American Gold Eagle Sales in July Fall From June’s Lofty Levels
Sales of American Gold Eagle Coins Slip in July
Through July 2016, American Gold Eagle Sales Are Up 27% Over Same Time Period Last Year
After a 378% increase in sales of one ounce American Gold Eagle coins in May year over year and elevated sales last month, sales of American Gold Eagles took a breather in July. The U.S. Mint sold 64,500 one ounce American Gold Eagle coins (AGE’s) in May 2016 and 62,500 in June. July’s sales of one ounce American Gold Eagle coins were 30,000.
Total Coins Sold Attributable to American Gold Eagles Were 92,000 Coins in July 2016
In July 2016, the U.S. Mint also sold 50,000 one tenth ounce AGEs; 10,000 one quarter ounce AGEs, and 2,000 one half ounce AGEs. Together with the 30,000 one ounce American Gold Eagles sold in July, the U.S. Mint sold a total of 92,000 American Gold Eagle coins in various denominations representing 38,500 ounces of gold. In June 2016, the U.S. Mint sold a total of 73,500 ounces of gold in the form of American Gold Eagle coins.
The U.S Mint also sells gold in the form of one ounce American Gold Buffalo coins.
Sales of American Gold Eagles soared in the aftermath of the financial crisis of 2008-2009, but have fallen off in recent years as the U.S. Mint began to selling record amounts of American Silver Eagles the past three years. The trend of declining American Gold Eagle sales reversed in the second half of 2015, while sales of American Silver Eagles continue to sell at record levels. Sales of American Gold Eagle coins in 2016 are on track for their best year since 2013.
July Sales of One ounce American Gold Eagle Coins 2007 – 2016
Increased Interest In Gold in 2016
An increased interest in gold in 2016 has made gold one of the best performing financial assets through June 2016. While U.S. Mint gold sales have increased year over year, they are far from the manic sales of 1998-1999 and 2009 and 2010 when well over a million one ounce American Gold Eagle coins were sold each year. U.S. gold investment has increasingly taken the form of gold exchange traded funds (ETFs) or other non-physical gold products. In eastern countries like China, India and Russia, increased gold demand has been in the form of physical gold bullion, due in part to lack of trust in financially traded investment vehicles.
Sales of one ounce American Gold Eagle Coins 1986-2016
One Ounce American Gold Eagle 2016 Sales Projection
As of the end of July 2016, U.S. Mint has sold 436,000 one ounce American Gold Eagle coins in 2016, up from 343,000, or 27% sold from January – July 2015.
If sales of one ounce American Gold Eagle sales average 62,285 a month (436,000 one ounce gold eagles sold through July, divided by seven), sales will be about 750,000 one ounce AGE’s in 2016 or about 20% higher than the 626,500 one ounce AGEs sold in 2016
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.