Gold Jumps, 2020 American Silver Eagle Bullion Sales Top 30 Million

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Bullion American Silver Eagles
U.S. Mint sales of bullion American Silver Eagles passed 30 million for the year

Gold and silver gained Monday as platinum and palladium declined. Gold marked a two-week high while silver scored a three-week high.

Up for a fourth time in five sessions, gold for February delivery added $26, or 1.4%, to settle at $1,866 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since Nov. 20.

"There is some keener risk aversion in the marketplace to start the trading week, which prompted a ‘buy-the-dip’ move by the precious metals traders, including some safe-haven demand. The near-term technical postures for gold and silver have significantly improved the past few sessions, which also invited some chart-based buying today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,824.80 to a high of $1,873. They advanced 2.9% last week, snapping a three-week losing streak.

Silver for March delivery tacked on 54.1 cents, or 2.2%, to settle at $24.794 an ounce. The close was silver’s highest since Nov. 16. Silver futures traded between $23.63 and $24.94. They rallied 7.1% last week, also for their first weekly increase in four weeks.

In other precious metals futures prices on Monday:

  • January platinum lost $23.40, or 2.2%, to $1,049.40 an ounce, ranging from $1,014.10 to $1,078.

  • Palladium for March delivery shed $6.50, or 0.3%, to $2,351.30 an ounce, trading between $2,322 and $2,389.50.

Last week platinum surged 11.2% and palladium dropped 3.4%.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold gained $16.95, or 0.9%, to $1,859.95 an ounce.
  • Silver declined 47.5 cents, or 2%, to $23.75 an ounce.

In LBMA results last week, prices fell 0.5% for palladium while they climbed 3.6% for gold, 4.7% for silver and 11.7% for platinum.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Monday by a combined 17,000 ounces in American Eagle and Buffalo gold coins and by 475,000 ounces in American Silver Eagles.

With the day’s gains, American Silver Eagle sales for the year topped 30 million, more than doubling last year’s total of 14,863,500. Annually issued since 1986, the last time sales of the 1-ounce silver coin surpassed 30 million was in 2016 when they reached 37,701,500 coins.

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

US Mint Bullion Sales (# of coins)
Monday Last Week October November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 16,000 12,500 64,500 77,000 22,500 721,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 6,000 4,000 0 68,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 8,000 10,000 0 106,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 25,000 35,000 0 350,000
$50 American Buffalo 1 Oz Gold Coin 1,000 7,500 19,500 23,500 5,500 237,000
$1 American Eagle 1 Oz Silver Coin 475,000 800,000 3,397,000 4,805,000 751,000 30,089,500
America Samoa 5 oz Silver Coin* 0 0 0 0 0 45,000
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 45,000
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 45,000
Marsh Billings 5 oz Silver Coin* 0 0 0 0 0 45,000
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 56,500

 

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Mark D.

The US mint is no longer offering signature required shipments option. The letter carriers often ignore, falsely report signature receipt! Beware: This also applies to non-mint coins and other USPS deliveries. It happened to me today; tracking showed in-person delivery and confirmed signature release. The parcel sat on my front porch for hours!!!

Chas. Barber

A few years ago they left my USM Pd coin ON THE PORCH…wtf

Mark D.

Over the past few years I’ve noticed increasing numbers of false reports from tracking saying there was a in person hand off or signature release from USPS, UPS, FedEX and especially Amazon’s own delivery service. For the record, not blaming the mint (on this), as their news release said, they’re just recognizing that people aren’t getting what they paid for. Wouldn’t it be qreat if they applied the same ethos to coin sales?