Sales of gold at the U.S. Mint fell in March as price of gold stabilized and the geo-political situation was relatively calm. The price of gold rose about $90 an ounce or about 8% from $1158 an ounce on January 3 to $1248 an ounce by the end of February. Gold closed March at $1249 an ounce. Higher gold prices seem to have curbed gold demand in February and March.
March 2017 American Gold Eagle Sales
The U.S. Mint reported selling 16,000 one ounce 22K American Gold Eagle coins (AGE’s) at the U.S. Mint in February. The U.S. Mint also sold 1,000 one half ounce AGEs (500 ounces), 4,000 quarter ounce AGEs (1,000 ounces) and 35,000 one tenth ounce AGEs (3,500 ounces) in Total. Total AGEs of all sizes sold in February 2017 were 56,000 (totaling 21,000 ounces).
March American Gold Eagle sales of 21,000 ounces were down 24% from 27,500 ounces sold in February 2017 and down 45% from 38,000 ounces sold in March 2016.
About the American Gold Eagle coin: The obverse of an American Gold Eagle coin boasts the same design as the obverse of the “Saint Gaudens” U.S. $20 gold piece, or “double eagle” that was minted from 1907 – 1933. The front of a Saint Gaudens and American Gold Eagle coin features a walking lady liberty depiction designed by famed sculptor Augustus Saint- Gaudens.
March 2017 American Gold Buffalo Sales
The U.S. Mint reported selling 8,500 one ounce American Gold Buffalo coins in March, down from 15,000 sold in February and up from 7,000 sold in March 2016.
About the American Gold Buffalo Coin
American Gold Buffalo coins are 24K gold while American Gold Eagle coins are 22K. One ounce American Gold Buffalo coins are slightly smaller and lighter than their one ounce American Gold Eagle counterparts that contain 3% silver and 5% copper mixed in the alloy, bringing the total weight of a one ounce American Gold Eagle coin to nearly 1.10 ounces.
The American Gold Buffalo is the U.S. Mint’s answer to 24K gold coins issued by the Canadian and Austrian Mints. American Gold Buffalo coins are only minted in one ounce sizes, unlike their American Gold Eagle counterparts which are minted in one ounce, one half ounce, one quarter ounce and one tenth ounce sizes. In 2008, however, the U.S. Mint produced American Gold Buffaloes in one, 1/2, 1/4 and 1/10 ounce sizes. The coins were sold individually and in complete sets.
American Gold Eagle and Buffalo sales data from USMINT.GOV
American Silver Eagle Sales
Sales of American Silver Eagle coins at the U.S. Mint rose in March as price of silver continued to rise and the geo-political situation was relatively calm. The price of silver rose about $2 an ounce or about 12% from $16.30 an ounce on January 3 to $18.31 an ounce by the end of February. Silver closed March at $18.31 an ounce, unchanged from February’s close.
March 2017 American Silver Eagle Sales
The U.S. Mint reported selling 1,615,000 one ounce American Silver Eagle coins (ASE’s) at the U.S. Mint in March. March sales of American Silver Eagle were up 32% from February sales of 1,215,000 and down 61% from March 2016 sales of 4,106,000.
About the American Silver Eagle coin
American Silver Eagle coins are .999 pure silver (ASE’s contain .0007 copper), rather than .9999 silver. The obverse of an American Silver Eagle coin boasts the same design as the obverse of the “Liberty Walking” U.S. $.50 piece that was minted from 1916-1947 of 90% silver and 10% copper. The front of a Liberty Walking Half Dollar and an American Silver Eagle coin features a walking lady liberty depiction designed by Adolph A. Weinman who also worked with Augustus Saint Gaudens, whose design appears on the U.S. gold Double Eagle coin (1907 – 1933) and the contemporary American Gold Eagle coin (1986 – present).
American Silver Eagle sales data from USMINT.GOV
This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.