The United States Mint sold 151,500 ounces of 2010 America Gold Eagles in June, marking the second highest monthly level since 1999 and despite June’s reputation as historically one of the slowest months of the year for bullion coin sales.
June sales trailed behind May’s milestone of 190,000, but the month easily ranked as the second highest of 2010 and, more meaningful, the second best since the sizzling months in 1999 when eagles were purchased at record levels prior to Y2K.
The June 10, 2010 release of fractional Gold Eagles supplemented sales as the 1/2 oz, 1/4 oz and 1/10 oz size joined the one once version that had been available since January 19, 2010. The fractional five-day figures came in at 310,000 coins, amounting to 48,500 ounces of gold.
Demand cooled in the following days as depicted in final June totals shown in the table below, although the U.S. Mint is allocating or rationing their supplies based on its inventory of coin blanks.
2010 American Gold Eagle Sales in Ounces
|1 oz||1/2 oz||1/4 oz||1/10 oz||Total|
|*As of July 2, 2010.|
In number of fractional gold coins sold in June (the above table reflects total ounces sold), Mint buyers ordered 31,000 of the 1/2 oz size, 44,000 of the 1/4 oz size and 280,000 of the 1/10 oz size. Price is clearly a factor, with the more affordable 1/10 oz fractionals far outpacing their brethren. Their sales have already passed the 260,000 sold in 2008 and in 2009.
Mint authorized buyers also picked up 33,500 American Gold Buffalo bullion coins, bringing the Mint’s bullion gold June sales in ounces to 185,000. For the year, Buffalo sales have reached 161,500.
2010 American Gold Buffalo Bullion Sales
|*As of July 2, 2010.|
Unlike the numismatic or collector American Eagles that feature proof or uncirculated finishes and carry the "W" mint mark — which were canceled in 2009 and are still up in the air for 2010, the Mint sells bullion coins for a small amount over the current precious metals spot price and only to a small network of authorized purchasers. These buyers in turn resell the coins to coin dealers, precious metal providers and/or directly to the public.
American Gold Eagles are struck in 22 karat gold while American Buffalo coins are minted from 24 karat gold.