June 2011 Sales of American Gold Eagle Bullion Coins Nosedive

by Mike Unser on July 10, 2011 · 0 comments

2011 American Gold Eagle Bullion Coin

Demand waned sharply for American Gold Eagle bullion coins in June 2011. United States Mint sales of the investment grade coins dropped to 61,500 ounces. The level was the lowest since December 2010 and the weakest month of June since 2008.

While bullion coin sales generally dip during summer months, last month’s total represented a steeper-than-normal 42.5 percent decline from the 107,000 ounces of gold sold in May. And in a stark contrast, companion Silver Eagles scored their best ever June. Their sales were 3,402,000, which was down only 6.9 percent from the previous month.

Available options for the American Gold Eagle include one-ounce, half-ounce, quarter-ounce and tenth-ounce sizes. Buyers preferred the largest of the 22-karat Gold Eagles by a substantial margin. The quarter and tenth-ounce sizes in June actually outperformed their previous May sales. United States Mint gold bullion coin sales by size, month and over the last year follow:

June 2010 – June 2011 Gold Eagle Bullion Coin Sales

(in ounces / number of coins)
Month One
( oz. / # )
Half
( oz. / # )
Quarter
( oz. / # )
Tenth
( oz. / # )
Total
( oz. / # )
June 2010 97,000
97,000
15,500
31,000
11,000
44,000
28,000
280,000
151,500
452,000
July 2010 147,500
147,500
1,000
2,000
500
2,000
3,000
30,000
152,000
181,500
August 2010 39,000
39,000
500
1,000
500
2,000
1,500
15,000
41,500
57,000
September 2010 82,500
82,500
1,000
2,000
1,500
6,000
3,000
30,000
88,000
120,500
October 2010 89,500
89,500
1,500
3,000
500
2,000
2,500
25,000
94,000
119,500
November 2010 107,500
107,500
3,000
6,000
1,000
4,000
500
5,000
112,000
122,500
December 2010 58,500
58,500
500
1,000
500
2,000
500
5,000
60,000
66,500
January 2011 130,500
130,500
500
1,000
500
2,000
2,000
20,000
133,500
153,500
February 2011 72,500
72,500
6,000
12,000
4,000
16,000
10,000
100,000
92,500
200,500
March 2011 60,500
60,500
4,000
8,000
5,000
20,000
4,000
40,000
73,500
128,500
April 2011 94,500
94,500
6,000
12,000
3,500
14,000
4,000
40,000
108,000
160,500
May 2011 93,500
93,500
11,000
22,000
1,000
4,000
1,500
15,000
107,000
134,500
June 2011 56,500
56,500
0
0
2,000
8,000
3,500
35,000
61,500
99,000

 

Year-to-date Gold Eagle sales now stand at 576,000 ounces. The six-month total is down 14.4 percent from the same stretch of time a year ago.

Finally, although sales fell significantly last month and from the same period in 2010 and 2009, June 2011 does compare well over the last twenty-five June’s with a rank of sixth best.

Top 6 June Months for Gold Eagle Sales

YEAR RANK SALES TOTAL
1999 1 216,000
2010 2 151,500
1998 3 148,500
2009 4 116,000
1987 5 75,000
2011 6 61,500

 

The United States Mint also reported 5,500 ounces of American Gold Buffalo bullion coins sold last month, bringing its total gold bullion sales count to an even 67,000 troy ounces. The one-ounce Buffalo is composed of 24-karat, or .9999 fine gold.

The American Gold Eagle was introduced in October 1986 in both bullion and collector versions. The bullion coins are different than the collector proof or uncirculated counterparts. Each is struck in .9167 fine gold and feature the same designs. The collector coins feature a West Point "W" mint mark while the bullion coins do not.

This site’s American Eagle coins page offers an overview on Eagles offered by the United States Mint.


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