Sales of the United States Mint’s gold and silver bullion coins rose in the latest month. The American Silver Eagle rebounded strongly from the previous month, when the lowest monthly sales total of the year was recorded. American Gold Eagles marked their second consecutive monthly sales increase.
The stronger bullion coin sales took place against a backdrop of rising precious metals prices. During October, the price of gold gained more than 3% and traded to a fresh all time high at mid month. The price of silver gained more than 8%.
The following table summarizes US Mint bullion coins sales for October 2010. The first number column represents the total sales for the month, while the second column represents sales for the current year through October 31, 2010. This report includes bullion coin sales only, and does not include numismatic products.
October 2010 US Mint Bullion Coin Sales
|October 2010||YTD 2010|
|American Gold Eagle 1 oz||89,500||977,000|
|American Gold Eagle 1/2 oz||3,000||39,000|
|American Gold Eagle 1/4 oz||2,000||56,000|
|American Gold Eagle 1/10 oz||25,000||380,000|
|American Silver Eagle 1 oz||3,150,000||28,630,500|
|American Gold Buffalo 1 oz||0||209,000|
The American Gold Eagle was available in one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce sizes. Across all options, total sales for the month measured 94,000 ounces. This represents the fifth highest monthly total for the year. Higher sales totals had been recorded in March, May, June, and July.
American Silver Eagle sales jumped to 3,150,000. In the previous month only 1,880,000 of the one ounce silver bullion coins had been sold. The sales total for October represents the fourth highest level of the year after January, March, and May. As of October 31, year to date sales had reached 28,630,000, which is just a whisper away from last year’s record annual sales total of 28,766,500.
The United States Mint did not offer the 24 karat American Gold Buffalo coins during the month. The bullion offering had sold out in September, with no more coins to be offered for the remainder of the year.
Precious metals investors are still awaiting word on the America the Beautiful silver bullion coins. These 5 ounce silver coins will feature duplicate designs of the current quarter series. By law, the US Mint can only offer the coins for sale during the year in which the corresponding quarter is issued. This means that less than two months remain for the Mint to offer this year’s designs featuring Hot Springs National park, Yellowstone National Park, Yosemite National Park, Grand Canyon National Park, and Mount Hood National Forest.