U.S. Coin Collecting

June 2011 Sales of American Gold Eagle Bullion Coins Nosedive

Demand waned sharply for American Gold Eagle bullion coins in June 2011. United States Mint sales of the investment grade coins dropped to 61,500 ounces. The level was the lowest since December 2010 and the weakest month of June since 2008. While bullion coin sales generally dip during summer months, last month's total represented a steeper-than-normal 42.5 percent decline from the 107,000 ounces of gold sold in May. And in a stark contrast, companion Silver Eagles scored their best ever June. Their sales were 3,402,000, which was down only 6.9 percent from the previous month. Available options for the American Gold Eagle include one-ounce, half-ounce, quarter-ounce and tenth-ounce sizes. Buyers preferred the largest of the 22-karat Gold Eagles by a substantial margin. The quarter and tenth-ounce sizes in June actually outperformed their previous May sales. United States Mint gold bullion coin sales by size, month and over the last year follow: June 2010 – June 2011 Gold Eagle Bullion Coin Sales (in ounces / number of coins) Month One ( oz. / # ) Half ( oz. / # ) Quarter ( oz. / # ) Tenth ( oz. / # ) Total ( oz. / # ) June 2010 97,000 97,000 15,500 31,000 11,000 44,000 28,000 280,000 151,500 452,000 July 2010 147,500 147,500 1,000 2,000 500 2,000 3,000 30,000 152,000 181,500 August 2010 39,000 39,000 500 1,000 500 2,000 1,500 15,000 41,500 57,000 September 2010 82,500 82,500 1,000 2,000 1,500 6,000 3,000 30,000 88,000 120,500 October 2010 89,500 89,500 1,500 3,000 500 2,000 2,500 25,000 94,000 119,500 November 2010 107,500 107,500 3,000 6,000 1,000 4,000 500 5,000 112,000 122,500 December 2010 58,500 58,500 500 1,000 500 2,000 500 5,000 60,000 66,500 January 2011 130,500 130,500 500 1,000 500 2,000 2,000 20,000 133,500 153,500 February 2011 72,500 72,500 6,000 12,000 4,000 16,000 10,000 100,000 92,500 200,500 March 2011 60,500 60,500 4,000 8,000 5,000 20,000 4,000 40,000 73,500 128,500 April 2011 94,500 94,500 6,000 12,000 3,500 14,000 4,000 40,000 108,000 160,500 May 2011 93,500 93,500 11,000 22,000 1,000 4,000 1,500 15,000 107,000 134,500 June 2011 56,500 56,500 0 0 2,000 8,000 3,500 35,000 61,500 99,000   Year-to-date Gold Eagle sales now stand at 576,000 ounces. The six-month total is down 14.4 percent from the same stretch of time a year ago. Finally, although sales fell significantly last month and from the same period in 2010 and 2009, June 2011 does compare well over the last twenty-five June's with a rank of sixth best. Top 6 June Months for Gold Eagle Sales YEAR RANK SALES TOTAL 1999 1 216,000 2010 2 151,500 1998 3 148,500 2009 4 116,000 1987 5 75,000 2011 6 61,500   The United States Mint also reported 5,500 ounces of American Gold Buffalo bullion coins sold last month, bringing its total gold bullion sales count to an even 67,000 troy ounces. The one-ounce Buffalo is composed of 24-karat, or .9999 fine gold. The American Gold Eagle was introduced in October 1986 in both bullion and collector versions. The bullion coins are different than the collector proof or uncirculated counterparts. Each is struck in .9167 fine gold and feature the same designs. The collector coins feature a West Point "W" mint mark while the bullion coins do not.