Precious Metals

Investors balk at U.S. Mint bullion coins

October's sales by the U.S. Mint of American Eagle silver bullion coins reached less than half the amount recorded for the month of September.

Images courtesy of SilverTowne.

The U.S. Mint’s sales in October of American Eagle silver and American Buffalo gold bullion coins to its authorized purchasers reached only about half the number sold during the previous month.

The Mint's monthly sales report indicates 1,405,000 American Eagle silver bullion coins were sold during October, compared with 2,897,500 of the coins sold in September. American Buffalo gold coin sales in October totaled 6,500 coins against 11,000 sold in September.

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American Eagle gold bullion coin sales were up slightly in October, to 22,000 ounces, which was 1,500 ounces more than were sold in September. The bulk of the sales both months constituted the 1-ounce $50 coins, with 19,500 sold in October and 14,500 in September.

In comparison to last year’s sales for the same coins, in October 2017, the U.S. Mint sold 1.04 million American Eagle silver bullion coins compared with only 320,000 in September 2017. American Eagle gold coin sales to the distributers in October 2017 reached 45,000 ounces, compared with 36,000 ounces in September 2017. American Buffalo gold bullion coins sales in October 2017 reached 7,000 coins compared with just 1,500 coins in September 2017.

The American Buffalo coins are made of 24-karat gold, or .9999 fine, and the American Eagle gold coin is 22 karats, or .9167 fine. Both coins contain a full ounce of pure gold.

2018 sales are running behind those for 2017.

Through Oct. 31, the U.S. Mint recorded its authorized purchasers bought 13.54 million American Eagle silver dollars, 291,500 ounces of American Eagle gold coins and 114,500 ounces of American Buffalo gold bullion coins.

Sales over the same period in 2017 reached 18,065,000 silver American Eagles, 247,500 ounces of gold American Eagles and 83,500 ounces in American Buffalo gold bullion coins.

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