US Mint Gold Coin Sales Down for January
February 13, 2010 – In spite of a strengthening US dollar and a correction in spot prices, gold coin sales for the month of January at the US Mint still reached 85,000 ounces. Down from the record-setting December total of 247,500, January’s total was still within 7,000 of the January 2009 total of 92,000. This year’s total is strictly for Double Eagles as the fractional coins are not currently being produced.
2010 gold coin sales did not begin until January 19th, meaning that the totals were accomplished in less than two weeks. This is a positive reflection of demand so far for 2010, as economic factors such as a strengthening US dollar and economic uncertainties have failed to keep investors from entering the gold market, leading many analysts to anticipate a recovery from lower spot prices. Minted since 1986, the Double Eagle coin is one of the most popular bullion coins in the world.
Bullion represents an important part of the entire gold investment market. It is frequently used as an effective short-term investment vehicle because of its worldwide acceptance and high liquidity. In addition to the United States, some of the other leading bullion producing countries are Canada, South Africa, Australia, France, China and Austria.
As spot prices rise and additional investors decide to enter the market, gold coin sales are likely to increase. Although sold at the US Mint, gold exchanges offer investors additional points of purchase and generally are able to sell at prices lower than individuals receive from the Mint, making their purchases even more valuable.
Stewart Lawson
Senior Staff Writer - Gold-Coin.com
