Demand is lower for bullion coins? Poppycock. US Mint sales figures released Wednesday say otherwise.
Marking the third best month of a record setting pace year, demand in June for American Eagle Gold and Silver Bullion Coins jumped aggressively over May.
Silver eagle sales soared in June, rising 340,500 higher than May figures. 2,245,000 silver bullion eagles were sold. The total is now 13,824,500 for an annualized rate that is easily on track to smash last year’s 20,583,000 record. Read the rest of this entry »
The US Mint on Monday ended the allocation process which limited the number of gold and silver American Eagle bullion coins authorized dealers could order. Ironically, as of Monday also, week-over-week sales soared 8.1 percent for the silver eagles and 9.1 for the gold eagles.
Even with the latest surge, the Mint is apparently confident that enough silver and gold blanks are on hand that rationing is no longer needed — at least in the near term.
And with that, a buzz of excitement immediately begins with collectors now wondering whether the Mint has sufficient inventory to begin producing the previously suspended 2009 collector proof and uncirculated versions. Of that, no word has yet been given. Read the rest of this entry »
Demand for 2009 Eagle Gold Bullion Coins has declined to the lowest level of the year, but sales still recorded the 5th best May ever for a series that dates back to 1986. Further, 2009 continues to be the strongest year of sales for the bullion coins since the Y2K safe-haven buying in 1999.
Gold Eagle Bullion Coin Sales in May (1986-2009)
The US Mint reported selling 65,000 American Eagle Gold Bullion coins in May. Historically, the month has never been exceedingly strong for the series, and 2009 is no different despite its record start. Sales dropped by more than half compared to April, which was the best performing month of the year with 147,500 eagles sold. Still, May trailed only behind same month sales in 2004, 1999, 1998, and 1987. Read the rest of this entry »
2009 American Eagle Gold Bullion Coin sales are off to the quickest start in ten years and have recorded the third best performance since the series began in late 1986, according to the latest United States Mint coin sales statistics.
Eagle Gold Bullion Coin Sales Total, Jan-Apr (1986-2009)
From January through April, the US Mint has sold 489,500 eagle gold coins to its authorized dealers. That trails only behind the Y2K explosion of safe haven buying of bullion in 1999, and then the inaugural leading months in 1987 after the coins were first introduced. (The Mint sold 855,000 ounces of bullion gold coins in the first four months in 1999 and 570,000 in same months in 1987.) Read the rest of this entry »
The US Mint’s recent actions to temporarily suspend production of collectible 2009 gold and silver American Eagle coins in order to produce their bullion counterparts is, to say the least, annoying to many coin collectors. Worst of all, it could be many months before the collector coins are offered since bullion coin sales are off to their quickest pace in 10 years.
The collector community may be able to empathize somewhat by stepping back from emotion over the Mint directives and instead focus on the reality — and the biggest angst that has driven many recent Mint decisions, the "unprecedented demand" for gold coins.
Yes, the Mint’s use of the word unprecedented in many of its communications is perhaps too strong a term. The writing pens of attention seeking bloggers and the conspiracy minded get hot. They correctly point out that larger demand for gold coins was met in past years without any coin suspensions, but then "gotcha" finger pointing and the trendy come lately Mint-bashing generally ensues. Read the rest of this entry »
Proof and uncirculated 2009 American Eagle Gold Coins are temporarily suspended, the United States Mint is now announcing in the latest statement from its online store.
The coins are struck for collectors and include the "W" mintmark, unlike the 2009 bullion versions intended for investors — although many coin collectors purchase them — and already available through the Mint’s authorized purchasers, coin dealers and precious metals sellers.
Unprecedented demand for gold coins
The announcement comes just days after the 2009 silver eagles suspension, and before any of the coins were ever placed on sale. Just like the silver eagle statement found on the US Mint’s store, "unprecedented demand" was given as the reason, which has forced the Mint to focus on its mandated requirement to provide bullion coins. Read the rest of this entry »
US Mint sales of 1/2 oz uncirculated 2008-W American Eagles gold coins surged from the last report, rising an impressive 104.5 percent. The coin was the final remaining 2008-dated gold eagle from the Mint until it sold out Wednesday.
49,788 Ultra High Relief Gold coins have been sold. Sales increased 3.7 percent since the prior report, but the pace has slowed somewhat. 1,789 were purchased by collectors compared to the previous 2,579.
Lincoln Silver Dollars jumped again. Proof versions went up to 159,634 while the uncirculated option hit 75,614. The US Mint first offered the commemoratives on Thursday, Feb. 12.
Here are the latest US Mint sales figures for the recently sold out American Eagle and the currently sold Ultra-High Relief and Lincoln Commemorative coins:
Read the rest of this entry »
Wednesday marked the conclusion of 2008-W American Eagle Gold coin sales from the US Mint. The last uncirculated 1/2 ounce version sold out in the morning, and just before gold coin prices increased.
The Mint decided last year that the half-ounce collector coin will not be minted again so it could shift its focus to, among other things, delivering annual collectible coins earlier in the year. Read the rest of this entry »
For those wondering when, if ever, their 2009 Ultra High Relief $20 Double Eagle gold coin would ship from the United States Mint, the answer looks to be sooner versus later, based on a new Mint notice posted at its online shopping center. In fact, the Mint says the coins are now shipping:
Many collectors who purchased the modern day recreation of the famed Augustus Saint-Gaudens’ designed 1907 $20 Double Eagle have expressed strong displeasure with the Mint over the confusion, delay and mystery surrounding their order. The latest announcement may help Read the rest of this entry »
The one-quarter ounce 2008-W Uncirculated Gold American Eagle Coin sold out Thursday and just a day after the one ounce size.
The US Mint price guide reveals 6,203 of the 1/4 oz coins were purchased by collectors, plus the 2,997 included in the 4-coin set. The final tally will likely be reported next week.
Sales had settled down based on the most recent figures. The option showed a 0.6 percent increase following a 48.1 percent surge from the week prior. Read the rest of this entry »
