September 19, 2014

US Mint Gold and Silver Bullion Coin Sales Surge in January

2013 Gold EagleThe United States Mint’s gold and silver bullion coins have started the year in impressive fashion. The American Silver Eagle recorded the highest monthly sales figure in the history of the program. The American Gold Eagle reached the highest monthly sales in more than two years.

The month of January is typically strong for US Mint bullion sales, driven by strong demand for the newly dated versions of the coins from collectors and dealers. In the case of the Silver Eagle bullion coins, this year the typical seasonal strength was supplemented by pent up demand following three weeks of unavailability. The burst of demand when the 2013-dated coins became available was strong enough to exhaust the Mint’s entire inventory of the coins. This lead to another sales suspension and the resumption of sales on a rationed basis.

American Silver Eagle bullion coins reached total sales of 7,498,000 during the month of January 2013. This exceeds the previous monthly sales record of 6,422,000 achieved in January 2011.

The new monthly sales record is made even more impressive by the fact that the coins were not available for more than half the month. Authorized purchasers were able to place orders from the launch of the 2013-dated coins on January 7 until the temporary sell out announced on January 17. Sales were finally resumed on January 28 and have continued on a rationed basis.

American Gold Eagle bullion coins reached total sales accounting for 150,000 troy ounces of gold. This is the highest monthly sales total for the 22 karat gold bullion series since July 2010. Gold Eagle sales during January 2013 included 124,500 one ounce coins, 17,000 one-half ounce coins, 24,000 one-quarter ounce coins, and 110,000 one-tenth ounce coins.

The US Mint also offers 24 karat American Gold Buffalo and America the Beautiful 5 oz. Silver bullion coins. During January 2013, Gold Buffalo sales reached 72,500 and the ATB 5 oz. Silver coin sales reached 28,960. The latter consisted of only prior year dated coins.

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