Sales of American Gold Eagle Coins Topped 237,000 in November.
Through November 2016, American Gold Eagle Sales Were at 936,000 ounces.
Gold sales at the U.S. Mint have been surging since September when sales of one ounce American Gold Eagle coins were 79,000 up from 50,000 in August. Sales of one ounce American Gold Eagle coins spiked 287% in October year over year to 100,500.
In November, sales of one ounce American Gold Eagles increased to 110,000, the highest total of 2016 and the largest amount sold since July 2015..
November sales of one ounce American Gold Eagles were up 37% from November 2015’s sales of 80,500.
Total Coins Sold Attributable to American Gold Eagles Were 237,000 Coins in November 2016
In November 2016, the U.S. Mint also sold 105,000 one tenth ounce AGEs; 16,000 one quarter ounce AGEs, and 6,000 one half ounce AGEs. Together with the 110,000 one ounce American Gold Eagles sold in November, the U.S. Mint sold a total of 237,000 American Gold Eagle coins in various denominations representing 127,500 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 have 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 are on track for their best year since 2013.
November Sales of One ounce American Gold Eagle Coins 1986 – 2016
Increased Interest In Gold in 2016
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. The lower prices set off a buying frenzy at the U.S. Mint from September to November. While U.S. Mint gold sales have increased year over year, they are far from the manic sales of 1998-1999 and 2009 and 2010 when well over a million one ounce American Gold Eagle coins were sold each year. U.S. gold investment has increasingly taken the form of gold exchange traded funds (ETFs) or other non-physical gold products. In eastern countries like China, India and Russia, increased gold demand has been in the form of physical gold bullion, due in part to lack of trust in financially traded investment vehicles.
Sales of one ounce American Gold Eagle Coins 1986-2016
One Ounce American Gold Eagle 2016 Sales Projection
As of the end of November 2016, U.S. Mint has sold 775,500 one ounce American Gold Eagle coins in 2016, up from 625,500 or 21% sold from January – November 2015.
If sales of one ounce American Gold Eagle sales average 70,500 a month (775,500 one ounce gold eagles sold through November, divided by eleven), sales will be about 850,000 one ounce AGE’s in 2016 or about 36% higher than the 626,500 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 850,000.
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.