Demand for Bullion 2010 Gold American Eagles climbed in July over June, owing mostly to a renewed interest in the one ounce coins. Conversely, sales of the smaller or fractional gold coins dropped drastically.
The United States Mint experienced a rush of orders for the fractional Gold Eagles on June 10 when they were first released to its network of authorized purchasers. Prior to that, buyers were only able to obtain the 1 oz coins which have been available all year long (although 2010-dated coins were only issued beginning January 19).
The debut month for 2010 fractionals saw 355,000 ordered, with the majority of them 1/10 ounce sizes. By comparison, July fractional dropped to 34,000 coins, or less than 10 percent of what had been ordered in June.
Investors and collectors targeted in on the one ounce Gold Eagle coins again, with authorized buyers snatching up 147,500 in July. While not the best month in 2010, it ranks second behind a record May when 190,000 were sold — the highest level since June 1999.
For the year, through July, the U.S. Mint delivered 1,155,000 bullion Gold Eagles, totaling 825,000 ounces. This compares to only 756,500 ounces sold during the same time in 2009.
The chart below tabulates the number of coins sold in July as well as the year-to-date sales.
2010 July US Mint Gold Eagle Sales
|July 2010 Total Coins Sold
|July 2010 Total Ounces Sold
|2010 Totals Coins Sold
|2010 Totals Ounces Sold
|One Ounce Gold Eagles
|1/2 Ounce Gold Eagles
1/4 Ounces Gold Eagles
1/10 Ounce Gold Eagles
In addition to bullion coins, the Mint usually makes available collector proof and uncirculated American Gold Eagles. Both numismatic coins were cancelled last year due to the overwhelming demand for the bullion versions, and the lack in supply of gold blank planchets. This year’s continued demand could result in another year of cancellations. The most recent public statement from the Mint on the subject noted it was:
"Continuing to work with current and potential blank suppliers to increase the supply of silver and gold blanks in amounts that may make it possible to offer the proof and uncirculated versions of American Eagle Silver and Gold Coins in 2010."
The topic was also recently discussed July 20 in a U.S. House of Representatives subcommittee hearing. (Read 2010 Proof Gold Eagle Production Likely?)
Bullion eagles sales have slowed during the first week of August. During that time, the Mint reported selling 12,000 of the 1 oz coins, 500 of the 1/2 oz coins and 1,500 of the 1/10 oz coins.