2012 American Eagle Gold and Silver Coins Show Mixed October Sales Posted by Adam King on November 02, 2012
October has turned out to be a mixed month for sales of 2012 American Eagle gold and silver coins, according to figures from the U.S. Mint. Investor demand for the investment-grade bullion coins dipped from September, though monthly sales were higher than a year ago for the same month, a first for 2012.
The stronger-than-expected sales of bullion came in despite fairly inconsistent daily advances and falling gold and silver prices. The investment landscape is and has been cautious, evidenced by the fact that there was not a single week during the month in which sales of American Eagle gold and silver coins occurred on more than two days.
Marking just the fourth advancement for the year, October sales of American Eagle Gold Coins totaled 59,000 ounces, combining one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce coins. The total is down against 68,500 ounces sold in September, but higher than 50,000 ounces sold in October 2011. Four months in 2012 recorded higher sales, but two were higher by less than 2,501 ounces.
Year-to-date sales for gold coins from the U.S. Mint are 540,500 ounces, a significant decrease in sales from the 893,500 ounces sold during the same time in 2011 and the lowest level of sales since the surge in safe-haven asset demand began as a result of the economic crisis in 2008.
American Eagle Silver Coins sales reached 3,153,000 in October, a decrease from 3,255,000 in September but again higher than the 3,064,000 sold in October of 2011. In only three months of this year, October included, have American Eagle Silver Coins breached the 3 million ounces a month level. Only January has surpassed the September sales levels in 2012 with 6,107,000 ounces, which is the second all-time high monthly total since the Silver Eagle Coin’s introduction by the U.S. Mint in 1986.
Year-to-date, 99.9 percent fine Silver Eagle Coins have sold 28,948,000. The only ten-month period to surpass those levels was last year’s 36,475,500.
October sales of American Buffalo Gold Coins gained to 11,000 from 8,500 in September, but still under the 12,500 sold in October 2011. In March, 26,000 Gold Buffalos were sold and 13,500 were sold in January, the only two surpassing months.
Year-to-date totals place the 24-karat gold coins at 107,500 ounces compared with 145,000 ounces in the first ten months of 2011.
Sales figures are fairly mixed, indicating a market that, while cautious, is still competing with sales figures from a year ago when there were not nearly as many market influences and economic dynamics keeping investors out of the market.