Precious Metals

American Eagle gold sales dip in October

American Eagle gold and silver bullion coin sales to the U.S. Mint’s authorized purchasers both dipped slightly in October compared with September’s figures.

Gold coin images courtesy of the U.S. Mint. Silver coin for photography courtesy of SilverTowne.

The U.S. Mint’s sales in September to authorized purchasers of American Eagle gold bullion coins dipped slightly in October from September’s figures.

Monthly sales reached 59,000 ounces in October compared with 68,500 ounces in September.

Silver American Eagle sales also dropped slightly in October, to 3,153,000 coins. September sales were recorded at 3,255,000 coins.

American Buffalo gold $50 bullion coin sales climbed in October to 11,000 coins, compared with 8,500 of the 1-ounce coins in September.

During October 2012, American Eagle gold bullion coin sales reached 59,000 ounces — 54,000 ounces in 1-ounce coins, 1,000 ounces in half-ounce coins (2,000 pieces), 1,000 ounces in quarter-ounce coins (4,000 pieces) and 3,000 ounces in tenth-ounce coins (30,000 coins).

For the first nine months of 2012, the U.S. Mint has recorded sales of 540,500 ounces in American Eagle gold bullion coins — 464,500 ounces in 1-ounce coins, 31,500 ounces in half-ounce coins (63,000 pieces), 16,500 ounces in quarter-ounce coins (66,000 coins) and 28,000 ounces in tenth-ounce coins (280,000 pieces).

Looking at the first nine months of sales for each of the previous five years, the Mint sold 121,000 ounces of gold American Eagles in 2007; 446,500 ounces in 2008; 964,000 ounces in 2009; 954,500 ounces in 2010; and 843,500 ounces in 2011.

Sales in 2007, 2008, 2010, 2011 and 2012 included both 1-ounce coins and the fractional bullion coins.

Sales from January through September 2009 comprised strictly 1-ounce coins. Fractional half-ounce, quarter-ounce and tenth-ounce American Eagle gold coins were sold only in December that year.

In 2010, sales were restricted to 1-ounce gold coins from January through May, with fractionals included in the offerings beginning in June of that year.

During the first nine months of 2012, the Mint recorded sales of 28,948,000 American Eagle silver bullion coins. Sales for the coin in 2012 are well off the record pace set in 2011, but ahead of 2010 levels.

2011 and 2012 sales figures include bullion coins struck at both the West Point Mint and San Francisco Mint. The San Francisco Mint resumed production in May 2011 to help meet investment demand after a hiatus of more than a decade.

Sales of the 1-ounce silver bullion coin in 2012 compare with the 33,411,500 coins sold during the same nine-month period in 2011; 25,480,500 coins in 2010; 20,467,500 coins in 2009; 13,950,000 pieces in 2008; and 5,812,000 coins in 2007.

October’s sales of 11,000 ounces of the American Buffalo 1-ounce gold $50 coins brought the calendar year 2012 total through
Oct. 31 to 107,500 ounces.

This year’s total compares to 132,500 American Buffalo .9999 fine 1-ounce gold coins for the same nine-month period in 2011; 209,000 coins in 2010 (the coins were only offered April through September); zero coins by September in 2009 (the coins were only offered for sale in October, November and December); 146,500 coins in 2008; and 123,000 coins in 2007. ¦

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