Sales of American Gold Eagle Coins in February Soar Year Over Year
The U.S. Mint sold 67,500 one ounce American Gold Eagle coins (AGE’s) in February 2016. This reflects a 440% increase over sales of one ounce AGE’s in February last year (when 12,500 were sold).
In February 2016, the U.S. Mint also sold 100,000 one tenth ounce AGEs (up 100% from 50,000 sold in February 2015); 12,000 one quarter ounce AGEs (up from 0 sold in February 2016), and 6,000 one half ounce AGEs (up 200% from 2,000 sold in February 2016).
Total Ounces of Gold Sold Attributable to American Gold Eagle Coins Was Up 351% in February 2016 Over February 2015
Total sales of American Gold Eagle coins in February 2016 were 185,000, representing 83,500 ounces of gold, up 187% from 64,500 AGEs sold in January 2015 and up 351% from 18,500 ounces in February 2015.
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.
The 440% increase in February 2016 American Gold Eagle sales from February 2015, reflects less a blow out sales month in February 2016, than a very poor sales month in February 2015.
February sales of one ounce American Gold Eagle Coins 2007 – 2016
An increased interest in gold in 2016 has made gold the best performing financial asset through February 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.
Sales of one ounce American Gold Eagle Coins 1986-2015
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.
One Ounce American Gold Eagle 2016 Sales Projection
Year to date the U.S. Mint has sold 156,500 one ounce American Gold Eagle coins, up from 63,000 sold from January – February 2015.
If sales of one ounce American Gold Eagle sales average 78,250 a month (156,500 one ounce gold eagles sold through February, divided by two), sales will be well over 900,000 one ounce ASE’s in 2016.
Did you know? 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
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