Bullion Buying Public Still Groggy From Sidelined Fed in 2012, Though US Bullion Sales Move Higher in September
Jobs at the US Mint are always safest in the midst of Quantitative Easing. Especially monumental QE’s to infinity. With major industrial nations racing each other to the bottom of the ocean in a printing free-for-all, it is likely that the amount of ocean explored will quickly rise from 10%, as monetarists the world over greet themselves in a scuba diving orgy of once strong, now drowned, nations. Anyway, the US Mint posted some of its strongest sales of the year, although sales are down from a year ago. The US Mint’s American gold and silver eagle bullion coins reached their second highest monthly total for the year in September, as higher monthly totals were only reached in January, a month traditionally strong for sales. September 2012 saw 3,255,000 1 oz. American Silver Eagle bullion coins sold, up 13.41% from the prior month, making September the second consecutive month to see an increase in sales. The September 2012 total is below the September 2011 total, when 4,460,500 coins were sold. Supply shortages have not been a problem as they were in the run-up to $50 silver in spring of 2011.
The America the Beautiful Five Ounce Silver Bullion Coins saw their highest monthly sales total of the year at 25,500 coins or 127,500 troy ounces of precious metal content. This on the heels of the release of the latest design, Hawaii Volcanoes National Park, which sold 10,400 pieces since its release on September 10, 2012. Year-to-date, ATB 5 oz. Silver Coin sales include 10,800 of the 2011-dated designs, 17,900 for the El Yunque National Forest design, 17,200 for the Chaco Culture, 18,000 for Acadia National Park, as well as the 10,400 for the Hawaii Volcanoes. The fifth and final design, of Denali National Park, comes out October 22, 2012.
American Gold Eagle bullion coins across all fractional options reached 68,500 troy ounces. The 1 oz. option accounts for most of the total sales. This is an increase of 75.64% from August 2011, and the second consecutive month of increase. The total of Gold American Eagle sales, to be sure, is below the level of one year ago, when 91,000 troy ounces were sold.
September 2012 US Mint Bullion Coin Sales
|
September 2012 |
YTD 2012 |
|
| American Gold Eagle 1 oz |
63,000 |
410,500 |
| American Gold Eagle 1/2 oz |
2,000 |
61,000 |
| American Gold Eagle 1/4 oz |
4,000 |
62,000 |
| American Gold Eagle 1/10 oz |
35,000 |
250,000 |
| American Gold Buffalo 1 oz |
8,500 |
96,500 |
| American Silver Eagle 1 oz |
3,255,000 |
25,795,000 |
| America the Beautiful Silver 5 oz |
25,500 |
85,100 |
The month also saw sales of 8,500 of the 1 oz. Gold Buffalo bullion coins (the 24k alternative to the Gold American Eagle) bringing year-to-date sales to 96,500 coins.