Gold, Silver Dive in Quarter; US Coin Sales Surge in June

Fine Gold Bar and Gold Nuggets
Metals dropped in June and for the quarter. US Mint bullion coin sales soared.

Most precious metals fell on the last trading day in June, deepening declines for the month, second quarter and through the first half of the year.

Gold for August delivery shed $7.20, or 0.6%, to close at $1,171.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price was the lowest since June 5.

"Gold prices ended the U.S. day session low and hit a three-week low Tuesday. The deteriorating Greek debt crisis has so far failed to roil world markets, or support safe-haven gold," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A stronger U.S. dollar index on this day and the continued bearish technical posture for gold also had the sellers in firm control Tuesday."

Gold prices logged losses of 1.5% in June and 1% for both the second quarter and first half of 2015.

Silver for July delivery fell 11 cents, or 0.7%, to close the day at $15.58 an ounce. Silver prices tumbled 6.7% on the month but they are off just 0.1% through the first half of the year. They ended last year at $15.60 an ounce.

In PGM futures on Tuesday and for the month:

  • October platinum lost $2.80, or 0.3%, to $1,079.50 an ounce, sliding 2.9% in June.

  • Palladium for September added $6.20, or 0.9%, to $672.65 an ounce, but tumbled 13.4% for the month.

Quarterly losses lassoed in at 5.6% for platinum and 8.5% for palladium. In the January to June period, platinum fell by 10.8% and palladium declined by 15.8%.

London Precious Metals Prices

Earlier fixed London precious metals prices changed modestly for the day. In comparing London bullion prices from Monday PM to Tuesday PM:

  • Gold dipped $5, or 0.4%, to $1,171 an ounce,
  • Silver gained 6 cents, or 0.4%, to $15.89 an ounce,
  • Platinum shed $3, or 0.3%, $1,078 an ounce, and
  • Palladium added $4, or 0.6%, to $677 an ounce.

As for the second quarter, declines totaled 1.3% for gold, 4.3% for silver, 4.5% for platinum and 7.1% for palladium. And finally, for the year so far, London bullion prices fell by 2.4% for gold, 0.5% for silver, 10.9% for platinum and 15.2% for palladium

US Mint Bullion Coin Sales in June

U.S. Mint bullion sales are yet to close officially for the month, although they are not expected to change. Demand surged for both gold and silver coins. will publish a more detailed analysis later, but in summary:

  • American Eagle gold coins jumped 76,000 ounces in June to more than triple sales of 21,500 ounces in May. The monthly increase is the second highest this year; right behind January’s 81,000 ounces. Sales for the year so far at 273,000 ounces are 7,000 higher than sales through the first half of 2014.

  • American Eagle silver coins rallied by 4,840,000 to more than double sales of 2,023,500 in the previous month. The monthly gain was also the best since sales of 5,530,000 in January. Silver Eagle sales for the first half of 2015 hit 21,786,000. Last year when the annual American Silver Eagle sales record was set at above 44 million, the coins reached 24,128,500 through the first half of 2014.

  • American Buffalo gold coins jumped 21,000 for the month compared to the prior month’s showing of 9,500. The monthly total falls behind January’s 34,500. For the year to date, sales are at 96,500, which is down from last year’s six-month start of 111,500.

  • America the Beautiful Five Ounce Silver Bullion Coins advanced 35,000 in June — all happening last week with the release of the Blue Ridge Parkway coin. It temporarily sold out on the same day it launched.

Below is a listing of U.S. Mint bullion products that shows the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday Sales Last Week Current Week May Sales June Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 6,000 12,500 12,000 13,500 62,500 198,500
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 1,000 3,000 4,000 36,000
$10 American Eagle 1/4 Oz Gold Coins 2,000 0 4,000 10,000 12,000 70,000
$5 American Eagle 1/10 Oz Gold Coins 5,000 20,000 10,000 40,000 85,000 390,000
$50 American Buffalo 1 Oz Gold Coins 1,500 3,500 5,000 9,500 21,000 96,500
$1 American Eagle 1 Oz Silver Coins 0 1,090,000 1,150,000 2,023,500 4,840,000 21,786,000
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins*   12,000 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins** 35,000   N/A 35,000 35,000


**The Blue Ridge Parkway bullion coin temporarily sold out on the day of its launch, June 22.

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Doesn’t look like panic over a Greek exit of the Euro.