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February Eagles post decline

Low silver and gold prices are keeping the United States Mint’s bullion orders down, the latest sales data show.

Low silver and gold prices are keeping the United States Mint’s bullion orders down, the latest sales data show.

Low silver and gold prices are keeping the United States Mint’s bullion orders down, the latest sales data show.

Comparing February of 2014 to February 2015 in terms of total ounces sold, purchases of gold American Eagles are down 40 percent, silver American Eagles down 19 percent and gold American Buffaloes broke even.

According to Kitco.com, the price per troy ounce of gold in February averaged $1,300. In 2015, the February gold price averaged at $1,227.

The price of silver per troy ounce in February of 2014 averaged $20.82. February in 2015 had a $16.84 average.

Sales numbers show the Mint sold 22,000 one-ounce, 3,000 half-ounce, 10,000 quarter-ounce and 50,000 tenth-ounce gold Eagles in February of 2014. The same month in 2015 had numbers drop to just 12,500 one-ounce, 2,000 half-ounce, no quarter-ounce and 50,000 tenth-ounce coins.

For the silver Eagle, 3,750,000 coins were ordered in February of 2014. In 2015, February only saw 3,022,000 silver Eagles sold. Sales of silver Eagles are still under rationing by a Mint order from October.

The gold Buffalo saw 12,000 ounces sold in both February 2014 and 2015.

This article was originally printed in Numismatic News.
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