After years of surging demand, United States Mint precious metals sales have shown signs of weakness throughout 2012. During July, sales levels fell for both of the most popular offerings, the American Gold Eagle and American Silver Eagle.
For each month for the year to date, monthly sales for these two programs have shown a decline compared to the year ago period. In the latest month Silver Eagle sales registered 2,278,000 troy ounces compared to 2,968,000 in July 2011, and Gold Eagle sales accounted for 30,500 troy ounces compared to 64,500 in July 2011. Both figures also reflected declines compared to last month.
It is worth noting that on a longer term basis sales for silver bullion program remain well above average. The average annual sales level for Silver Eagle bullion coins from 1986 to 2011 is 10,813,288 ounces. Sales for the year to date are more than 9 million higher than this amount.
The average annual sales for Gold Eagle bullion coins from 1986 to 2011 is 711,654 ounces. So far, the year to date total has reached 374,000 ounces.
July 2012 US Mint Bullion Coin Sales
|July 2012||YTD 2012|
|American Gold Eagle 1 oz||30,500||313,500|
|American Gold Eagle 1/2 oz||0||56,000|
|American Gold Eagle 1/4 oz||2,000||54,000|
|American Gold Eagle 1/10 oz||15,000||190,000|
|American Gold Buffalo 1 oz||4,000||79,000|
|American Silver Eagle 1 oz||2,278,000||19,670,000|
|America the Beautiful Silver 5 oz||18,600||40,200|
One bright spot for United States Mint bullion sales was seen for the America the Beautiful Five Ounce Silver Coins. During the month, a total of 18,600 coins were sold, accounting for 93,000 ounces. Although this pales in comparison to the numbers for the Silver Eagle, it does represent the highest monthly sales total for the program this year.
The driver of the higher sales was the release of the latest design in the series featuring Acadia National Park, which went on sale to authorized purchasers on July 30. (See release dates for this year’s other releases.) Orders were quickly placed for 9,900 of the new coins, representing more than half of program sales for the month.