U.S. Mint Sells 11,000 one ounce American Gold Eagle Coins in October.
Through October 2017, American Gold Eagle Sales Were at 181,000 ounces.
Gold sales at the U.S. Mint have been tepid all year since January when sales of one ounce American Gold Eagle coins were 86,000. Sales of one ounce American Gold Eagle coins fell 89% in October year over year from 100,500 sold in October 2016.
Total Coins Sold Attributable to American Gold Eagles Were 45,000 Coins in October 2017
In October, the U.S. Mint also sold 30,000 one tenth ounce AGEs; 2,000 one quarter ounce AGEs, and 2,000 one half ounce AGEs. Together with the 11,000 one ounce American Gold Eagles sold in November, the U.S. Mint sold a total of 45,000 American Gold Eagle coins in various denominations representing 15,500 ounces of gold. In October 2016, the U.S. Mint sold a total of 116,000 ounces of gold in the form of American Gold Eagle coins.
The U.S Mint also sells gold in the form of one ounce American Gold Buffalo coins.
Sales of American Gold Eagles soared in the aftermath of the financial crisis of 2008-2009, but had fallen off in recent years as the U.S. Mint began to selling record amounts of American Silver Eagles the past three years. The trend of declining American Gold Eagle sales reversed in the second half of 2015, while sales of American Silver Eagles continue to sell at record levels. Sales of American Gold Eagle coins in 2016 had their best year since 2013.
Sales of American Gold and Silver Eagles started off strong in January of 2017, but have fallen dramatically during the year. Demand for Perth Mint gold and silver as well as retail demand for gold and silver in India and China, however, has been robust all year.
Decreased Retail Sales of Gold in 2017
An increased interest in gold in 2016 made gold one of the best performing financial assets through June 2016. In the fall of 2016, however, gold prices fell, but still ended the year up nearly 10%. As prices fell towards the end of the year, a buying frenzy ensued at the U.S. Mint from September to November of 2016. Gold sales began 2017 strong but have tailed off, despite a relatively stable and rising gold price during the year.
Sales of one ounce American Gold Eagle Coins 1986-2017
One Ounce American Gold Eagle 2017 Sales Projection
As of the end of October 2016, U.S. Mint has sold 181,000 one ounce American Gold Eagle coins in 2016, down 77% from 775,500 sold from January – October 2016.
If sales of one ounce American Gold Eagle sales average 18,100 a month (181,500 one ounce gold eagles sold through October, divided by ten) the rest of the year, sales will be about 215,000 one ounce AGE’s in 2017 or about 74% lower than the 817,500 one ounce AGEs sold in 2016. The U.S. Mint from time to time halts sales at the beginning or middle of December. If they do so this year, sales will most likely not reach 200,000.
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.
American Gold 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.