The U.S. Mint Sold 28,500 American Gold Buffalo Coins in October.
October sales of American Gold Buffalo coins hit their highest monthly total since January. The U.S. Mint reported selling 28,500 one ounce 24K American Gold Buffalo coins October 2016. Last month, the U.S. Mint reported selling a robust 17,500 American Gold Buffalo coins. October sales of American Gold Buffalo coins were up 63% from September and 171% from October 2015.
Sales of American Gold Buffalo Coins in October 2006 – 2016
2016 American Gold Buffalo Sales
American Gold Buffalo coin sales have ramped up the past two months of 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 Buffalo 2016 Sales Projection
If sales of one ounce American Gold Buffalo sales continue at an average of 17,700 month. 177,500 sold from January – October), sales in 2016 would be about 212,000. The annual record for sales of American Gold Buffalo coins is 323,000 set in 2006, the first year of the coin’s mintage.
Sales of One Ounce American Gold Buffalo Coins 2006-2016
In 2006, their first year of mintage, 323,000 American Gold Buffalo coins were sold.
Total U.S. Mint October Gold Sales – 144,500 Ounces
When October sales of American Gold Buffalo coins (28,500 ounces) are combined with American Gold Eagle (AGE) sales, including one tenth ounce AGEs (7,500 ounces); one quarter ounce AGEs (4,000 ounces); one half ounce AGEs (4,000 ounces) and one ounce AGE coins (100,500), the total gold sold at the U.S. Mint in October was 144,500 ounces.
American Gold Buffalo 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.