Gold Coin Sales up 13 Percent in June

July 6, 2012 – The latest report from the US Mint shows sales of gold bullion coins have increased by over 13 percent in the month of June, a stunning increase, and sales of silver bullion coins have not lost any ground since May.

Monthly sales of the American Eagle gold bullion coin have been volatile during 2012, moving both higher and lower in demand. A high of 127,000 ounces in January and a monthly low of 20,000 ounces in April has provided a significant range for sales in gold bullion coins. Sales have rebounded a great deal in may at 53,000 ounces and that trend continued higher in June with sales at 60,000 ounces.

Sales of American Eagle gold bullion coins, clearly, vary from month to month, sometimes in a very dramatic fashion and according to many factors. The yearly sales record for gold bullion coins was made on gold bullion sales of 1,435,000 ounces in 2009 during a period when many people feared the financial system itself would collapse from the unhealthy leverage in the system.

The sales volumes of the gold coins have not directly been correlated with the price of gold. In other words, the sales of gold coins cannot be anticipated to rise or fall with the spot price of gold on any given day. To indicate, gold finished 2009 at $1,087.50 per troy ounce and subsequently hit a 2011 high at $1,923.60. The price of gold increased 74 percent, but total coin sales declined in 2010 and 2011, compared with 2009.

The sovereign debt crisis in the European Union continues to threaten a monetary system crisis on par with the crisis in the US seen in 2008, though currently the safe haven buying seems to be moving towards the US dollar against the euro instead of gold.

Should the situation in Europe deteriorate, and every indication is that there are no reasons to assume it cannot, gold will again become the safe-haven asset of choice for investors, as it was during the 2009 lows and buying will again flock to gold, though, as with the US dollar now, there will be relative markets in the intervening time.

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