U.S. Mint Sells 9,500 one ounce American Gold Eagle Coins in November.
Through November 2017, American Gold Eagle Sales Were at 190,500 ounces.
Gold sales at the U.S. Mint have been tepid all year since January when sales of one ounce American Gold Eagle coins were 86,000. Sales of one ounce American Gold Eagle coins fell 14% in November from sales of 11,000 and 93% year over year from 147,500 sold in November 2016.
Total Coins Sold Attributable to American Gold Eagles Were 23,500 Coins in November 2017
In November, the U.S. Mint also sold 10,000 one tenth ounce AGEs; 2,000 one quarter ounce AGEs, and 2,000 one half ounce AGEs. Together with the 9,500 one ounce American Gold Eagles sold in November, the U.S. Mint sold a total of 23,500 American Gold Eagle coins in various denominations representing 12,000 ounces of gold. In November 2016, the U.S. Mint sold a total of 147,500 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.
Low 2017 US Mint sales belie robust global gold demand
Sales of American Gold Eagles soared in the aftermath of the financial crisis of 2008-2009, but had 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 had their best year since 2013.
Sales of American Gold and Silver Eagles started off strong in January of 2017, but have fallen dramatically during the year. Demand for Perth Mint gold and silver as well as retail demand for gold and silver in India and China, however, has been robust all year.
Decreased Retail Sales of Gold in 2017
An increased interest in gold in 2016 made gold one of the best performing financial assets through June 2016. In the fall of 2016, however, gold prices fell, but still ended the year up nearly 10%. As prices fell towards the end of the year, a buying frenzy ensued at the U.S. Mint from September to November of 2016. Gold sales began 2017 strong but have tailed off, despite a relatively stable and rising gold price during the year.
Sales of one ounce American Gold Eagle Coins 1986-2017
One Ounce American Gold Eagle 2017 Sales Projection
As of the end of November 2016, U.S. Mint has sold 190,5000 one ounce American Gold Eagle coins in 2016, down 76% from 794,500 sold from January – November 2016. In most years the United States Mint closes down production and sales of current year Gold Eagles in the first or second week of December. Absent a dramatic surge in demand and the U.S. Mint’s willingness to meet that demand immediately, sales of American Gold Eagles will probably fall below 200,000 in 2017.
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.