Home PageNewsAs Precious Metals Prices Correct, Sales Surge

As Precious Metals Prices Correct, Sales Surge

Oct 31, 2014

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Whoever predicted that gold and silver would go slowly into the night based on recent price corrections forgot to pass that message along to both US and international precious metals buyers.  According to CoinNews.net, sales of gold and silver bullion have surged.  In fact most retailers have increased premiums on the sales of their popular metals all while spot prices have slimmed.

US Mint Bullion Coin Sales in October

U.S. Mint bullion sales are yet to close officially for October, though they are not expected to change. CoinNews.net will publish a more detailed analysis later, but in summary:

  • American Eagle gold coins rallied 67,500 ounces in October after sales of 58,000 ounces in September. The monthly amount is the second highest this year, behind sales of 91,500 ounces in January when the 2014-dated versions debuted. 2014 sales now total 446,500 ounces, still well below the 752,500 ounces sold during the first ten months of 2013.
  • 2014 American Eagle silver coins shot up 5,790,000 in October after the prior month’s pick up of 4,140,000. The amount is the most for a month this year, though sales in January were allocated which held its total down. Silver Eagle sales for the year to date are at 38,041,000, the second quickest pace in the coin’s 29-year history. Silver Eagle sales in record year 2013 hit 39,175,000 through October 2013.
  • American Buffalo gold coins surged 21,000 in October after rising 14,500 in September. The monthly total was the most since the January tally of 41,500.
  • 2014 America the Beautiful Five Ounce Silver Bullion Coins added 5,100 in October after rising 9,800 in September. No new releases debuted this month. The Everglades National Park five-ounce silver coin launches on Monday, Nov. 3.
  • American Platinum Eagle coins rose 400 in October following an increase of 2,700 in September. Sales this month were stunted since the Mint stopped selling the coin on Oct. 1. Sales for 2014 ended at 16,700 coins. The Mint will begin selling 2015-dated Platinum Eagles in early January.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on Friday, last week, this week, last month, in October, and the year to date.

American Eagle and Buffalo Bullion Sales (# of coins)
Friday Sales Last Week Current Week September Sales October Sales YTD Sales
$100 American Platinum Eagle Bullion Coins N/A 2,700 400 16,700
$50 American Eagle Bullion Gold Coins 7,000 11,500 11,000 50,500 57,500 353,500
$25 American Eagle Bullion Gold Coins 0 1,000 0 6,000 6,000 38,000
$10 American Eagle Bullion Gold Coins 0 0 0 8,000 8,000 100,000
$5 American Eagle Bullion Gold Coins 10,000 10,000 10,000 30,000 50,000 490,000
$50 American Buffalo Bullion Gold Coins 0 3,500 500 14,500 21,000 160,500
$1 American Eagle Silver Bullion Coins 1,425,000 840,000 1,850,000 4,140,000 5,790,000 38,041,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 0 0 3,500 0 33,000
Shenandoah National Park 5 Oz Silver Bullion Coins 500 400 500 1,000 900 22,400
Arches National Park 5 Oz Silver Bullion Coins 0 0 0 800 0 22,000
Great Sand Dunes 5 Oz Silver Bullion Coins 0 1,400 0 4,500 4,200 16,200

 

 

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