May 28, 2022

US Mint Gold Bullion Sales Collapse in August

The US Mint’s published sales figures for the month of August show a stunning decline in the level of gold bullion sales. The monthly sales for their popular American Gold Eagle bullion coins measured just 41,500 ounces. This represents the lowest monthly total since June 2008, before the financial crisis took hold and led to a surge in bullion sales.

American Gold Eagle sales during August included 39,000 one ounce coins, 1,000 one-half ounce coins, 2,000 one-quarter ounce coins, and 15,000 one-tenth ounce coins to make up the total sales of 41,500 ounces. This represents a decline of more than 70% compared to the previous month and about 50% compared to the year ago period.

The US Mint’s other gold bullion offering, the 24 karat American Gold Buffalo also put in a lackluster month with sales of 15,500 of the one ounce coins. This is down from a monthly high of 70,500 ounces in May and the prior month total of 23,000 ounces. In the year ago period, the coins were not available.

Since the American Gold Eagle coins have been available continuously (amidst a few periodic suspensions), the monthly sales totals illustrate the pattern demand for the US Mint’s gold bullion coin. There have been a few other monthly drops over the course of the past few years and demand has always managed to recover.

Here are the monthly sales totals for American Gold Eagle bullion coins (in ounces) since June 2008.

Jun-08 15,500
Jul-08 50,000
Aug-08 86,000
Sep-08 113,000
Oct-08 121,500
Nov-08 116,500
Dec-08 176,000
Jan-09 92,000
Feb-09 113,500
Mar-09 136,500
Apr-09 147,500
May-09 65,000
Jun-09 116,000
Jul-09 86,000
Aug-09 82,000
Sep-09 115,500
Oct-09 115,500
Nov-09 124,000
Dec-09 231,500
Jan-10 85,000
Feb-10 84,000
Mar-10 102,000
Apr-10 60,500
May-10 190,000
Jun-10 151,500
Jul-10 152,000
Aug-10 41,500