With a drop in the price of silver and gold collectors are ditching coins containing the precious metals while investors are buying them up.
Sales of bullion American Buffalo and Eagle coins rose dramatically between June 3 and June 10. In that time, Authorized Purchasers ordered an impressive 18,500 one-ounce, 2,000 quarter-ounce and 25,000 tenth-ounce gold Eagles. They also bought 5,000 one-ounce gold Buffaloes and 850,000 one-ounce silver Eagles. The biggest winner by far is the one-ounce gold Eagle, whose sales numbers have surpassed the totals sold in February and May and within range to overcome the total sold in April.
Meanwhile, collector coin sale totals have dropped as returns come in for many First Spouse, collector Eagles and commemoratives that contain silver and gold. The biggest loser is the 2014-W proof silver Eagle with a net loss of 1,581 coins.