Sales of American Gold and Silver Eagles Off to Strong Start in 2017.
January 2017 American Gold Eagle Sales
The U.S. Mint reported selling 86,500 one ounce 22K American Gold Eagle coins (AGE’s) at the U.S. Mint in January, the seventh best January in the coin’s 31 year history. The U.S. Mint also sold 19,500 on half ounce AGEs (9,500 ounces), 36,000 quarter ounce AGEs (9,000 ounces) and 125,000 one tenth ounce AGEs (12,500 ounces) in January. Total AGEs of all sizes sold in January 2017 were 266,500 (totaling 117,500 ounces).
Increased Interest In Gold in 2016 – 2017
An increased interest in gold, due to uncertainties caused by Brexit and the election of Donald Trump in 2016, made gold one of the best performing financial assets of 2016. Lower prices later in the year set off a buying frenzy at the U.S. Mint from September to early December when the mint shut down production for the year. Strong sales of AGEs continued with the release of the 2017 dated gold coins.
Sales of one ounce American Gold Eagle Coins 1986-2016
2016 American Gold Eagle Sales
In 2016, the U.S. Mint sold 925,000 one tenth ounce AGEs,152,000 one quarter ounce AGEs, and 37,000 one half ounce AGEs. Together with the 817,500 one ounce American Gold Eagles sold in 2016, the U.S. Mint sold a total of 1,968,500 American Gold Eagle coins in various denominations representing 985,000 ounces of gold. In 2015, the U.S. Mint sold a total of 980,000 AGEs representing 801,500 ounces of gold.
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.
January 2017 American Silver Eagle Sales
The U.S. Mint reported selling 5,127,500 one ounce American Silver Eagle coins (ASE’s) at the U.S. Mint in January, the sixth best January in the coin’s 31 year history.
Investment Interest in Silver Eagles Remains Elevated
Sales of American Silver Eagles hit records in each of 2013-2015. In 2015, the U.S. Mint sold 47,000,000 ASEs up from the prior record of 44,006,000 sold in 2014 which was up from a record 42,675,000 sold in 2013.
Sales of American Silver Eagles in 2016 of 37,701,500 were down 20% from 2015’s sales. 2016 ASE sales, however, were the fifth best in the coin’s thirty year history.
American Eagle Silver sales in 2016 went on a roller coaster ride. After the first six months of 2016, American Silver Eagle sales were on pace to smash the 2015 record. After selling an average of more than four million one ounce American Silver Eagle coins (ASEs) during the first six months of the year, the U.S. Mint sales of fell to under two million in each of July, August and September. Sales picked up in the last quarter of 2016 and strong sales continued in January 2017.
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 Gold and 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.