April 18, 2024

Gold and Silver Bullion Coin Sales Soar In February

March 1, 2013 by 2 Comments

Sales of both the American Eagle gold and silver bullion coins soared in February compared to the previous year.

According to the U.S. Mint, sales of the American Eagle gold bullion coin totaled 80,500 ounces in February, up 283% from comparable sales of 21,000 ounces during February 2012.  During January, the Mint sold 150,000 ounces of the gold bullion coins compared to 127,000 ounces during January 2012.  January gold bullion sales were the six largest on record and the most since July 2010 when the Mint sold 151,500 ounces.

Total 2013 sales of the American Eagle gold bullion coin through February are up 56% over the comparable period for last year.  Year to date, the U.S. Mint has sold 230,500 ounces of gold bullion coins compared to a total of 148,000 ounces during the first two months of 2012.

The American Eagle gold bullion coin is available in one ounce, one-half ounce, one quarter ounce and one-tenth ounce versions.   The vast majority of gold bullion coins are purchased as one ounce coins as can be seen from the February sales breakdown listed below.

FEB 2013 GOLD BULLION SALES
OUNCES # COINS
ONE 68,000 68,000
HALF 2,500 5,000
QUARTER 3,000 12,000
TENTH 7,000 70,000
80,500 155,000

Sales of the American Eagle silver bullion coin also remained robust after last month’s record shattering sales total.  During January, the U.S. Mint sold 7,498,000 silver bullion coins as public demand for physical silver coin soared.  The huge demand for the American Eagle silver coins forced the U.S. Mint to suspend sales twice as they sought to ramp up production to meet demand.  Ever since the financial crisis and the subsequent open ended money printing operations by the Federal Reserve, demand for physical silver has continued strong.   Prior to 2008, total annual sales of the silver bullion coins averaged only around 9.5 million coins.  During 2012, the U.S. Mint sold 33,742,500 silver bullion coins.

During February, the U.S. Mint reported that 3,368,500 American Eagle silver bullion coins were sold, an increase of 126% over sales of 1,490,000 ounces during February 2012.  Year to date sales of the silver bullion coins through February total 10,866,500, up by 43% over the comparable two month period during 2012 when 7,597,000 silver bullion coins were sold.

Long term investors are taking advantage of temporary price weakness in precious metals to add to positions (see APMEX Reports Sales Spike).   Virtually every major central bank in the world is now engaged in open ended money printing operations and blatant attempts to competitively devalue their currencies.  The public is not stupid and continued demand for physical gold and silver proves that gold and silver are becoming the default store of value.

Both the American Eagle gold and silver bullion coins are sold to the Mint’s network of authorized purchasers who buy the coins in bulk based on the market value of the precious metals and a markup by the Mint.  The public is not allowed to purchase bullion coins directly from the Mint but are allowed to buy numismatic versions of the coins.  The gold and silver bullion coins are sold by the authorized purchasers to the public, other bullion dealers and coin dealers.  The rationale for the Mint’s use of authorized purchasers is that this method makes the coins widely available to the public with reasonable transaction costs.

Filed Under: Bullion Sales, Featured, Gold, Silver, US Mint Tagged With: , , , , , , , , , , , ,

APMEX Reports Sales Spike on eBay Bullion Center

February 25, 2013 by 5 Comments

Last  Wednesday, with New York gold down over $40 per ounce, even long time gold bulls were advising caution before committing to further investment.  Some precious metals dealers reported a flood of panic selling by anxious investors who were unloading physical coin and bar.

With everyone fearful of lower prices, exactly who was buying all that gold and silver from panicked investors?

Michael Haynes, CEO of APMEX, one of the countries largest precious metals dealers, said “As gold and silver prices continue to drop, long-term investors immediately reacted to the market movement. Recognizing that the precious metals were on sale and at a discount relative to the expected future values, buyers of physical bullion increased purchasing at the APMEX Bullion Center on eBay.”

Michael Haynes explained further.

“This was the second largest selling day for the APMEX Bullion Center on eBay since inception about five months ago, beating the next highest selling day by more than 30%. As Gold and Silver prices fell, heavily influenced by the reaction of day traders to the minutes from the recent Federal Reserve Open Market Committee meeting, physical sales of both metals skyrocketed. Buyers of physical Gold and Silver have a moderate to long term view and concluded that with the price movements, the precious metals were on sale and at a discount relative to the expected future values. These investors in physical Gold and Silver apparently see the long term issues faced by the U.S. economy and seek some asset allocation into the non-correlated asset class of precious metals to protect and hedge their investments in paper assets like Stocks and Bonds.”

According to APMEX, the top sellers on the Bullion Center are the 1 oz Silver American Eagle, the 1 oz Gold American Eagle, the 5 gram Statue of Liberty Credit Suisse Gold Bar and the 100 oz Royal Canadian Mint Silver Bar.

Every bull market has corrections which offer long term investors the opportunity to add to positions at bargain prices.  The high volume of gold and silver purchases on the eBay Bullion Center indicates that mainstream buyers remain committed to precious metals as a method of wealth preservation.

Filed Under: Bullion Sales, Currency debasement, Featured, Gold, Silver, US Debt Crisis Tagged With: , , , , , , , , , ,

American Eagle Gold Bullion Coin Sales Soar In January To Multi-Year High

February 4, 2013 by 1 Comment

Sales of the American Eagle gold bullion coin soared during the first month of the year.  According to the US Mint, gold bullion coin sales totaled 150,000 ounces, up 97.4% from December 2012 when 76,000 ounces were sold.  Sales for the month were up 18.1% from comparable sales of 127,000 ounces a year ago during January 2012.

There has been a surge in demand for both gold and silver bullion coins during the first month of 2013.  Sales of the American Silver Eagle bullion coins hit an all time record high during January as public demand for physical silver soared.  The U.S. Mint has been forced to suspend sales of the silver bullion coins twice since last December since their entire stock was sold out.  In addition, opening day sales for the 2013 American Silver Eagle bullion coins were the largest on record with total sales of 3,937,000 coins.  To put this huge sales figure into perspective, prior to 2008, total annual sales of the silver bullion coins was only about 9.5 million coins.

January sales of 150,000  ounces of American Eagle gold bullion coins was the sixth largest on record and represents a multi-year high in sales since July 2010 when 152,000 ounces were sold.  The previous record months were June 2010 with 151,500 ounces, December 2009 with 231,500 ounces, April 2009 with 157,500 ounces and December 2008 with 176,000 ounces.

The gold bullion coins are available in one ounce, one-half ounce, one quarter ounce and one-tenth ounce.  The total number of coins sold during January 2013 was 275,500 as shown below.

JAN 2013 GOLD BULLION SALES
OUNCES # COINS
ONE 124,500 124,500
HALF 8,500 17,000
QUARTER 6,000 24,000
TENTH 11,000 110,000
150,000 275,500

The American Eagle gold bullion coins are not sold directly to the public but rather to the Mint’s network of authorized purchasers who buy the coins in bulk based upon the market value of gold and a Mint markup.  The authorized purchasers then resell the coins to the public, coin dealers and other bullion dealers.  The U.S. Mint utilizes this distribution channel in order to make the coins widely available to the public with reasonable transaction costs and premiums in line with other bullion programs.

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American Silver Eagle Bullion Coin Sales Soar To All Time Record High

January 29, 2013 by Leave a Comment

With two days remaining in the month of January, U.S. Mint sales of the American Silver Eagle bullion coins have already established an all time record high.   The latest numbers from the Mint show total sales of 7,420,000 silver bullion coins as January 29, 2013.  Total sales during January 2012 amounted to 6,107,000 coins.  During January 2011 (the previous monthly record high for silver bullion coin sales) the Mint sold 6,422,000 coins.

The public demand for silver seems insatiable.  To put the unprecedented demand for silver into perspective, prior to the financial crisis of  2008, total yearly sales of the silver bullion coin averaged only about 9.5 million coins per year.  With the Federal Reserve furiously printing money to keep the financial system glued together, investor demand for both physical silver and gold bullion is likely to increase dramatically.

The US Mint has been unable to keep up with the demand for American Silver Eagles for the past two months (see U.S. Mint Sold Out).  During December, unexpectedly strong demand resulted in the suspension of silver bullion coin sales during mid December after the entire stock of 2012 coins was sold out.  At the time the Mint announced that the 2013 American Silver Eagles would be available on January 7, 2013.

Opening day sales on January 7th for the 2013 American Silver Eagle bullion coins turned out to be the largest on record with sales of 3,937,000 coins.  Demand for silver bullion continued to climb and by January 17th, the Mint once again announced that sales of the silver bullion coins would be suspended until the last week of January.  When sales resumed this week, demand was again much higher than anticipated.  Due to record demand, the Mint previously announced that they may have to institute rationing of the coins.  Since the US Mint’s production schedule has been blown right out the window for two months running, it would not be surprising if rationing of the coins was implemented.

Sales of the American Eagle Gold bullion coins has also soared during the first month of the year.  January sales to date of 140,000 ounces of gold bullion coins is the highest monthly sales since June 2010 when the Mint sold 151,500 ounces.

Filed Under: Bullion Sales, Featured, Gold, Silver, US Mint Tagged With: , , , , , , , , , , , , ,

Gold Bullion Coin Sales Drop For Fourth Straight Year, 2013 Sales Off To Strong Start

January 3, 2013 by Leave a Comment

According to the latest U.S. Mint report, sales of the American Eagle Gold bullion coins for December 2012 totaled 76,000 ounces, up 16% from December 2011 when 65,500 ounces were sold.  Sales for the month were down 44.3% from November sales which totaled 136,500 ounces.

Sales of the gold bullion coins can vary dramatically from month to month.  The highest sales month was November with sales of 136,500 ounces and the lowest sales month was April when only 20,000 ounces were sold.  Average monthly sales of the gold bullion coins for 2012 was 62,750 ounces with total sales for the year coming in at 753,000.   The gold bullion coins are available in one ounce, one-half ounce, one quarter ounce and one-tenth ounce.

Sales of the American Eagle Gold bullion coins have now declined for four straight years in a row.  The all time record sales year was 2009 when the U.S. Mint sold 1,435,000 ounces.   The value of the gold bullion coins purchased since 2000 totals almost $13.5 billion.

The U.S. Mint only sells the gold bullion coins to a network of authorized purchasers who buy the coins in bulk based on a markup and the market gold value.  The primary distributors who buy the coins then resell them to other bullion dealers, coin dealers and the public.  By using this type of distribution channel, the U.S. Mint believes that the coins can be made widely available to the public with reasonable transaction costs and at premiums in line with other bullion programs.

The 2013 American Gold Eagle bullion coins were first available to authorized purchasers on January 2, 2013.  Demand for the newest gold bullion coins was very strong with 50,000 ounces sold on the first day.  For the entire month of January 2012, a total of 127,000 ounces of the coins were sold.

Gold Bullion U.S. Mint Sales By Year
Year Total Sales Oz.
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
Total 8,002,500

After a volatile year, gold ended with a strong note for 2012, up by 7.1% and rising for the 12th year in a row as global central banks ramped up the printing presses in an attempt to “stimulate” the world economy.  In his annual “10 Surprises ” list for 2013, Byron Wien, Chairman of Blackstone Group’s advisory unit predicted that gold would reach $1,900 as “central bankers everywhere continue to debase their currencies and the financial markets prove treacherous.”  Based on the way things are going and the speed at which central banks are joining the money printing race, Mr. Wien’s forecast is likely to prove extremely conservative.

Filed Under: Bullion Sales, Currency debasement, Featured, Gold, US Mint Tagged With: , , , , , , , , ,

U.S. Mint Numismatic Precious Metals Sales Decline

October 25, 2012 by Leave a Comment

According to Coin Update, sales of numismatic precious metal coins showed weekly sales declines.  Future sales, however, may increase due to an upcoming price decrease based on the recent correction in precious metal prices.

The latest report of the United States Mint’s numismatic product sales shows mostly lower numbers for precious metals products. Elsewhere in the report, the Chester Arthur Presidential $1 Coin and Alice Paul Bronze Medal Set makes its debut.

Ten out of sixteen gold numismatic products showed weekly sales declines compared to the prior period. The US Mint currently has these products priced based on an average gold price within the $1750 to $1799.99 range. With the market price of gold below this range for the entire reporting period, buyers may be showing restraint as they await the next weekly pricing adjustment.

Eighteen out of twenty-seven of the silver numismatic products showed weekly sales declines compared to the prior period. The US Mint raised prices for many of these products earlier in the month when the market price of silver was approaching $35 per ounce. Silver has since fallen back from this level, although the higher product prices remain in effect. The America the Beautiful Five Ounce Silver Coins showed sales declines across all nine options currently available. Gains were seen for the 2012 Proof and 2012-W Uncirculated Silver Eagles compared to the prior period.

The 2012 Proof Platinum Eagle, which is the only available platinum product, showed negative sales on the week.

See the full sales report for U.S. Mint numismatic products here.

Month to date figures for U.S. Mint gold and silver bullion coins remains strong.  Through October 24th, the U.S. Mint sold 2,584,000 one ounce American Eagle Silver Bullion coins.  If the current sales pace continues, monthly sales could exceed 3.5 million ounces which would be the second best monthly sales total after January when 6,107,000 silver Eagles were sold.

Sales of the American Eagle Gold Bullion coins also remain strong through October 24th with 48,500 ounces sold.  If the current pace of sales is maintained, total sales of the American Gold Bullion coins should reach almost 65,000 for October which would be the third highest sales month of the year.  In January the U.S. Mint sold 127,000 ounces of gold bullion coins followed by 68,500 ounces in September.

Although gold prices have soared over the past decade and the purchasing power of the dollar has collapsed, the American public still does not recognize the value of gold and silver as a store of wealth.  Expect this to change as the bull market in precious metals continues.

Filed Under: Bullion Sales, Currency debasement, Featured, Gold, Platinum, Silver, US Mint Tagged With: , , , , , , , , , , ,

Gold Bullion Coin Sales Soar 76% In September, Silver Sales Up 13%

October 1, 2012 by 1 Comment

According to the latest report from the U.S. Mint, demand for both gold and silver bullion coins during September surged to the highest levels since January.

Total sales of the American Eagle Gold bullion coins during September soared 75.6% to 68,500 ounces from 39,000 ounces in August.  Monthly sales of gold bullion coins have fluctuated widely during 2012 with a high of 127,000 ounces in January and a low of 20,000 ounces in April.   The average monthly sales of gold bullion coins through September is 53,500.

Total sales of the American Eagle Gold bullion coins through September total 481,500 ounces.   Unless sales surge dramatically during the last three months of the year, 2012 will be the fourth year of declining sales of the gold bullion coin.   As detailed below, the all time record for sales of the gold bullion coins was during 2009 when sales exceeded 1.4 million ounces.

Gold Bullion U.S. Mint Sales By Year
Year Total Sales Oz.
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
Sept-12 481,500
Total 7,731,000

U.S. Mint sales of the American Eagle Silver bullion coins during September totaled 3,255,000 ounces, up 13.4% from August sales of 2,870,000 ounces.

Investor demand for the American Eagle Silver bullion coins has been relatively consistent throughout the year.  After a very strong January during which over 6.1 million coins were sold, demand remained strong with monthly sales well in excess of 2 million ounces except for February when sales slumped to 1,490,000 ounces.  If monthly sales of the American Eagle silver coins continue at the September sales pace, total sales for 2012 will be close to the record year of 2011 when almost 40 million ounces were sold.

Total annual sales by the U.S. Mint of the silver bullion coins since 2000 are shown below.  Sales for 2012 are through September.

American Silver Eagle Bullion Coins
YEAR OUNCES SOLD
2000 9,133,000
2001 8,827,500
2002 10,475,500
2003 9,153,500
2004 9,617,000
2005 8,405,000
2006 10,021,000
2007 9,887,000
2008 19,583,500
2009 28,766,500
2010 34,662,500
2011 39,868,500
Sept-12 25,795,000
TOTAL 224,195,500

The American Eagle gold and silver bullion coins produced by the U.S. Mint can only be purchased by Authorized Purchasers who in turn resell the coins to other dealers and the general public.  Numismatic versions (uncirculated or proof) of the American Eagle series coins can be purchased by the public directly from the U.S. Mint.

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Government Brazenly Confiscates 1933 Gold Double Eagles – Bury Your Gold Deep

September 6, 2012 by 6 Comments

Nothing seems to obsess the U.S. government more than gold.  Could this be due to the fact that gold represents an alternative currency to the failing U.S. dollar, despite the assertions of Fed Chairman Bernanke that “gold is not money?”

The case of the government’s effort to seize 10 1933 Double Eagle gold coins from the heirs of a private coin collector highlight the unlimited time, effort and expense the government is willing to expend in their war against gold.  The heirs of coin dealer Israel Swift discovered the Double Eagles in a safe deposit box.  After voluntarily showing them to the U.S. Treasury, the government promptly confiscated the coins, claiming that the coins had never been officially released by the U.S. Mint due to President Roosevelt’s executive order on April 5, 1933, ordering all private citizens to turn over their gold to the government.

An in depth article by Coin Week examines the case of the 1933 Double Eagles and details substantial evidence against the validity of the government’s right to confiscate the coins.  The article also wonders what implications this case will have on future seizures of rare coins from private citizens and comments on the government’s decades old zeal in pursuing the 1933 Double Eagles.

“It is unbelievable to me how much the government has spent on this,” exclaims Dr. Steven Duckor. “It is ludicrous for the government to be spending this much time, effort and money in the 1940s, from 1996 to 2002, and now in the Langbord case. The government should spend money on more important priorities,” in Duckor’s view. “It would be okay to make a deal like they did last time. I would not mind some type of deal.” Dr. Duckor is an expert in Saint Gaudens Double Eagles. Among living collectors who reveal their names, he is probably the most sophisticated and widely respected.

After the government seized the Double Eagles in 2004, the Swift family heirs sued the government for their return.  Last July, after the conclusion of a civil trial, a jury concluded that the government had the right to seize the coins.  The case remained on hold while a federal judge considered subsequent legal motions filed in the case.  On August 29th, the federal judge ruled that the gold coins “remain the property of the United States” and that “Given the evidence, a reasonable jury could find that the ’33 Double Eagles were knowingly stolen or embezzled from the Mint.”   What a shocker – a federal judge ruling in favor of the government!

The case of the Double Eagle seizure is not an isolated incident and the federal government has become increasingly brazen about suspending or ignoring rules of law to settle matters in its own favor.  In a Bloomberg interview, Professor David Skeel says blatant violations of long established law principles by the government is starting to have a profoundly negative impact on the nation’s economy.

Will government gold seizures and other actions that violate principles of law continue to escalate?   We don’t even want to think about how bad things will get.  GATA reports today that in an interview with King World News , Marc Faber fears that “gold will rise so fast that governments will feel compelled to try to confiscate it from investors.”

The very thought that gold investors need to live in fear of their own government is a chilling thought.  Bury your gold deep!

Filed Under: Featured, Gold Tagged With: , , , , , , , ,

Gold and Silver Bullion Coin Sales Jump 25% In August, San Francisco Silver Eagle Set Sold Out

September 1, 2012 by 2 Comments

The latest sales figures from the U.S. Mint for August show a significant increase in sales of both gold and silver bullion coins.

Sales of gold bullion coins during 2012 have varied dramatically from month to month with a high of 127,000 ounces in January to a low of only 20,000 ounces in April.  Monthly gold bullion sales through August have averaged 51,625 ounces.

Monthly sales of silver bullion coins have been more consistent during 2012.  The U.S. Mint sold over 6 million ounces of silver bullion coins in January, but the monthly pace has tapered off to under 3 million ounces.  The average monthly sales of silver bullion coins through August is 2,817,500.

American Eagle Gold Bullion Coin Sales

Total sales of the American Eagle Gold bullion coins during August totaled 39,000 ounces, up 27.9% from July’s total of 30,500 ounces.  Total sales of gold bullion coins by the U.S. Mint through August totaled 413,000 ounces, valued at approximately $700 million based on today’s closing gold price.

On an annualized basis, the U.S. Mint will sell almost 620,000 ounces of  gold bullion to investors this year valued at $1.0 billion if the price of gold remains at $1,692.  During 2009, the peak year of gold bullion coin sales by the U.S. Mint, investors purchased 1,435,000 ounces valued at $1.4 billion based on the average price of gold of $972 per ounce.

Investors who have reduced gold bullion purchases due to the increased cost per ounce will no doubt regret this decision as the price of gold continues to increase.  The value of gold should be viewed in the context of the reduced purchasing power of the dollar – as the Federal Reserve constantly destroys the purchasing power of the U.S. dollar, the “dollar cost” of gold will naturally increase.  The price of gold is merely reflecting the fact that paper dollars are worth less and less every day.

As the Fed continues to do what it does, expect the bull market in gold to continue.

Listed below are yearly sales figures for the American Eagle gold bullion coins since 2000.  Sales for 2012 are through August 31st.

Gold Bullion U.S. Mint Sales By Year
Year Total Sales Oz.
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 413,000
Total 7,662,500

American Eagle Silver Bullion Coin Sales

Sales of the American Eagle Silver bullion coins by the U.S. Mint during August totaled 2,870,000 ounces, up 25% from the July total of 2,278,000 ounces.  Investor demand for silver has remained strong, with many investors taking the opportunity to purchase additional silver below the highs reached during 2011.  Sales of the silver bullion coins remain near record levels and total sales for 2012 should be well in excess of 30 million ounces for the third consecutive year.

Total annual sales by the U.S. Mint of the silver bullion coins since 2000 are shown below.  Sales for 2012 are through August.

American Silver Eagle Bullion Coins
YEAR OUNCES SOLD
2000 9,133,000
2001 8,827,500
2002 10,475,500
2003 9,153,500
2004 9,617,000
2005 8,405,000
2006 10,021,000
2007 9,887,000
2008 19,583,500
2009 28,766,500
2010 34,662,500
2011 39,868,500
Jul-12 22,540,000
TOTAL 220,940,500

U.S. Mint Numismatic American Eagle Gold and Silver Coins

Both the American Eagle gold and silver bullion coins can only be purchased from the U.S. Mint by Authorized Purchasers who in turn resell the coins to other dealers and the general public.  The numismatic versions of the American Eagle series coins can be purchased directly from the U.S. Mint.

Many of the numismatic silver coins produced by the U.S. Mint attract strong demand and often times, the coins will sell at a premium in the secondary market.  A recent example of this is the 2012 San Francisco Silver Eagle Set.  According to the Mint News Blog:

The 2012 San Francisco Silver Eagle Set was one of the United States Mint’s most anticipated product releases of the year. Each set contained one 2012-S Proof Silver Eagle and one 2012-S Reverse Proof Silver Eagle.

Product sales began on June 7, 2012 at 12:00 Noon ET with pricing of $149.95 per set. Rather than establishing a maximum product limit, as had been done for similar products in the past, the US Mint would accept orders during a four week ordering window and produce the sets to meet the total demand. A sales odometer which was updated daily gave collectors an indication of the progress of the offering. Sales officially closed on July 5, 2012 at 5:00 PM ET. The last indicated sales total was 251,302 sets.

On the secondary market, prices for the sets remain above the issue price. A quick survey of eBay auctions completed within the past few days show the prices realized for raw sets mostly falling into a range of $180 to $190, compared to the issue price of $149.95.

Sets which have been graded by PCGS or NGC and received the top grade of Proof-70 have sold for premiums above raw sets. Sets with the two coins graded PCGS PR70DCAM and PR70 have recently sold for prices around $425 to $450. Sets with the two coins graded NGC PF 70 Ultra Cameo and PF 70 have sold for prices around $300 to $325.

Filed Under: Bullion Sales, Currency debasement, Featured, Gold, Silver, US Mint Tagged With: , , , , , , , , , , , , , , , , ,

Gold Bullion Coin Sales Plunge 50% In July, Silver Sales Off 20%

July 31, 2012 by 2 Comments

The latest sales figures from the U.S. Mint show that sales of both gold and silver bullion coins declined dramatically during July.  While sales of silver bullion coins have remained at historically high levels, sales of the gold bullion coins have been in a steep decline since 2009.

American Eagle Gold Bullion Coin Sales

Sales of the American Eagle Gold Bullion coins during July totaled 30,500 ounces, a 49.2% decline from June sales of 60,000 ounces.  Two previous months of the year had lower gold coin sales than July.  During February 21,000 ounces of gold bullion coins were sold and in April only 20,000 ounces were sold.   The year to date average monthly sales figures for gold bullion coins total 53,428 compared to a monthly average of 83,333 during 2011.

The all time yearly sales record for the American Eagle gold bullion coins was set during 2009 when it looked as if the entire U.S. banking system was about to collapse.  Sales in each subsequent year have been lower than 2009 despite the increase in the price of gold since then.  In 2009 gold closed the year at $1,087.50 per ounce, subsequently hit a high of $1,895 on September 5, 2011 and closed today at $1,615.90 in New York trading.  If sales during 2012 are annualized, total gold bullion coin sales will reach approximately 641,000 ounces, the lowest amount since 2007 when yearly sales came in at 198,500 ounces.

Listed below are yearly sales figures for the American Eagle gold bullion coins since 2000.  Sales for 2012 are through July 31st.

Gold Bullion U.S. Mint Sales By Year
Year Total Sales Oz.
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 374,000
Total 7,623,500

The graph below shows gold bullion coins sales since 2012, with sales annualized for 2012.

American Eagle Silver Bullion Coin Sales

According to the U.S. Mint, sales of the American Eagle silver bullion coins totaled 2,278,000 ounces during July, a decline of 20.3% from June’s total of 2,858,000.   The highest monthly sales of the silver bullion coins during 2012 was 6,107,000 ounces recorded in January followed by the lowest monthly sales of 1,490,000 ounces in February.  Average monthly sales of the silver bullion coins through July was 2,810,000.

The silver bullion coins have showed resilient demand despite the drop in silver prices since mid 2011.  Based on year to date sales figures, total sales of the silver bullion coins could approach 34 million ounces, not far below the record sales figure recorded in 2011 when almost 40 million ounces were sold.

Total annual sales by the U.S. Mint of the silver bullion coins since 2000 are shown below.  Sales for 2012 are year to date totals through July.

American Silver Eagle Bullion Coins
YEAR OUNCES SOLD
2000 9,133,000
2001 8,827,500
2002 10,475,500
2003 9,153,500
2004 9,617,000
2005 8,405,000
2006 10,021,000
2007 9,887,000
2008 19,583,500
2009 28,766,500
2010 34,662,500
2011 39,868,500
Jul-12 19,670,000
TOTAL 218,070,500

The American Eagle gold and silver bullion coins are sold by the U.S. Mint only to Authorized Purchasers who in turn resell the coins to the general public and other dealers.  Numismatic versions of the American Eagle series gold and silver coins can be purchased by the public directly from the U.S. Mint.

Filed Under: Bullion Sales, Featured, Gold, Silver, US Mint Tagged With: , , , , , , , , , , , , , ,