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Gold Eagle sales plunge

Gold and silver bullion prices have registered gains this year, but rising metals prices have done nothing to boost sales of American bullion coins from the U.S. Mint.

Instead, buyers of American Eagle gold and silver bullion coins have cut back their purchases so far this year.

In the case of gold, the reductions are drastic.

In the first six months of 2014, sales of one-ounce American Eagle bullion coins fell a sharp 64 percent from 544,500 coins in the first half of 2013 to 198,500 in the same period in 2014..

Taking into account all four sizes of gold American Eagle bullion coins, the decline was a slightly less severe 58 percent, 629,000 ounces in 2013’s first six months compared to 266,000 ounces this year.

Buffalo gold one-ounce bullion coins registered a decline of 31 percent. Some 161,500 coins were sold in the first six months of 2013 compared to 111,500 in the first half of 2014.

Silver American Eagle bullion coin buyers proved the most tenacious this year, but even they cut back on purchases by 3.7 percent.

In the first six months of 2013, the Mint vended 25,043,500 of the popular one-ounce silver coins while in the same period of 2014 the sales figure is 24,128,500, a decline of 915,000 coins.

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