Demand for American Eagle gold and silver bullion coins was on the rise in March, with sales to the U.S. Mint’s authorized purchasers nearly tripling and doubling, respectively, from the previous month.
The number of ounces of gold American Eagle bullion coins sold by the U.S. Mint to its authorized purchasers nearly tripled in March over February levels, with silver American Eagle bullion coin sales nearly doubling over the same period.
During the same period, demand for American Buffalo 1-ounce .9999 fine gold $50 coins nearly quadrupled.
During March, the U.S. Mint recorded sales of 62,500 ounces of the .9167 fine gold American Eagles — 57,500 ounces in 1-ounce coins; 1,000 ounces in half-ounce coins (2,000 coins); and 4,000 ounces in tenth-ounce coins (40,000 coins).
No quarter-ounce American Eagle gold bullion coins were sold by the Mint to authorized purchasers in March.
For the first three months of calendar year 2012, the Mint has recorded sales of 210,500 ounces of gold American Eagles — 162,000 ounces in 1-ounce coins, 25,500 ounces in half-ounce coins (51,000 coins), 10,000 ounces in quarter-ounce coins (40,000 coins) and 13,000 ounces in tenth-ounce coins (130,000 coins).
During the first three months of calendar year 2011, the U.S. Mint recorded sales of 299,500 ounces of gold American Eagles across all four weight/denomination sizes. Eighty-eight percent of the total was in 1-ounce coins.
Silver American Eagles
American Eagle silver bullion coin sales reached 2,542,000 coins in March, 70.6 percent higher than in February. Combined sales through March 31 reached 10,139,000 American Eagle silver bullion coins.
During the first three months of 2011, American Eagle silver bullion coin sales totaled 12,429,000 pieces.
Gold American Buffaloes
The number of American Buffalo gold bullion coins sold in March by the U.S. Mint to its authorized purchasers reached 26,000 coins, compared with 7,000 coins in February. Cumulative 2012 sales total 46,500 coins.
During the first three months of 2011, only 38,000 coins were sold, all in March, since no sales occurred in January and February.
The Mint sells bullion coins to a network of authorized purchasers, who acquire the coins from the Mint for the spot price of the precious metal on a given day on the London metals market plus a small premium. The authorized purchasers may then sell the American Eagle and American Buffalo bullion coins to dealers and the public.
Monthly sales totals, posted cumulatively on a daily basis over the Mint’s Web site at www.usmint.gov for American Eagle platinum, gold and silver bullion coins and American Buffalo gold bullion coins, may include coins dated from more than one calendar year and do not represent mintages for a particular date. ■