Demand for the American Eagle Gold and Silver Bullion Coins could certainly be considered elevated according to the January sales figures from the United States Mint.
Even with several hurtles to over-come, the Silver Eagles recorded their best ever sales for the month of January with 3,592,500 sold. The Gold Eagles were not as popular but still managed to rack up 85,000 sold before the month closed out, tagging the seventh best January ever for them.
What makes these numbers more incredible are the factors that actually limited the sales of the coins; one of them being the late release of both bullion Eagles. Due to US Mint production issues, both were only made available on January 19, 2010. Typically, the coins are offered for sale much closer to the first of the year.
For more detailed information on the American Eagles January sales, we bring you two articles that were published on a sister site:
Gold Eagle Bullion Coin January Sales
2010 American Gold Eagle Bullion Coins launched with strong opening sales. However, as of the final business day of the month on Friday, fewer eagles were sold in January 2010 at 85,000 compared to the January 2009 total of 92,000.
Demand has certainly been impacted by falling bullion prices. The London Fix for gold ended January at $1,078.50 an ounce versus the $1,104.00 price set on December 31. That is $25.50 or a 2.3% fall.
There was also a bit of a twist for Gold Eagles this month. The United States Mint normally begins striking newly dated eagles in December to have them ready for the market in January. However, with little or no inventory in reserve the US Mint was compelled to strike 2009-dated eagles late into last year and sell them into 2010. Since the 2009 inventory was not depleted by the start of the year, the Mint has required buyers to purchase both 2009 and 2010 coins together.
The 2010 Gold Eagles launched on Tuesday, January 19, with 30,500 ordered. Additionally, 18,500 of the 2009-dated eagles were purchased, bringing the single day sales to an impressive 49,000 -- more than double the amount that had been sold in the 18 days prior. By Wednesday, a total of 69,000 of the 22-karat, one ounce coins were snapped up. Flash forward a dozen days and just 16,000 eagles were sold to reach the 85,000 for January.
Prior to January, monthly sales had been at or above 115,500 going back to August 2009.
For more information about this year's gold bullion coin, to include specifications and design details, visit the coin information page American Gold Eagles.
Silver Eagle Bullion Coin January Sales
2010 American Silver Eagle Bullion Coins were released on January 19, 2010, to eager buyers who sprinted to place US Mint orders that totaled 3,592,500 by month's end.
Pent-up demand driven by a later than usual launch helped drive sales. The United States Mint normally releases newly dated bullion coins in late December so they can be sold to the public in time for the new year. That did not happen this year as demand in December left inventories low, compelling the Mint to strike 2009s late into last year and sell them into 2010. The 2009-dated Silver Eagles eventually sold out on Jan. 12, leaving a week of silence until the 2010s were released.
When launched, the coins sold like hot cakes. US Mint authorized buyers snapped up 2,480,000 within 48 hours -- just more than 8.6 percent of the total sold in all of recording-breaking 2009. When adding in the 2009-dated eagles that were sold weeks before, Mint accounting shows 2,847,500 one-ounce silver coins were purchased through to Wednesday, Jan. 20.
And despite silver prices diving between that Wednesday and the following Friday, or perhaps because buyers were getting in on a perceived dip, another 243,000 left US Mint doors. That brought the total to 3,090,500. Three business days later (last Wednesday), 502,000 more were gone, bringing the final January tally to the aforementioned 3,592,500.
How impressive is that? The annual series was born in 1986. Since then, there has only been one other January month (Jan. 2008) where sales had even passed the 2 million mark.
For more information about this year's silver bullion coin, to include specifications and design details, visit the coin information page American Silver Eagles.
The Mint does not sell bullion eagles directly to the public, but instead to a small group of authorized purchasers who in turn resell them to precious metal providers, investors, dealers and collectors. These coins do not have a mint mark, unlike their numismatic counterparts.
