U.S. Mint 2018 Gold Sales Pull Even With Year To Date 2017 Sales
U.S. Mint sold 17,000 one ounce American Gold Eagle Coins in October.
Through October 29, 2018, sales of gold at the U.S. Mint have nearly equaled sales of gold through the end of October 2017. At one point earlier this year, sales of American Gold Eagles at the U.S. Mint were down 63% from 2017 year over year sales through April and down 52% through May.
The U.S. Mint sold 17,000 one ounce American Gold Eagle coins (AGEs) in October 2018, up 55% from the 11,000 sold in October 2017.
Sales of one ounce American Gold Eagle coins through the first ten months of 2018 through October were 168,000, down 7.1% from the 181,000 sold in the first ten months of 2017. Nearly 73% of 2017’s American Gold Eagle total sales occurred in January and December 2017 when 86,500 and 38,000 American Gold Eagles were sold, respectively.
Sales of 1/10,1/4, 1/2 and one ounce American Gold Eagles through the first ten months of 2018 totaled 216,500 ounces down 12.5% from 247,500 ounces sold through the first ten months of 2017.
When sales of one ounce American Gold Buffalo coins are added to the U.S. Mint gold sales in 2018 through the first ten months of the year, total gold sales have nearly equaled those of 2017 through October. The U.S. Mint has sold 113,000 American Gold Buffalo coins through October, vs 83,500 sold through October 2017. Total gold sold at the U.S. Mint including all American Gold Eagles coins of all denominations and all American Gold Buffalo coins totaled 329,500 ounces through October 2018 vs. 331,000 of gold sold during the first ten months of 2017.
Monthly Sales of American Gold Eagle Coins in 2018
Sales of one ounce American Gold Eagle in January 2018 were a solid 36,000, 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 and July, gold eagle sales rose to 21,500 and 31,500, respectively. Sales of American Gold Eagles fell in August to 17,500 from a mid-year high of 31,500 in July. American Gold Eagle sales fell further in September to 14,500. American Gold Eagle sales rose again in October to 17,000 despite the price of gold rising in October from its September lows.
Investors buy gold and silver for insurance and speculative gains. The best time to buy gold and silver is before a major event happens or inflation takes off.
October 2018 sales of American Gold Eagles increased to 17,000 from 11,000 in October 2017.
Annual Sales of one ounce American Gold Eagle sales 1986 – 2018.
American Gold Eagle sales peaked in 1998 at 1,518,000.
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 gold and silver prices have dipped the past few months, gold and silver eagle sales have increased.
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.