The monthly sales total for the one ounce American Gold Eagle bullion coin reached its highest level in more than a decade. The increase in demand can be attributed to increasing economic concerns and uncertainties related to the Greece debt situation. Physical gold bullion sales were markedly higher throughout Europe and some of the demand spilled over into the United States.
During May 2010, the US Mint sold 190,000 of the one ounce 2010 American Gold Eagles. This represents the highest monthly total for sales of the one ounce version of the coin since January 1999, when 208,500 coins were sold. In dollar terms (as opposed to ounces), the recent total would be more than triple the 1999 amount since the price of gold has appreciated substantially since then.
Sales of fractional weight 2010 Gold Eagles still has not begun, although it was recently reported that production had begun. The one-half ounce, one-quarter ounce, and one-tenth ounce coins will provide more options for precious metals investors. In the prior year, these fractional versions were quick sellers during the brief period they were available.
For the year to date, the US Mint has now sold 521,500 ounces through the American Gold Eagle program. In the previous year, the total had reached 1,425,000.
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