This was the second lowest total of the year, after August 2010 when 41,500 ounces were sold. For all of 2010, five out of twelve months included sales above the 100,000 mark.

Total Gold Eagle bullion sales for all of 2010 have now reached 1,220,500. This is down from the previous year when 1,402,500 ounces were sold. With the price of gold experiencing its tenth consecutive annual gain, many had expected bullion sales to boom.

2010 Gold Eagle Bullion Sales (ounces)

For 2010, gold bullion sales are off to somewhat of a slow start compared to other recent years. Since the US Mint opened orders for authorized purchasers on January 3, 2011, sales of 14,000 ounces have been reached. As gold investment continues to experience elevated interest, sales trends for the coming year will be interesting to watch.

Last year, the release of the newly dated coins was delayed for several weeks. Near the end of 2009, heavy bullion demand caused the US Mint to continue striking the 2009-dated coins until the end of the year. The 2010-dated coins were not produced and available for sale until January 19.

This year, there will be no such problem with the one ounce 2011 Gold Eagle and Silver Eagles available to authorized purchasers on January 3, 2011. It is possible that some remaining inventory of prior year coins will remain, and these will be sold to AP’s into the new year.

For 2010, the American Silver Eagle bullion coins set another record for annual sales. This took place amidst a 75% jump in the silver price and an awakening realization about the investment potential of the other precious metal. It will be telling to see if the 2011 Silver Eagle continues with the string of new records for annual sales. Will next year be the year of silver?

Separately, the US Mint has been recording swift sales of the 2010 Proof Gold Eagles. These are numismatic versions of the coin that are marketed and sold directly to collectors, rather than distributed through the authorized purchaser network. The individual one ounce coin has sold out, while sales of the four coin set containing 1.85 ounces of gold have been swift.

2010 Gold Eagle Bullion Sales (ounces)

The breakdown of monthly sales includes 107,500 one ounce coins, 6,000 one-half ounce, 4,000 one-quarter ounce, and 5,000 one-tenth ounce. The one-tenth ounce sales were the lowest monthly total since the 2010 fractional Gold Eagles went on sale. In the first month of availability sales had reached 280,000.

Gold aside, there seems to be another United States Mint bullion program on the horizon. A bill authorizing a one once .9995 fine Palladium Eagle has been passed in the House and Senate. The bill now only requires the President’s signature to become law. The design for the new coin would be after the Winged Liberty Dime by Adolph A. Weinman.

The proof Gold Eagles have been offered by the US Mint each year, with the exception of 2008, usually with maximum limited mintages imposed. Sometimes the coins have sold out, other times they have lingered until the following year dated coins are released.

For 2010, there is already one product options sold out. Sales for remaining options are relatively brisk, but none are approaching sell out levels yet. As of November 7, 2010, the US Mint’s recorded sales for the 2010 Proof Gold Eagle are as follows:

2010 Proof Gold eagles Sales

Prices for the offerings were recently raised, in line with the recent rise in the price of gold. The new prices effective this week are $1,635 (1 oz), $831 (1/2 oz), $428 (1/4 oz), $185.50 (1/10 oz), and $3,030.50 (4 Coin Set).

There were some interesting situations that may have impacted Gold Eagle sales during the month. Possibly helping sales levels, the 24 karat Gold Buffalo coins were not available during the month. These had sold out at the end of September, eliminating one option for investors. Possibly detracting from sales, the 2010 Proof Gold Eagles went on sale at the US Mint. Some investment dollars may have been diverted to this collectible offering rather than bullion offerings.

2010 Gold Eagle Bullion Sales (ounces)

The breakdown of the current month’s sales includes 89,500 one ounce coins, 3,000 one half ounce coins, 2,000 one quarter ounce coins, and 25,000 one tenth ounce coins. During most months, the largest sized coin has accounted for nearly all bullion sales by weight. An exception was June 2010, when the fractionals first went on sale.