The pace of sales for the United States Mint’s 2010 American Gold Eagle have shown a significant slow down in the prior month. The total sales recorded are down sharply from the prior month and the year ago period.
During April 2010, the US Mint offered only the one ounce version of the American Gold Eagle bullion coin. In the past, a range of fractional versions of the coin have been available including one-tenth ounce, one-quarter ounce, and one-half ounce sizes. The fractional coins have not been available regularly since 2008. Sales for April 2010 registered at 60,500 ounces.
This is a decline of 41% from the prior month when 102,000 ounces of gold were sold. The decline measures 59% from the year ago period when 147,500 ounces were sold.
There have been indications from other world mints regarding a slow down in demand for physical gold bullion sales, but in this instance the drop is partially explained by the release of the 2010 American Gold Buffalo coins during April.
The US Mint began accepting orders for the one ounce 24-karat gold coins on April 29, 2010. In just two days sales of 56,500 were recorded. In the prior month and year ago period, Gold Buffalo bullion coins were not available.
If you would like to make a comment, please fill out the form below.
