American Eagle Sales Down Again|
October 03, 2013
Sales of 1 ounce gold American Eagle bullion coins fell further in September from an already very low point in August.
Authorized Purchasers acquired just 8,500 of the coins in September, down from August’s 9,000 figure.
September now stands as the lowest sales month of 2013.
During the first six months sales averaged 90,750 each month. In the next three months, sales averaged 20,167, down roughly 78 percent.
If you simply look at the monthly figures individually starting with January’s 124,500, the weakness of recent months is also apparent.
In February sales were 68,000, in March 54,000.
In April sales surged to 187,500 after a two-day plunge of $200 in the price of gold prompted many to believe the coins were priced at a bargain level.
Sales then tailed off to 61,500 in May and 49,000 in June.
July registered sales of 43,000 followed by August’s ultra weak 9,000 and September’s even weaker 8,500.
Even silver Eagle sales are weakening. Their monthly numbers are distorted by rationing. Since January, Authorized Purchasers have been prevented from buying as many as they want.
Rationing began when the Mint was cleaned out of 7,498,000 silver Eagles in just days in January. Sales have averaged over 4 million a month this year if you include the January sales figure, or 3,597,125 if you do not.
September’s sales number of 3,013,000 is the lowest monthly figure of the year and is perhaps hinting at more weakness to come.
More Coin Collecting Resources:
• Order your 2013 Yellow-Bellied Sea Snake Coin Set today!
• IT’S HERE! Order the 2014 North American Coins & Prices.
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• See what guides and supplies our editors recommend for keeping up with your collection.
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