US Mint Bullion Sales: Gold and Silver Eagles Well Above Prior Year Levels

After breaking a record for monthly sales in the previous month, sales of the United States Mint’s American Silver Eagle bullion coins cooled, although levels remain significantly higher than the year ago period. The 2011 American Gold Eagle bullion coins were offered in fractional weights for the first time.

During February 2011, the US Mint recorded sales of 3,240,000 of the one ounce bullion Silver Eagles. This is down nearly 50% from the record 6,422,000 ounces sold during January. However, compared to the year ago period, sales show an increase of 58%. The US Mint did not offer any other silver bullion coin options during the month, although production of the 5 ounce 2011 America the Beautiful Silver Coins is reported to have begun.

Gold bullion coin sales for the month reached 92,500 ounces across all available options. This consisted of 72,500 of the one ounce American Gold Eagles and 20,000 ounces derived from sales of the one-half ounce, one-quarter ounce, and one-tenth ounce versions. The US Mint began selling fractional weight 2011 Gold Eagles for the first time during the month. Sales of the one ounce 24 karat American Gold Buffalo are still yet to begin.

February 2011 US Mint Bullion Coin Sales

For the year to date, Silver Eagle bullion coin sales have now reached 9,662,000. By comparison, during the first two months of 2010, the US Mint had recorded sales of 5,642,500. Gold Eagle bullion sales have reached 226,000 ounces through February 28, 2011, compared to 169,000 ounces in the year ago period.

The price of gold recently traded at a fresh all time high above $1,440 per troy ounce. Silver prices are at a 31-year high above $34 per ounce.