Sales of American Gold Eagle and American Gold Buffalo Coins Start 2017 With A Bang
Gold sales at the U.S. Mint have topped over 150,000 ounces in 2017 through mid-February. Sales of one ounce American Gold Eagles have already topped 100,000 and sales of American Gold Buffalo coins are near 50,000.
Gold sales at the U.S. Mint were 1,204,500 ounces in 2016. This was the most gold sold at the U.S. Mint since 2010 when 1,429,500 ounces were sold. Gold sales in 2016 at the U.S. Mint were up 15% from 2015 when 1,022,000 ounces were sold.
Perfect First Strike American Gold Eagle and American Gold Buffalo coins are now available from BGASC.com. These coins are graded Mint State 70 (MS-70) by the Professional Coin Grading Service (PGCS). MS-70 is the highest grade awarded by PGCS for uncirculated coins. A grading of 70 means a flawless specimen.
Adding to the value of these MS-70 American Gold Eagles and American Gold Buffaloes is the First Strike designation. PCGS describes the PCGS First Strike program as designating “coins issued in the first 30 days of the Mint’s release. This designation not only adds value to modern coins, but takes modern coin collecting to another level with multiple Mint releases each year.”
About the American Gold Buffalo Coin
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.
Continued Elevated Interest In Gold in 2017
An increased interest in gold in 2016 made gold one of the best performing financial assets of 2016. Gold is generally viewed as a safe haven. Gold sales benefited from the uncertainty created by Brexit, the U.S. Presidential election in 2016 between Donald Trump and Hillary Clinton, the Italian constitutional referendum and the refugee crisis and terrorist attacks in Europe.
2017 has brought a new set of challenges to the international financial community,including the French Presidential election scheduled for this spring. Front runner Marine Le Pen has promised to take France out of the European Union and the Euro and re-denominate France’s currency in Franc, perhaps leading to the biggest sovereign default in history.
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.
This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.