Gold Logs 4.5-Month High and 5 Straight Gains; Platinum Eagles Rise

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Silver, platinum and palladium declined in the mid-week training session Wednesday. Gold, meanwhile, marked a fresh four-and-a-half-month high and lifted its winning streak to five in a row.

Gold for June delivery tacked on $13.50, or 0.7%, to close at $1,881.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the best since Jan. 7 when gold ended at $1,913.60 an ounce.

"Safe-haven demand was featured in the yellow metal today as the U.S. stock market sold off and risk appetite in the marketplace waned. The gold market bulls stepped in to buy the overnight dip in prices and do some bargain hunting," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,852.20 to a high of $1,891.30. They edged up 0.02% on Tuesday and they gained 1.6% on Monday.

Silver for May delivery fell 30.8 cents, or 1.1%, to settle at $28.025 an ounce. Silver futures traded between $27.42 and $28.37. They rose 0.2% on Tuesday, for their best finish since Feb. 1, and they soared 3.3% on Monday.

In PGM futures on Wednesday:

  • July platinum lost $23.70, or 1.9%, to $1,201.60 an ounce, ranging from $1,186.30 to $1,228.80.

  • Palladium for June delivery declined $18.30, or 0.6%, to $2,884.80 an ounce, trading between $2,848 and $2,917.50.

US Mint Bullion Sales in 2021

The United States Mint provided updated bullion sales figures for the first time this month.

Gains included 26,400 ounces in American Platinum Eagles; 14,500 ounces in ATB five-ounce silver coins; and a combined 49,500 ounces in American Eagle and Buffalo gold coins. Increases in bullion Platinum Eagles were their first since their release month in March.

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)
Wednesday / May Last Week February Sales March Sales April Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 18,500 0 121,000 55,500 38,500 424,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 9,000 0 0 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 20,000 0 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 55,000 0 150,000
$50 American Buffalo 1 Oz Gold Coin 31,000 0 16,000 33,500 11,000 153,000
$1 American Eagle 1 Oz Silver Coin 0 0 3,191,500 4,087,000 1,053,000 13,106,500
$100 American Eagle 1 Oz Platinum Coin 26,400 0 N/A 35,000 0 61,400
Tuskegee Airmen 5 oz Silver Coin 2,900 0 N/A N/A 50,000 52,900
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Kaiser Wilhelm

It’s rather obvious that compared to the other denominations of the American Gold Eagle the $25 Half-Ounce version seems to get very little respect. With its typically lowest-of-type mintages one might think increased demand for it couldn’t help but kick in over time.

Last edited 23 days ago by Kaiser Wilhelm
Mark D.

It seems that’s already the case, half oz AGEs command a premium over full ozs of some 18 to 20 points! That can’t ALL be blue sky speculation (also have heard from money “experts” that halves, and to a lesser extent quarters, provide bullion value with a sparkling drop of numistic Retsyn…err, value. One could even suggest it’s two, two mint products in one).

Mark D.

Um, maybe that should be, “numismatic.”

Kaiser Wilhelm

This is precisely the news that the Sub-Division of Fairly Advantageous Bionumismatics at the Grand Ducat of PhaicTan Mintlet have been waiting for. The word is now go for their truly ambiguous attempt at grafting a live American Half Eagle to a Bank of Baba Ram Dass Binary Bitcoin.

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Last edited 23 days ago by Kaiser Wilhelm
Mark D.

When I read, “Fake Tan,” I figured it was another epithet for Caligula. Then I saw the pic, now I’m confused…

Bali Hai as in, “There ain’t nothin’ like a dame…”?

Mmm, Retsyn.

Kaiser Wilhelm

Nope, that ain’t gonna happen, as “He who shall not be named” has since been exiled from my thought processes. Separately, as you can see, Bali Hai got excised from my comment simply because Phaic Tan – Sunstroke On A Shoestring is (theoretically) a mainland Southeast Asian nation, one of three in the Jetlag Guidebook series with Molvania – A Land Untouched By Modern Dentistry and San Sombrero – A Land Of Carnivals, Cocktails And Coups being the other two insanely hysterical outings. Pictured below: Baba Ram “Be Here Now” Dass and Timothy “Drop Out, Turn On, Tune In” Leary.

Baba Ram Dass & Timothy Leary.jpg
Last edited 23 days ago by Kaiser Wilhelm
Kaiser Wilhelm

It’s gotten much clearer to me that the Mint favors the APs over us little customers not because of a better profit margin but due to sheer volume sold. In fact, what we pay over Mint cost for what we buy is many times per coin what the APs are charged on their bullion purchases, but the fact that they buy so much more in total clearly serves to tilt the favoritism balance far over to their side. We collectors talk, but the big money walks. And so it always goes.

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