Gold Dips, US Mint 5 Oz Silver Bullion Coins Sell Out

by CoinNews.net on December 11, 2013 · 1 comment

Perry's Victory and Great Basin 5 Oz Silver Bullion Coins

Perry’s Victory and Great Basin 5 Oz Silver Bullion Coins sold out Wednesday

Gold futures pulled back from a three-week high Wednesday, ending down for the first time in three sessions.

Gold for February delivery shed $3.90, or 0.3%, to settle at $1,257.10 an ounce on the Comex division of the New York Mercantile Exchange. The yellow metal traded between $1,252.10 and $1,263.20.

"Prices may find it hard to maintain yesterday’s momentum with Asian demand likely to taper off," Victor Thianpiriya, an analyst at Australia & New Zealand Banking Group Ltd., was quoted by Bloomberg News. "Meanwhile, the clock is ticking down to next week’s FOMC meeting, and the question of whether or not tapering will begin remains."

Gold prices rallied 2.6% over the prior two sessions with Tuesday’s $26.90 gain the biggest since Oct. 7.

Silver for March delivery advanced 4.1 cents, or 0.2%, to close at $20.36 an ounce. Prices ranged from $20.21 to $20.48. The precious metal has advanced 4.3% since it last settled lower on Friday.

In PGM futures, palladium rose for a second day but platinum snapped its two-day winning streak. In prices on Wednesday:

  • January platinum dipped $3.50, or 0.3%, to $1,385.20 an ounce, trading between $1,381.10 and $1,391.70.

  • Palladium for March delivery edged up 10 cents to $738.55 an ounce, ranging from $736.75 to $742.35.

London Fix Precious Metals

London bullion fixings split with silver higher and other precious metals lower. In comparing the Tuesday PM to Wednesday PM London fix prices:

  • Gold fell $5.50, or 0.4%, to $1,260.75 an ounce,
  • Silver tacked on 34 cents, or 1.7%, to $20.39 an ounce,
  • Platinum declined $5, or 0.4%, to $1,388 an ounce, and
  • Palladium shed $1, or 0.1%, to $742 an ounce

US Mint Bullion Sales in December

United States Mint authorized dealers scooped up gold and silver bullion coins. In combined sales Wednesday, gold coins increased by 3,500 ounces and silver coins advanced by 243,500 ounces. In the notable column, all the Mint’s America the Beautiful Five Ounce Silver Bullion Coins have now sold out after the day’s gains of:

  • 2,900 in 2013 Perry’s Victory 5 Oz Silver Bullion Coins
  • 1,400 in 2013 Great Basin 5 Oz Silver Bullion Coins

This year’s other five ounce bullion coins sold out earlier. The Mint has not published specific dates for when it will begin offering any of the five 2014-dated America the Beautiful Five Ounce Silver Bullion Coins. The first one will honor and depict Great Smoky Mountains National Park in Tennessee. It is likely to launch on the same day as the Great Smoky Mountains quarter which is expected out on Jan. 27, 2014.

U.S. Mint bullion sales for the week so far, for the month through Dec. 11, and the year-to-date are listed below.

American Eagle and Buffalo Bullion Sales (# of coins)
Wednesday Sales Last Week Week-To-Date Sales December Sales YTD Sales
$50 American Eagle Gold Bullion Coins 3,500 19,000 6,000 25,000 715,000
$25 American Eagle Gold Bullion Coins 0 0 0 0 58,000
$10 American Eagle Gold Bullion Coins 0 0 4,000 4,000 122,000
$5 American Eagle Gold Bullion Coins 0 15,000 0 15,000 535,000
$50 American Buffalo Gold Bullion Coins 0 1,500 3,000 4,500 236,500
White Mountain 5 oz. Silver Bullion Coins Sold Out 35,000
Perry’s Victory 5 oz. Silver Bullion Coins 2,900 0 2,900 2,900 30,000
Great Basin 5 oz. Silver Bullion Coins 1,400 0 1,400 1,400 30,000
Fort McHenry 5 oz. Silver Bullion Coins Sold Out 30,000
Mount Rushmore 5 oz. Silver Bullion Coins Sold Out 35,000
American Eagle Silver Bullion Coins 222,000 400,000 748,000 1,148,000 42,623,000

 

{ 1 comment… read it below or add one }

Kevin December 12, 2013 at 11:04 pm

And Mt Rushmore P sold out. I picked up an extra one. Guess I’ve always been partial to the movie, North by Northwest, featuring scenes at Mt Rushmore.

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