March 29, 2024

US Mint Sells 1,429,500 Ounces of Gold Bullion During 2010

The United States Mint sold less gold bullion during 2010 than the previous year, as measured in ounces. Across their offerings of American Gold Buffalo and American Gold Eagle bullion coins, sales reached 1,429,500 in the current year compared to 1,625,000 in the prior year.

The American Gold Buffalo is struck in one ounce of 24 karat (.9999 fine) gold and carries James Earle Fraser’s classic design from the Buffalo Nickel. The 2010-dated coins were first available on April 29, 2010 and remained available for ordering by authorized purchasers until late September 2010.

The American Gold Eagles are struck in a composition of 22 karat ( .9167 fine) gold and carry the obverse design of Augustus Saint Gaudens’ classic double eagle. A range of weights are available to provide greater investment flexibility. The one ounce 2010 Gold Eagle went on sale January 19, 2010, with the one-half ounce, one-quarter ounce, and one-tenth ounce size coins on sale June 10. The coins remained on sale through the end of the year.

For the calendar year, the US Mint sold the following quantities of gold bullion coins:

Coins Total oz.
American Gold Eagle 1 oz 1,143,000 1,143,000
American Gold Eagle 1/2 oz 46,000 23,000
American Gold Eagle 1/4 oz 62,000 15,500
American Gold Eagle 1/10 oz 390,000 39,000
American Gold Buffalo 1 oz 209,000 209,000
Total 1,429,500

The drop in total ounces sold from the prior year is 195,500, representing a decline of about 12%.

Despite the drop in ounces sold, there was likely an increase for the year based on total dollar sales due to the higher price of gold. For 2010, the price of gold was up more than 27%.

Authorized purchasers are allowed to order gold bullion coins directly from the US Mint in minimum quantities of 1,000 ounces. The price paid is based on the London PM Gold Fix price following the day of order.

Speak Your Mind

*