The latest United States Mint bullion coin sales figures have been released and the stats show authorized buyers purchased 84,000 American Eagle Gold coins during February 2010, which was 1,000 less than the prior month.
Atypical from other years is that the tally includes both 2009 and 2010-dated coins. This year was the first time in the U.S. Mint's history of selling the gold coins that a current year's eagles were not offered during the first week of January. Exceptional demand for the eagles in 2009 resulted in a delayed release of 2010s.
The 84,000 total makes last month the fifth best February ever for the gold series that dates back to 1986, but the level is below the output from 2009. Better same month sales include:
The United States Mint released 2010 American Eagle Gold One Ounce Bullion Coins to its network of authorized buyers one month ago. Sales on that day, January 19, 2010, were brisk with 30,500 sold in the first twenty-four hours.
The numbers have since remained relatively steady, but not out-of-the-park impressive. The latest US Mint figures indicate 151,000 eagles have been drawn from their inventory. 54,500 more will need to be scooped up by month's end to match January and February totals from 2009.
The price of gold is affecting demand, and seller inventory levels. The yellow metal premiered at just above $1,120 to start 2010. Prices rose to over $1,150 within the first week, but then retreated toward $1,058 by early February. Gold has since returned to the $1,120 area. Both buyers and sellers have been cautious given gold's volatility. As a prime example, less than one hundred 2010 American Gold Eagles have been auctioned on eBay US. It is sketchy at best to scrutinize the eagles too deeply with so few sold, but the numbers are nevertheless worth noting.
The United States Mint has closed out the month of January, publishing strong sales figures for its precious metals bullion coins.
American Eagle Silver Bullion Coin demand hit a record pace. Interest in American Eagle Gold Bullion Coins was elevated, reaching the top ten in all-time January sales. The numbers are more than interesting considering several factors, including New York gold prices falling 1.1 percent in January and silver prices plunging 3.9 percent.
Silver Eagle sales tallied up to an amazing 3,592,500, making it the best January ever for the one ounce silver coins. In comparison, only two months in the history of the program have ever seen numbers topping the 3 million mark. The most recent was March of last year with 3,132,000. The all-time leading month is December 1986 at 3,696,000 -- the first full month in which the coins were available under the new American Eagle Bullion program.
2009 Fractional American Gold Eagle bullion coins are in the history books with leading sales figures, despite their late launch and quick sell out.
Having only been released on Dec. 3, 2009, the coins in the fractional sizes of one-half ounce, one-quarter ounce, and one-tenth ounce weights recorded smashing release day sales -- 345,000 were sold for a total of 58,000 ounces of gold.
On the very next day, the United States Mint announced that the supply of the smallest size was depleted, and that the other two sizes were nearly exhausted. It offered the remaining bullion coins in an allocated process, and then suspended sales until the final 2009 inventory was produced from available in house blank supplies.
The Mint started reselling these on Monday, Dec. 14. In just over a week, the mintages of the 1/2 oz and the 1/4 oz weights nearly doubled. All the fractional coins completely sold out. The final sales figures follow:
2010 American Eagle Gold and Silver One Ounce Bullion Coins will go on sale beginning January 19, 2010, the United States Mint told its authorized purchasers on Tuesday.
In what can be described as roller-coaster of availability due to enormous demand for 2009 bullion Eagles, this news comes as an affirmation of at least an attempt by the US Mint to keep supplies available. The Mint, however, also states that the allocation process will be in place upon their introduction.
This is not surprising to most as the Gold and Silver Eagles have seen temporary suspensions this year and were under allocation through most of the first half of 2009. The most recent suspensions happened only last month, and the return of the one-ounce bullions was not seen until recently.
Fractional Gold Eagles also saw excitement. After having been in a release holding pattern for much of the year, the Mint issued 1/2, 1/4, and 1/10 oz sizes on December 3, 2009 to record sales. In a single day, the Mint recorded transactions bringing the numbers to a level near what was sold in all of 2008.
A week after announcing the inventory depletion and temporary suspensions of 2009 American Gold Eagle bullion coins, the United States Mint today provided follow-up information on the return of the one ounce and fractional sizes, as well as an update for how long they will available.
Fractional Gold Eagles in 1/2 oz, 1/4 oz and 1/10 oz sizes will be released on Monday.
"The additional limited quantity of 2009 American Eagle Gold Half-Ounce, Quarter-Ounce and Tenth-Ounce Bullion Coins will be offered via the United States Mint standard allocation process on Monday, December 14, 2009," said U.S. Mint Director of Public Affairs Tom Jurkowsky.
Jurkowsky said that "no additional inventory will be produced" after the supply of these coins are depleted.
The US Mint ran out of one ounce 2009 American Gold Eagle coins last week which caused their temporary suspension, and now the fractional sizes that were just launched are either gone or being allocated following record one-day sales.
The demand for American Eagle coins is straining inventory, forcing the US Mint to send out another notice to its customers:
Due to strong demand, the "American Eagle Gold Tenth-Ounce Coin inventory was depleted. The inventory for the half-ounce and quarter-ounce coins remains very limited," the US Mint stated today in a memorandum to authorized purchasers. "We will offer the remaining half-ounce and quarter-ounce coins for sale via the United States Mint standard allocation process."
The US Mint released the Eagle Gold Bullion Coins in one-half ounce, one-quarter ounce, and one-tenth ounce weights on Thursday. On that single day, 345,000 coins were sold for a total of 58,000 ounces of gold. The following two tables list the latest 2008 and 2009 sales figures as provided by the US Mint:
Fractional 2009 American Eagle Gold Bullion Coins were released today and initial reports by the US Mint show they are on fire, with sales already approaching totals from all of 2008.
Spurring demand are bullish gold prices. The yellow metal was driven to another record of $1,227.50 an ounce in New York on Thursday, marking a third straight day of all-time highs. Gold has now closed at a fresh high for the 20th trading day since Nov., and is up 38 percent this year.
Last week's US Mint suspension of the one-ounce size due to "strong demand" and a "depleted" inventory also helped the fractionals.
As announced in early Oct., the US Mint released the Eagle Gold Bullion Coins in one-half ounce, one-quarter ounce, and one-tenth ounce weights. Together, the Mint sold 345,000 coins to its authorized purchasers for a total of 58,000 ounces of gold. That, without a single one-ounce size leaving Mint doors.
Gold prices are ablaze. The yellow metal in New York on Monday hit a new all-time record of $1,174 an ounce, rising for a straight seven days.
During that same time frame, demand for 2009 American Gold Eagle bullion coins shot up as well. The latest United States Mint sales figures show another 46,000 of the one-ounce gold coins were sold to Mint authorized purchasers from Monday, Nov. 16, to Monday, Nov. 23.
That overshadows the prior seven day sales of the 31,500 reported on the 17th, the 29,000 cited on the 10th, and the 39,000 reported on the 3rd. November has been a bullish month. 106,500 have left US Mint inventories, bringing the year-to-date total to 1,176,000. By comparison, 860,500 ounces of Gold Eagle bullion coins were sold in all of 2008.