American Eagle Jan-Feb 2013 gold bullion coin sales soar
February 2013 American Eagle gold bullion coin sales rocketed an incredible 238% over last year, while silver bullion coin sales during the same month more than doubled.
U.S. Mint figures show sales of the American Eagle gold bullion coins totaled 80,500 ounces in February, up 283% from the 21,000 ounces of American Eagle gold bullion sales reported during the same period of last year.
The Mint reported 230,500 ounces of American Eagle gold bullion coin sales in the first two months of this year, up 56% compared to 148,000 ounces during the first two months of 2012.
Total gold coin sales for January and February 2013 were 430,500 ounces, up substantially from 283,500 ounces of gold sales for the same period of last year. At 124,500 ounces, January 2013 American Eagle gold bullion sales were the sixth largest on record.
Sales of 1-ounce silver and gold American Eagle coins are soaring as market prices for the precious metals drop.
In fact, February sales of gold Eagles from the U.S. Mint were up 240 percent year over year, with sales of silver Eagles up 126 percent from February 2012 to 2013. The total number of troy ounces of gold sold during the two months in the form of Eagles was 230,500. For silver, the total was 10,866,500.
“More buyers are turning to physical gold and silver because of concerns over the U.S. debt and the crisis this huge debt level may bring to the U.S. economy over the next several years,” said Michael Haynes, CEO of American Precious Metals Exchange (APMEX).
Gold sold for about $1,750 an ounce a year ago, while today it hovers around $1,575. Silver dropped from around $34 an ounce in February 2012 to around $29 a year later.
“January and February for us were record type months,” Haynes said. “Our volume is extremely good; the physical markets are alive and well.”
Its APMEX Bullion Center on eBay had two of its top selling days ever in February, he said, and was frequently among the top 10 sellers on eBay.
Haynes called it “a perfect example of how many of the investors outside of the coin and bullion markets are being introduced to gold and silver.”
People are taking note of how the federal government debt is creeping up toward the debt ceiling, he said.
“Basically, you can’t grow the debt at 15 percent and grow the economy at 2 percent and expect to have a good result,” Haynes said.
That’s what people who are buying silver and gold bullion coins are thinking about, he said. And they like having their investment within reach.