Sales of gold at the U.S. Mint fell in August as price of gold rose and the geo-political situation became tense after North Korea fired a missile over Japan. The price of gold rose over $40 an ounce or about 3% from $1270 an ounce on August 1 to $1311 an ounce by the end of the month.
August 2017 American Gold Eagle Sales
The U.S. Mint reported selling 6,500 one ounce 22K American Gold Eagle coins (AGE’s) at the U.S. Mint in August. The U.S. Mint also sold 2,000 one half ounce AGEs (1,000 ounces), 2,000 quarter ounce AGEs (500 ounces) and 15,000 one tenth ounce AGEs (1,500 ounces) in total. Total AGEs of all sizes sold in August 2017 were 25,500 (totaling 9,500 ounces).
August American Gold Eagle sales of 9,500 ounces were down 46% from 17,500 ounces sold in July 2017 and down 84% from 58,500 ounces sold in August 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.
Will 2017 Be a Key Date for American Gold Eagle and American Gold Buffalo coins?
The low 2017 American Gold Eagle and American Gold Buffalo coin sales may make 2017 dated U.S. Mint gold coins semi-rare key date coins.
August 2017 American Gold Buffalo Sales
The U.S. Mint reported selling 3,000 one ounce American Gold Buffalo coins in August, down from 6,000 sold in July and down from 9,000 sold in August 2016.
About the American Gold Buffalo Coin
American Gold Buffalo coins are 24K gold while American Gold Eagle coins are 22K. One ounce American Gold Buffalo coins are slightly smaller and lighter than their one ounce American Gold Eagle counterparts that contain 3% silver and 5% copper mixed in the alloy, bringing the total weight of a one ounce American Gold Eagle coin to nearly 1.10 ounces.
The American Gold Buffalo is the U.S. Mint’s answer to 24K gold coins issued by the Canadian and Austrian Mints. 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 Eagle and Buffalo 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.