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Buyers of Gold Eagles Close Wallets
By Numismatic News
September 05, 2013

This article was originally printed in Numismatic News.
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They might be buying gold in India, but in Indiana, not so much.

The latest U.S. Mint monthly American Eagle bullion coin sales figures for August show that buying has come almost to a complete stop.

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Just 9,000 one-ounce coins were taken by the Mint’s Authorized Purchasers. If the fractional denominations are added in, just an additional 2,500 ounces of coins have been sold.

There were 1,000 half-ounce coins sold in August as well as 6,000 quarter-ounce and 5,000 tenth-ounce coins.

July had previously been the month with the lowest sales figures of 2013 at 43,0000 one-ounce coins.

These numbers compare to 124,500 one-ounce coins sold in January and 187,500 in April.

The latter month was the high point for the year as buyers were attracted to gold by a sudden $200 drop during the month.

A June-July gold price slump followed by a rebound though early September seems not to have persuaded American buyers to scoop up quantities as they did in April, but then the Indian rupee is dropping like a rock while the dollar currently is rising.

Even if the 10,000 one-ounce gold Buffalo bullion coins are added in, the month of August would still sit at the bottom of the monthly sales figures.



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• See what guides and supplies our editors recommend for keeping up with your collection.

 



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Comments
On September 6, 2013 Aardvark said
"Authorized Purchasers".  That in itself is a show stopper for me.  Everyone should be authorized to purchase from the mint not just a chosen few who then mark up the price of the product.  Perhaps if the mint opened the gates to all comers they might see an improvement in sales.

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