American Gold Eagle Sales Accelerate in July
U.S. Mint Has sold 42,000 one ounce American Gold Eagle Coins over the past six weeks.
Through July 18, the U.S. Mint has sold 20,500 one ounce American Gold Eagle coins.
Sales of American Gold Eagle coins continue to surge in July. Through mid-July, the U.S. Mint has sold 20,500 one ounce American Gold Eagle coins up 52% from the 13,500 sold during the entire month of July 2017.
The U.S. Mint sold 21,500 one ounce American Gold Eagle coins (AGE’s) in June 2018. This reflects a 438% increase in sales of AGE’s from June 2018 when 4,000 were sold.
Sales of American Gold Eagle coins in May 2018 were up 68.2% from 11,000 sold in May 2017.
April 2018 gold eagle sales were up 14.3% from April 2017 sales.
July marked the fourth month in a row that 2018 sales topped 2017 sales, indicating a turnaround in gold eagle sales.
Sales of one ounce American Gold Eagle coins through the first seven months of 2018 through July 18 were 108,000, down from the 155,500 sold in the first full seven months of 2017.
Rising Gold Sales – Gold Price Fall/Inflation Stirs
American Gold Eagle sales tailed off after the election and inauguration of Donald Trump in late 2016 and early 2017. Gold sales generally pick up when there is economic or political uncertainty or rising inflation. The U.S. economy has fared better than expected since Trump took office, with unemployment at near twenty year lows and wages beginning to rise. Inflation during the first year and a half of President Trump’s first term had remained quiescent, until recently.
While there have been whiffs of geo-political uncertainty (North Korea, Iran and Italy) domestic political uncertainty (Mueller investigation, Democrat outrage of Trump’s meeting with Russian President Vladimir Putin) and economic uncertainty (Deutsche Bank) these situations have not spiraled out of control – yet.
As prices have drifted lower the past six weeks, gold eagle sales have picked up.
Investors buy gold for insurance and speculative gains. The best time to buy gold is before a major event happens or inflation takes off.
Sales of American Gold Eagle Coins
Sales of one ounce American Gold Eagle in January 2018 were a solid 36,000 sold, down, however from 86,500 sold in January 2017 and down from 38,000 sold in December 2017. February, March and April sales of 5,000 and 2,500, 4,000 respectively, were uncharacteristically low compared to recent years’ monthly sales, although April 2018 sales were higher than April 2017 sales. May sales spiked to 18,500. In June, gold eagle sales rose to 21,500 and through July 18, gold eagle sales were 20,500.
The following charts show one ounce American Gold Eagle sales by month (January – June) for the years 1987 – 2018.
Sales of American Gold Eagles were elevated from 2009 – 2016, but fell in 2017 and continued to fall in the first quarter of 2018. American Gold Eagle sales in the second quarter of 2018 increased and have begun the third quarter of 2018 ahead of the third quarter of 2017.
Gold Prices Have Risen Over Ten Years
Until recently, gold prices had traded in a tight range during 2018. Generally gold sales increase when there is price volatility and decline when prices are stable. Gold prices most of 2018 were stable and sales low. As prices have dipped the past six weeks, gold eagle sales have soared.
BGASC.com sells American Gold Eagles at competitive prices. American Gold Eagles are available for sale individually in current dated or random back dated years.
All American Gold Eagle coins are IRA eligible.
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.