Demand for American Gold Eagle bullion coins moderated this month. Sales are now tracking below the monthly levels achieved in the prior year. As an indication that the US Mint has finally caught up with demand, the Gold Eagle rationing program ended this month.
During March 2010, the US Mint sold 102,000 one ounce Gold Eagle bullion coins. This compares to prior month sales of 84,000 ounces and year ago sales of 136,500 ounces.
For the year to date, the US Mint has now sold 271,000 ounces of gold bullion. This is tracking just over 20% below sales levels achieved by this date last year.
Early in the month, the allocation program, which limits the number of Gold Eagles that can be ordered at the authorized purchaser level, was put to an end. This program had been reinstated in December 2009, following a sales suspension. In times when demand has exceeded the number of bullion coins, the US Mint has suspended sales or rationed available quantities.
This month also marked the final sales of 2009-dated Gold Eagles. Because of the large remaining inventory of prior year coins, the US Mint had required authorized purchasers to buy one 2009 Gold Eagle for every three 2010 Gold Eagle coins ordered. Some bullion purchasers prefer the most recently dated coins.
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