In April 2011, the United States Mint’s gold and silver bullion coin sales each rose to the highest levels since January. The increase for silver was driven by the initial demand for the 2011 America the Beautiful Silver Bullion Coins. Gold bullion may have experienced higher demand, as the market price reached a series of new all time highs last month.
On April 25, the US Mint began accepting orders from authorized purchasers for the first two designs of the 2011 ATB Silver Bullion Coins. By the end of the month orders had been received for 225,400 of the five ounce coins, accounting for 1,127,000 troy ounces. Sales of the one ounce American Silver Eagle bullion coins were little changed from the prior month at 2,819,000.
Considering both options, silver bullion sales reached 3,946,000 troy ounces. As mentioned, this is the highest monthly sales level since January when 6,422,000 ounces worth of Silver Eagles were sold.
April 2011 US Mint Bullion Coin Sales
|April 2011||YTD 2011|
|American Gold Eagle 1 oz||94,500||358,000|
|American Gold Eagle 1/2 oz||12,000||33,000|
|American Gold Eagle 1/4 oz||14,000||52,000|
|American Gold Eagle 1/10 oz||40,000||200,000|
|American Silver Eagle 1 oz||2,819,000||15,248,000|
|America the Beautiful Silver 5 oz||225,400||225,400|
|American Gold Buffalo 1 oz||20,500||58,500|
Gold bullion coin sales continue to be concentrated in the one ounce size. The one ounce American Gold Eagles sold 94,500 and the one ounce American Gold Buffalo sold 20,500. The additional contribution of 13,500 ounces from fractional weight Gold Eagles brought total sales to 128,500 troy ounces.
In January of this year, gold bullion sales had reached 133,500 ounces. The lowest monthly sales this year occurred in February with 92,500 ounces.
The US Mint has still not offered any platinum bullion coins and the status of this offering remains uncertain. The last time the American Platinum Eagle was available in bullion format was late 2008. The US Mint has struck collector versions of the coin in proof format, for each of the past two years. This year’s proof coin is due to be released later this month.