Booming Sales of the US Gold Mint
Booming Sales of the US Gold Mint
In September the sales of the Bullion 2010 Gold American Eagles bounced back significantly. The sales figures from the US Gold Mint show that 88,000 ounces of gold in coins were sold to Mint Authorized Purchasers in September 2010 alone. The demand for United States Mint gold coins may have been somewhat affected by the launch of numismatic 2010 Proof Gold Eagles. Since 2008, the collector’s version of these coins has not been made available. As the demand for these bullion strikes are huge, the law requires the Mint to strike more bullions to meet the demand, as a result the production of the 2009 proofs were cancelled for the first time since their production began in 1986.
US Gold Mint: Sales Figures September 2010
Here are the September 2010 sales figures for the US Mint 2010 Gold Eagle Bullion
| Total Coins Sold | Total Ounces Sold | Total Coins Sold | Total Ounces Sold | |
|---|---|---|---|---|
| 1/10 Ounce Gold Eagles |
30,000
|
3,000
|
355,000
|
35,500
|
| 1/4 Ounces Gold Eagles |
6,000 |
1,500 |
54,000
|
13,500
|
| 1/2 Ounce Gold Eagles |
2,000
|
1,000
|
36,000
|
18,000
|
| One Ounce Gold Eagles |
82,500
|
82,500
|
887,500
|
887,500
|
| TOTAL |
120,500
|
88,000
|
1,212,000
|
954,500
|
US Gold Mint: 24-Karat American Buffalo Gold Bullion and Proof Coins
The United States Mint began the sale of 24-karat (99.99% pure gold) gold bullion coins mainly for the purpose of investment around early 2006. The collector’s edition proof coins were released later in the same year.
- American Buffalo Gold Bullion Coins: The American Buffalo Gold Bullion Coins were the first 24-karat (.9999 fine) gold coins ever produced by the United States Mint and then made available for sale through the Authorized Purchasers network. Priced at $50, these gold coins can be bought by the members of the general public who are looking for a simple form of investment. Moreover, this tangible investment in the form of legal tender 24-karat coins assures the investor of its purity and content as it is issued by the United States Government. American Buffalo Gold Bullion Coins are easily available at participating banks, brokerage houses and precious metal and coin dealers.
- American Buffalo Gold Proof Coins: The United States Mint also produces a version known as the proof for collectors. It refers to special minting procedure where the burnished coin blanks are manually fed into presses with special dies. The coins are struck multiple times to produce images high in detail. Each proof coin is accompanied by a Certificate of Authenticity. These proof coins are available at a fixed price from the US Gold Mint.
US Gold Mint: Supply Shortage and New Mintage
The United States Mint is facing a problem with gold. As the demand for gold in the gold bullion coins and in the futures indexes increases as the dollar grows weaker there has been a pressure on the mint. There is no scarcity of gold. The only issue here is that the mint does not have any resources to strike them into coins because of the budget cuts and outsourcing.
A Reuters report claims that the United States Mint has exhausted its stock of the one ounce American Buffalo gold bullion coins and that they are not going to produce this popular gold coin. The American Buffalo gold bullion coins are one of the most sought after gold coins the world over because of their 24-karats purity. Strong prices of gold coins all through the year have resulted in the demand for these gold coins and will increase the scarcity and the value of the 2010 American Buffalo gold bullion coin.
However, the 2010 $50 American Buffalo Gold Proof Coin has already been introduced by the United States Mint on June 3, 2010. The opening price of $1,510.00 did not discourage buyers, with 15,071 coins being ordered by June 10, 2010 according to the reported sales of the US Mint. This comes out to be $22,757,210 as gross revenue for the debut week.
