February 2016 American Gold Buffalo Sales Up 58%
Sales of American Gold Buffalo Coins.
The U.S. Mint sold 19,000 one ounce 24K American Gold Buffalo coins in February 2016. This reflects an 58% increase from sales of American Gold Buffaloes in February last year (when 12,000 were sold). February sales of American Gold Buffalo coins were down from 32,000 sold in January 2016.
The 19,000 American Gold Buffalo coins sold in February 2016, were the second highest February total sold since the U.S. Mint began selling the coin in 2006.
In contrast, the U.S. Mint sold 67,500 one ounce 22K American Gold Eagle coins in February.
Sales of American Gold Buffalo Coins in February 2006 – 2016
The Price of Gold In February
According to Kitco, the average spot price of gold in February 2016 was $1199.91 an ounce vs. $1227.19 an ounce in February 2015, or 2.2% lower.
American Gold Buffalo 2016 Sales Projection
If sales of one ounce American Gold Buffalo sales continue at at an average of 25,500 a month. (32,000 sold in January and 19,000 sold in February), sales in 2016 would approach 300,000. The annual record for sales of American Gold Buffalo coins is 323,000 set in 2006, the first year of the coin’s mintage.
Sales of one ounce American Gold Buffalo Coins 2006-2015
Total U.S. Mint February Gold Sales – 102,500 Ounces
When February sales of American Gold Buffalo (19,00 ounces) are combined with American Gold Eagle sales, including one tenth ounce AGEs (10,000 ounces); one quarter ounce AGEs (3,000 ounces),one half ounce AGEs (3,000 ounces) and one ounce AGE coins (67,500 ounces), the total gold sold at the U.S. Mint in February was 102,500 ounces.
In January 2016, the U.S. Mint sold 156,000 ounces of gold across all products.
Did you know?: American Gold Buffalo coins are only minted in one ounce sizes, unlike their American Gold Eagle counterparts which are minted in one ounce, one half ounce, one quarter ounce and one tenth ounce sizes. In 2008, however, the U.S. Mint produced American Gold Buffaloes in one, 1/2, 1/4 and 1/10 ounce sizes. The coins were sold individually and in complete sets.
American Gold Buffalo sales data from USMINT.GOV
This article does not necessarily reflect the explicit views of BGASC, nor should it be construed as financial advice.