July 2011 Sales of American Gold Eagle Bullion Coins Rise

by CoinNews.net on August 3, 2011 · 0 comments

2011 American Gold Eagle Bullion Coin

More ounces of American Gold Eagle bullion coins left United States Mint doors in July 2011 than during the previous month, owing to a greater exodus of the largest one-ounce version. Last month was one of the better July’s in the 22-karat gold coins’ history.

However, and to the negatives with a backdrop kept in mind in which gold prices surged 8.5 percent in July to hit several records, Gold Eagle sales were not superb when compared against other recent months. The monthly pace was the second slowest in 2011. Also, in comparing similar time frames, total sales remained significantly lower than levels from the same period in 2010 and 2009.

Last month sales of American Gold Eagle bullion coins rose to 64,500 ounces, topping the previous month by 3,000 ounces, or 4.9 percent. But that amount represents a drop of 87,500 ounces, or 57.6 percent, from the same time a year ago, and a reduction of 21,500 ounces, or 25.0 percent, from 2009.

Summer buying activity is normally tepid for all United States Mint bullion coins. The fractionals, which include the American Gold Eagle half-ounce, quarter-ounce and tenth-ounce sizes, were hit hardest in that respect. Their combined monthly totals were the lowest of all in 2011. United States Mint gold bullion coin sales by size, month and over the last year highlight:

July 2010 – July 2011 Gold Eagle Bullion Coin Sales

(in ounces / number of coins)
Month One
( oz. / # )
Half
( oz. / # )
Quarter
( oz. / # )
Tenth
( oz. / # )
Total
( oz. / # )
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
July 2011 61,500
61,500
1,500
3,000
0
0
1,500
15,000
64,500
79,500

 

American Gold Eagle year-to-date sales have reached 640,500 ounces. The seven-month total has fallen 26.1 percent from the same stretch of time a year ago.

In other standings, last month ranked sixth best in terms of comparing sales over the last twenty-five July’s.

Top 6 July Months for Gold Eagle Sales

YEAR RANK SALES TOTAL
1999 1 165,500
2010 2 152,00
1998 3 107,500
2009 4 86,000
1997 5 77,000
2011 6 64,500

 

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 bear 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.

American Gold Buffalo and American Silver Eagle Bullion Coin Sales

United States Mint authorized buyers also snapped up 12,000 ounces of American Gold Buffalo bullion coins during the month. (The one-ounce Buffalo is composed of 24-karat, or .9999 fine gold.) Therefore, the Mint shipped out a combined 76,500 troy ounces of the yellow metal when adding in the Gold Eagles. That compares to the 67,000 troy ounces sold during the previous month.

Additionally, the Mint delivered 2,968,000 ounces of American Silver Eagle bullion coins. The level was down 12.8 percent from June, but it still ranked as the second best ever July and the fourteenth best ever month since their launch, also in 1986.


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