The United States Mint finished off 2016 American Eagle gold bullion
coin sales with its slowest month of the year, but that didn’t prevent
the year-end total from being the highest since 2011.
December saw 29,000 ounces of American Eagle gold bullion coins
sold, a low total likely due to production of the 2016 version of the coin being
halted in November. 2016 sales overall ended at 984,500 ounces.
That tops the previous four years, which featured the following
2015: 801,500 ounces
2014: 524,500 ounces
2013: 856,500 ounces
2012: 753,000 ounces
In 2011, however, the Mint sold 1,000,000 ounces of American Eagle
gold bullion coins.
2016, November was the high month for sales.
The 147,500 total ounces of the gold bullion coins, which range in
weight from one-tenth ounce to an ounce, sold during the month of
November were more than the total ounces sold in any other single
month since July 2015, when 170,000 ounces were sold.
Precious Metals Basics: How does the bullion market work?
Since the start of 2013, only two monthly totals other than July
2015 surpass November 2016 in terms of ounces of American Eagle gold
bullion coins sold — January 2013 and April 2013.
In fact, only nine of the 48 months since the start of 2013 have
posted American Eagle gold bullion coin sales that have surpassed
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Monthly American Eagle gold bullion sales have risen consistently
since July, when only 38,500 ounces were sold. In August, 58,500
ounces were sold. In September, the total was 94,000, and in October
it reached 116,000 ounces.
Will the strong trend continue?
Hard to say. While gold has been a
hot investment throughout most of 2016, the price of gold has
fallen from more
than $1,300 in early November to $1,159 as of Jan. 4, 2017.
The falling value of gold may slow the pace of sales as purchasers
wait for a bottom to be reached. Or it could be that the bottom has
just about been hit, and purchasers will be looking to add gold on the cheap.
Mint officials announced Nov. 30 that production
of 2016 bullion coins had ended, but indicated the Mint would continue
selling remaining inventory until it is depleted.
The Mint will begin accepting orders from authorized purchasers,
without allocation, for the 2017 American Eagle and American Buffalo
gold bullion coins on Jan. 9.