U.S. Mint Sold 18,500 one ounce American Gold Eagle Coins in May.
Gold Eagle coin sales jumped 363% month over month and 68% on a comparable year basis.
The U.S. Mint sold 18,500 one ounce American Gold Eagle coins (AGE’s) in May 2018. This reflects a 363% increase in sales of AGE’s from April 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.
May marked the second month in a row that 2018 sales topped 2017 sales, perhaps indicating a turnaround in gold eagle sales.
Sales of one ounce American Gold Eagle coins through the first five months of 2018 were 66,000, down from the 138,000 sold in the first five months of 2017.
Lower Gold Sales – Blame Trump?
American Gold Eagle sales have tailed off since 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 so far while stirring has remained quiescent.
While there have been whiffs of geo-political uncertainty (North Korea, Iran and Italy) domestic political uncertainty (Mueller investigation) and economic uncertainty (Deutsche Bank) these situations have not spiraled out of control – yet.
Investors buy gold for insurance and speculative gains. The best time to buy gold is before a major event happens.
Sales of American Gold Eagle Coins
American Gold Eagle sales 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.
Given that gold sales from Germany, to Turkey to India, to Russia to China, continue to be strong in 2018, low U.S. Mint gold sales are puzzling. Sales of gold at the Perth Mint also remain strong in 2018.
The following charts show one ounce American Gold Eagle sales by month 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 the first two months of the second quarter of 2018 have increased.
Gold Prices Have Risen Over Ten Years
Gold prices have traded in a tight range during 2018. Generally gold sales increase when there is price volatility and decline when prices are stable. Gold prices in 2018 year to date are down about $5 or 0.40%.
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.