American Eagle and American Buffalo gold and American Eagle silver
bullion coins lost some of their luster with investors in July, as
sales by the U.S. Mint to its authorized purchasers dropped
significantly from the previous month.
Combined sales of American Eagle 1-ounce, half-ounce, quarter-ounce
and tenth-ounce gold coins in July reached 30,500 ounces, slightly
more than half the number of ounces sold in June. July’s sales did not
include any half-once gold American Eagles.
Through the first seven months of 2012, the U.S. Mint has recorded
sales of 374,000 ounces of American Eagle gold bullion coins, an
average of 53,429 ounces per month.
During the first seven months of 2011, American Eagle gold sales
totaled 640,500 ounces, and went on to reach calendar year sales of 1
The sales of American Buffalo 1-ounce gold bullion coins in July
reached 4,000 coins compared with 10,000 in June. Sales for the first
seven months of 2012 have reached 79,000 coins, down 12,500 coins
compared with the same 2011 period.
Between Aug. 1, 2011, and Aug. 1, 2012, the London PM fix spot price
for one troy ounce of pure gold reached a high of $1,895, on Sept. 5,
2011, and a low of $1,531 on Dec. 29. The Aug. 1, 2012, closing spot
price was $1,599 per troy ounce. Historical closing spot prices on the
London market can be found at www.kitco.com.
American Eagle silver dollar sales in July reached 2,278,000 coins
compared with 2,858,000 in June. Cumulative sales for the first seven
months stand at 19,670,000 pieces, a monthly average of 2.81 million
coins. Maintaining that monthly average would bring the calendar year
2012 sales total to 33.72 million coins, down 14.7 percent from 2011’s
record total of 39,868,500 coins.
Between Aug. 1, 2011, and Aug. 1, 2012, silver reached a high of
$43.29, on Aug. 22, 2011, and a low of $26.16, on Dec. 29. The Aug. 1,
2012, closing spot price was $27.87 per troy ounce.
The U.S. Mint does not directly sell the bullion coins to the
public. The Mint instead sells the 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
Monthly sales totals for American Eagle platinum, gold and silver
bullion coins and American Buffalo gold bullion coins, posted
cumulatively daily at the Mint website at www.usmint.gov, may include coins
dated from more than one calendar year and do not represent mintages
for a particular date. ■