Gold News

Q1 Gold Coins Sales Hit 4 Year Low

IN THE first three months of 2012 the US Mint sold fewer American Eagle bullion Gold Coins – which it produces specifically for Gold Investment purposes – than it has in any first quarter since 2008.

March saw the US Mint sell 62,500 ounces of American Eagle bullion Gold Coins. While this was almost three times the amount sold in February, it represented a 15% year-on-year drop.

Sales of the Gold Coins were 210,500 ounces for the first three months of 2012, a 30% fall from Q1 2011 and nearly 40% down on the figure for Q1 2009.

By contrast, sales of American Buffalo bullion Gold Coins for Q1 2012 were up on the same period last year – at 46,500 ounces compared to 38,000 ounces in Q1 2011. However, all of the Q1 2011 sales occurred in March, with no sales of Buffalos recorded for February or January of that year.

Buffalo Gold Coins are purer than the American Eagles, at 99.99% pure gold compared to 91.7% pure for American Eagles (though both contain one troy ounce of gold).

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