US Mint’s American Eagle Coin Sales Suffering

Mineweb reported that the US Mint’s sales of American Eagle gold bullion coins are down nearly 54 percent year-to-date. American Eagle silver coin sales are also suffering, having fallen 15 percent year-to-date.

As quoted in the market news:

Gold coin sales totaled 25,000 ounces in August of this year, up substantially from the 11,500 ounces in sales reported for August 2013. However, year-to-date sales for 2014 total only 331,500 gold ounces, a decline of 54% from comparable year sales of 691,000 ounces as the same time period of 2013.

Lower gold prices are being blamed for the decline in American Eagle Gold coin sales although gold is now available at bargain prices for physical gold investors.

American Silver Eagle coin sales are also suffering. For year-to-date, Silver Eagle sales are 28,111,000 ounces, down 15% from sales of 33,075,000 silver ounces during the comparable 2013 period.

For August 2014, American Silver Eagle coin sales were 2,007,500 ounces, down 45% from 3,625,000 silver ounces sold in August 2013.

Click here to read the full Mineweb report.