Sales of American Gold Eagle Coins up Nearly 300% in October.
Through October 2016, American Gold Eagle Sales Have Already Surpassed Last Year’s Total.
Sales of one ounce American Gold Eagle coins spiked 287% in October year over year to 100,500. After a 378% increase in sales of one ounce American Gold Eagle coins (AGEs) in May year over year and elevated sales in June, sales of American Gold Eagles took a breather in July. Sales of American Gold Eagles came roaring back in August with a 67% increase over July. In September, sales of one ounce American Gold Eagles increased to 79,000, up 58% from August.
October sales of one ounce American Gold Eagles surged 27% from September’s elevated levels.
Total Coins Sold Attributable to American Gold Eagles Were 185,000 Coins in October 2016
In October 2016, the U.S. Mint also sold 75,000 one tenth ounce AGEs; 16,000 one quarter ounce AGEs, and 8,000 one half ounce AGEs. Together with the 100,500 one ounce American Gold Eagles sold in October, the U.S. Mint sold a total of 199,000 American Gold Eagle coins in various denominations representing 116,000 ounces of gold. In September 2016, the U.S. Mint sold a total of 94,000 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.
October Sales of One ounce American Gold Eagle Coins 1986 – 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 October 2016, U.S. Mint has sold 665,500 one ounce American Gold Eagle coins in 2016, up from 546,000 or 22% sold from January – October 2015.
If sales of one ounce American Gold Eagle sales average 66,550 a month (665,500 one ounce gold eagles sold through October, divided by ten), sales will be about 800,000 one ounce AGE’s in 2016 or about 28% 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.