November 2010 Gold Eagle Bullion Coin Sales Rise for Third Month

by CoinNews.net on December 5, 2010 · 1 comment

The United States Mint sold more American Gold Eagle bullion coins in November 2010 than in each of the previous three months, with the largest one-ounce size comfortably leading sales.

2010 Gold Eagle Bullion

The fractional one-half and one-quarter ounce sizes doubled their previous monthly performances, but the smallest one-tenth ounce size recorded its worst month since the fractional Gold Eagles launched in June.

US Mint published figures show 112,000 ounces of the 22 karat Gold Eagle bullion coins were sold in November. That easily outpaced the 94,000 ounces in October, the 88,000 ounces in September and the 41,500 ounces in August.

The following table provides a breakout by month and gold coin size — both in total ounces and in the number of coins sold.

2010 Gold Eagle Bullion Coin Sales Totals

(in ounces / number of coins)
Month One
( oz. / # )
Half
( oz. / # )
Quarter
( oz. / # )
Tenth
( oz. / # )
Total
( oz. / # )
January 85,000
85,000
0
0
0
0
0
0
85,000
85,000
February 84,000
84,000
0
0
0
0
0
0
84,000
84,000
March 102,000
102,000
0
0
0
0
0
0
102,000
102,000
April 60,500
60,500
0
0
0
0
0
0
60,500
60,500
May 190,000
190,000
0
0
0
0
0
0
190,000
190,000
June 97,000
97,000
15,500
31,000
11,000
44,000
28,000
280,000
151,500
452,000
July 147,500
147,500
1,000
2,000
500
2,000
3,000
30,000
152,000
181,500
August 39,000
39,000
500
1,000
500
2,000
1,500
15,000
41,500
57,000
September 82,500
82,500
1,000
2,000
1,500
6,000
3,000
30,000
88,000
120,500
October 89,500
89,500
1,500
3,000
500
2,000
2,500
25,000
94,000
119,500
November 107,500
107,500
3,000
6,000
1,000
4,000
500
5,000
112,000
122,500
Total 1,084,500
1,084,500
22,500
45,000
15,000
60,000
38,500
385,000
1,160,500
1,574,500

 

While sales have increased for three consecutive months, levels have been weaker as compared to the same months since 2008 when Gold Eagle bullion demand noticeably shot higher. However, the separation gap shortened last month as highlighted in the following chart showing November sales dating back to the series launch in 1986.

Gold Eagle Bullion Coin Sales: November 1986-2010

Gold Eagle Bullion Coin Sales: November 1986-2010

The difference between last November and November 2009 was 12,000 ounces.

With still one month remaining, 2010 ranks as the sixth best year for the Gold Eagle bullion coins. Year-to-date sales from January through November ended at 1,160,500 ounces. If demand for the bullion pieces continues at the current pace, 2010 will end up as the fourth best year behind 1999 (2,055,500); 1998 (1,839,500); 1986 (1,787,750); and 2009 (1,425,000).

Annual Gold Eagle Bullion Coin Sales: 1986 – November 2010

Annual Gold Eagle Bullion Coin Sales 1986 - November 2010

The 2010 Gold Eagle bullion coin should not be confused with 2010 Proof Gold Eagles which went on sale on October 7. United States Mint bullion coins do not have collector proof finishes and they also do not have the West Point “W” mintmark. Additionally, the Mint does not sell bullion coins directly to the public like it does with proof eagles or other collector coins. Instead, the Mint uses a network of Authorized Purchasers who buy bullion eagles in quantity, and then resell them for a small premium over the current gold spot price.

Companion American Silver Eagles soared last month, capping two monthly increases. It was the best ever month for the .999 fine silver coins. Their sales have already shattered the all-time annual record set in 2009 and the 2010-dated Silver Eagles also earned the all-time mintage record. For more, read the CoinNews.net article about November Silver Eagle sales.

{ 1 comment… read it below or add one }

Koichi Ito December 6, 2010 at 2:30 am

People are buying Gold Eagle Coins as well as Silver Eagle Coins because of rising gold and silver price! There are rumor that Mint might subsitute gold and silver for metals such as Niobium, Tantalum, and Tungsten, if price of gold and silver get too high!!

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