August 9, 2017
American Silver Eagles (ASE) sales are way down for the year but seem
to be on the rise, while American Gold Eagles (AGE) sales have been
down and are off by a substantial percentage compared to all other
In the first half of 2016, ASEs were on a tear and had the pace set in
the first half of 2016 continued throughout the year it would have been
another record setting year. However, a funny thing happened in the
second half of 2016, sales fell off a cliff and have never recovered.
AGE’s in 2016 were also enjoying a great run, not record setting but
strong sales month after month.
As can be seen in the charts AGE sales are down by some 75% year over
year. In April 2017 AGE sales were down north of 90%; that trend has
continued in the following months with only a slight improvement in May.
If you are a coin collector this year would probably be a good year to
add a few AGE’s to the stack, in multiple denomination’s as the total
number of coins minted should be exceptionally low across the board.
Personally, I will be picking up one coin of each denomination because
of the low mintages. Graded coins should do exceptionally well as the
years go by.
Click either chart to enlarge – charts compliments of USMint
The right side end column on the above charts shows the total number
of cumulative ounces sold during the month according the USMint. The
charts provided by the US Mint show the total of all coin sizes, all
gold ounces, sold by the US Mint. The total amount of AGE’s sold by the
US Mint shows a dramatic decline in sales.
By simply looking at April, May and June 2016 vs same months in 2017 one can quickly see the extreme drop year over year.
- April 2016 105,500 total ounces compared to April 2017 6,000 total ounces
- May 2016 76,500 total ounces compared to May 2017 15,500 total ounces
- June 2016 73,500 total ounces compared to June 2017 6,000 total ounces
The total ounces sold during April, May and June 2017 reflects
approximately a 60% drop of the total ounces sold compared to June 2016
alone. That should get any coin collectors attention.
These numbers have not been seen since 2006 when the US Mint sold a
total of 261,000 ounces of gold eagles – the second worst sales year
ever. 2017 may not reach 2006 total gold ounces sold as the total ounces
sold through July 2017 is a mere 210,000 ounces. If the US Mint drops
below 10,200 total gold ounces sold in any of the remaining five months
2017 will not reach 2006 total American Gold Eagles ounces sold and it
could fall all the way back to 2002 when the US Mint sold 230,000 total
AGE gold ounces – the worst year on record since the AGE program began.
The first year sales, 1986, saw a total of 469,500 AGE gold ounces sold
with similar numbers for the next five years.
This would mean the US Mint would need to sell 4,000 total gold ounces for each of the remaining five months to avoid being the worst (best) year ever for AGE sales. Personally, I’m hoping they miss it and post the best year ever for collectible gold coins!! Where else can you pick up a collectible coin with minimum premium that is recognized around the world? 2017 will either be the lowest number of minted AGE gold ounces or the second lowest. This is the year to add at least one AGE to your stack.
Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700 articles and produced more than 200 videos about the precious metals market, economic and monetary policies as well as geopolitical events since 1987. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory has contributed daily to SGTReport since 2012. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Visit The Daily Coin website and The Daily Coin YouTube channels to enjoy original and some of the best economic, precious metals, geopolitical and preparedness news from around the world.
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Source: Sprott Money