Sales of American Gold Eagle Coins Soar in May Year Over Year
After rising to the highest level since September 2015, in April, sales of American Gold Eagles continued their torrid pace with a 378% increase in May. The U.S. Mint sold 64,500 one ounce American Gold Eagle coins (AGE’s) in May 2016. This reflects a 31% decrease over sales of one ounce AGE’s in April 2016 when a 2016 high of 93,500 were sold and a 378% increase from May 2015, when 13,500 were sold.
Total Ounces of Gold Sold Attributable to American Gold Eagle Coins Was Up 256% in May 2016 Over May 2015
In May 2016, the U.S. Mint also sold 60,000 one tenth ounce AGEs (up from 40,000 sold in May 2015); 10,000 one quarter ounce AGEs (even from 10,000 sold in May 2015), and 7,000 one half ounce AGEs (up from 3,000 sold in May 2015). Together with the 64,500 one ounce American Gold Eagles sold in May, the U.S. Mint sold a total of 141,500 American Gold Eagle coins in various denominations representing 76,500 ounces of gold. In May 2015, the U.S. Mint sold a total of 21,500 ounces of gold in the form of American Gold Eagle coins. In April 2016 the U.S. Mint sold 105,500 ounces of gold in the form of American Gold Eagle coins or 29,000 ounces more than were sold in May 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 in 2016 are on track for their best year since 2013.
May 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 May 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 May 2016, U.S. Mint has sold 343,500 one ounce American Gold Eagle coins in 2016, up from 136,500 or up 152% sold from January – May 2015.
If sales of one ounce American Gold Eagle sales average 68,600 a month 343,000 one ounce gold eagles sold through May, divided by five), sales will be well about 825,000 one ounce ASE’s in 2016 or about 32% 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.