Sales of American Gold Eagle Coins Soar in April Year Over Year
After dipping in in March, sales of American Gold Eagles came roaring back in April. The U.S. Mint sold 93,000 one ounce American Gold Eagle coins (AGE’s) in April 2016. This reflects a 221% increase over sales of one ounce AGE’s in March 2016 when 29,000 were sold and a 296% increase from April 2015, when 23,500 were sold.
Total Ounces of Gold Sold Attributable to American Gold Eagle Coins Was Up 258% in April 2016 Over April 2015
In April 2016, the U.S. Mint also sold 55,000 one tenth ounce AGEs (up from 30,000 sold in April 2015); 14,000 one quarter ounce AGEs (up from 4,000 sold in April 2015), and 6,000 one half ounce AGEs (up from 4,000 sold in April 2015). Together with the 93,000 one ounce American Gold Eagles sold in April, the U.S. Mint sold a total of 168,500 American Gold Eagle coins in various denominations representing 105,500 ounces of gold. In April 2015, the U.S. Mint sold a total of 29,500 ounces of gold in the form of American Gold Eagle coins. In March 2016 the U.S. Mint sold 38,000 ounces of gold in the form of American Gold Eagle coins or 67,500 ounces less than were sold in April 2016.
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 are on track for their best year since 2013.
April 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 April 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 April U.S. Mint has sold 279,000 one ounce American Gold Eagle coins in 2016, up from 122,500 or up 128% sold from January – April 2015.
If sales of one ounce American Gold Eagle sales average 69,750 a month (279,000 one ounce gold eagles sold through April, divided by four), sales will be well about 840,000 one ounce ASE’s in 2016 or about 34% 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.