown below.  The 2013 sales total is through September 30.

 

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