Gold Bullion Coin Demand Extremely Strong

Recent Sales of the American Buffalo Gold Bullion Coins and the American Eagle Gold Bullion Coins appear to be very strong, according to figures released by the US Mint.

In fact, demand in just the month of May has been staggering.  With just 13 days accounted for in the records, 144,000 ounces of the gold bullion coins have been sold.  Only 3,001 more ounces sold and May will become the best selling month for the year - a feat which should be easily attainable seeing as how over  half of the month is left.

Of that 144,000, 67,000 were sold as the 22-karat One Ounce American Eagle's and 47,000 as the 24-karat  One Ounce American Buffalo.

Looking at the gold bullion for the year as a whole, 398,500 of the American Eagle's have been sold and 103,500 of the Buffalos - for a total of 502,000 ounces.  So, doing some quick calculations show that over 28% of all the gold bullion coins sold this year were sold in the recent first 13 days of May.

Some of this may have to do with the fact that the Buffalos were only recently released by the Mint on Thursday, April 29, 2010.  Sales were equally as exciting that first day as 48,500 of the new strikes were accounted for.

The Gold Eagles were made available for purchase back in January, on the 19th of that month.

Collector versions of both are typically available each year, but last year's demand placed on the Mint for gold coins forced a halt to the collector coin production.  No date has been made public for the Eagle's to make a return to the collector market, but the Mint's website shows June 3, 2010 as the return for the collector Buffalo Proof Coin.

It should also be noted that bullion sales are not offered directly to the public by the US Mint.  Instead, the Mint uses a network of authorized purchasers which buy the bullion coins in quantity, then resell them in smaller lots to coin dealers and individuals for a small premium above the market price of the gold contained within them.

Related World Mint Coins articles:

• February Gold American Eagle Bullion Coin Sales Come In Strong
• January 2010 Demand High for American Eagle Bullion Coin
• US Mint Bullion Coin Sales: 2009 Buffalo Gold at 145,500

Posted by World Mint Coins Staff on May 15 2010. Filed under Gold Coins, United States Coins. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry