Sales of American Gold Eagle Coins Dip in March Year Over Year
After surging 440% in February, sales of American Gold Eagles took a breather in March. The U.S. Mint sold 29,000 one ounce American Gold Eagle coins (AGE’s) in March 2016. This reflects a 57% decrease over sales of one ounce AGE’s in February 2016 when 67,500 were sold and a 17% decrease from March 2015, when 35,000 were sold.
Total Ounces of Gold Sold Attributable to American Gold Eagle Coins Was Down 18.3% in March 2016 Over March 2015
In March 2016, the U.S. Mint also sold 75,000 one tenth ounce AGEs (up from 70,000 sold in March 2015); 4,000 one quarter ounce AGEs (down from 8,000 sold in March 2016), and 1,000 one half ounce AGEs (down from 5,000 sold in March 2016). Together with the 29,000 one ounce American Gold Eagles sold in March, the U.S. Mint sold a total of 109,000 American Gold Eagle coins in various denominations representing 38,000 ounces of gold. In March 2015, the U.S. Mint sold a total of 46,500 ounces of gold in the form of American Gold Eagle coins. March 2016 total gold sales at the US Mint in the form of American Gold Eagle coins were down 8,500 ounces or 18.3% from March 2015.
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.
March 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 the best performing financial asset through March 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 1986-2015
One Ounce American Gold Eagle 2016 Sales Projection
Year to date the U.S. Mint has sold 185,500 one ounce American Gold Eagle coins, up from 99,000 sold from January – March 2015.
If sales of one ounce American Gold Eagle sales average 61,833 a month (185,500 one ounce gold eagles sold through March, divided by three), sales will be well about 740,000 one ounce ASE’s in 2016 or about 18% higher than the 626,500 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.