Although the United States Mint’s gold and silver bullion sales receded from the exceptionally strong levels seen in April, the monthly sales for May handily exceeded year ago levels. The lower market prices for gold and silver continue to result in higher demand for physical precious metals.
During May 2013, sales of the popular one ounce American Silver Eagle bullion coins reached 3,458,500. This was a decline compared to the prior month when 4,087,000 coins were sold. However, it represented an increase of 20.3% compared to the year ago period when sales were 2,875,000.
The monthly sales total for Silver Eagles still may not be a reflection of total overall demand for the coins. The US Mint continues to conduct sales under their allocation program, which rations the available supplies amongst authorized purchasers. In January an initial burst of demand was strong enough to exhaust the Mint’s entire inventory of coins. After an eleven day suspension, sales had resumed under a rationed basis and have remained so through the current date.
Year to date Silver Eagle bullion sales have now reached 21,768,500.
May 2013 US Mint Bullion Coin Sales
|May 2013||YTD 2013|
|American Gold Eagle 1 oz||61,500||495,500|
|American Gold Eagle 1/2 oz||2,000||42,000|
|American Gold Eagle 1/4 oz||6,000||78,000|
|American Gold Eagle 1/10 oz||60,000||360,000|
|American Gold Buffalo 1 oz||12,500||144,500|
|American Silver Eagle 1 oz||3,458,500||21,768,500|
|America the Beautiful Silver 5 oz||25,800||88,900|
American Gold Eagle sales accounted for 70,000 troy ounces during May 2013. Most of the sales were attributable to the one ounce size, followed by the tenth ounce, quarter ounce, and half ounce coins. The monthly sales were down from the prior month when an astounding 209,500 ounces had been sold, but up by 32.1% from the year ago period when sales had reached 53,000 ounces.
The one-tenth ounce sized Gold Eagle bullion coins spent most of the month under a sales suspension. The US Mint had halted sales on April 22, 2013 when strong demand had exhausted their inventory. Sales were finally resumed on May 28 and reached 60,000 by the end of the month.
For the year to date, Gold Eagle bullion sales have now reached 572,000 ounces across all options.
The US Mint began sales of the first 2013 America the Beautiful Five Ounce Silver Bullion Coins during the month. Orders have been placed for 25,800 of the first design featuring White Mountain National Forest. This amount already exceeds the sales levels for each of the five designs released during 2012.
Sales of the 24 karat American Gold Buffalo coins were relatively muted for the month, reaching 12,500 ounces.