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American Gold Buffalo Sales Stall in March

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The U.S. Mint Sold 1,000 American Gold Buffalo Coins in March.

Low U.S. Mint Gold Sales Belie Ever – Present Financial and Political Risks

March sales of American Gold Buffalo (AGB) coins of 1,000 were the lowest monthly total since February 2011 when no American Gold Buffalo coins were sold. The U.S. Mint reported selling 8,500 one ounce 24K American Gold Buffalo coins March 2017. In February, the U.S. Mint reported selling 3,500 American Gold Buffalo coins.

Decreased sales of gold at the U.S. Mint are in direct contrast to burgeoning gold sales across the globe in China, India, Russia, Germany and Turkey. Given the tense geo-political climate and every increasing global debt estimated to be $233 trillion, lower gold sales at the U.S. Mint are seemingly unfathomable.

2017 American Gold Buffalo Sales

American Gold Buffalo coin sales in 2017 of 99,500 were the lowest annual total since the United States Mint began producing the AGB in 2006. Through March 2018, the U.S. Mint has sold 28,500 American Gold Buffalo Coins.

American Gold Buffalo Sales 2006 - 2018 through March

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Combined sales of American Gold Buffalo and American Gold Eagle coins in 2017 were 402,000, the lowest annual total since 2007.

U.S. Mint Gold Sales 1986 - 2018

Sales of American Gold Buffalo Coins in January 2017 – March 2018

Monthly sales of American Gold Buffalo coins 2017 - 2018

Trump/Mueller Turmoil, Syrian Conflict and Trade Wars on the Horizon

The Presidency of Donald Trump has been threatened by a Special Counsel investigation of Trump/Russian collusion during the 2016 Presidential election. Markets have ignored the potential disruptive impact of this investigation. Earlier this week, the Special Counsel investigation was raised to a new level when Donald Trump’s personal attorney’s office and home were raided. Whether Trump reacts by firing any of the Deputy FBI Director, the Special Counsel or his Attorney General or allows the Special Counsel probe to continue, political uncertainty is certain to remain. In addition, war with Syria is now a possibility as are trade wars between the United States and China and other nations. All these events have the potential to significantly disrupt the financial markets.

In times of financial turmoil, gold historically provides a safe haven. The time to buy gold is always before financial calamity occurs. Gold sales often act as a barometer as to the risks that are present in the market. To date in 2018, U.S. gold sales appear to be severely discounting those risks, while elevated global gold sales indicate a recognition of the risks in the financial markets.

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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.

In 2006, their first year of mintage, 323,000 American Gold Buffalo coins were sold.

American Gold Buffalo coins are IRA eligible.

American Gold Buffalo sales data from USMINT.GOV

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This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.