Gold News

Gold Coins Sales Fall 83% at U.S. Mint

SALES of American Eagle Bullion Gold Coins fell sharply in February, while Silver Bullion coin sales also dropped, the Mint's own data show.

A total of 21,000 ounces of American Eagle bullion Gold Coins were sold last month. This represents the lowest monthly sales since June 2008, and an 83% drop from January.

The American Eagle is the most popular of the Gold Coins the US Mint produces specifically for Gold Investment purposes. American Buffalo bullion coins saw sales down by almost half last month, falling from 13,500 ounces in January to 7,000 ounces.

Sales of American Eagle Silver Bullion coins fell from 6.1 million ounces to just under 1.5 million ounces.

In contrast with demand for silver and Gold Coins, the largest ETFs for each metals both saw their holdings grow last month. The volume of gold held to back shares in world's largest Gold ETF the SPDR Gold Trust (GLD) rose 1.8%, while the biggest silver ETF, the iShares Silver Trust (SLV) saw its holdings climb 1.4%.

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