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Gold Sales Hit Record High in Five Years

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At the start of December, the United States Mint announced they are seeing a rise in gold bullion coin sales for the first time in five years.

2016 is making headlines for a number of reasons, one of which is cause for celebration for those at the United States Mint.

On December 6, 2016, the United States Mint announced they are seeing a rise in gold bullion coin sales for the first time in five years! The report comes after sales data revealed the Mint has sold 984,500 ounces of gold spanning denominations of American Eagle coins.

Their busiest month was the month of November when they experienced boom in total monthly sales of 147,500, an increase of 27% from the previous month of October and 52% from November 2015.

The United States Mint informs they are currently sold out of American Eagle coins in the following denominations: one-ounce, quarter-ounce, and tenth-ounce. They do however have ½ ounce gold American Eagle and one-ounce gold Buffalo coins still available for purchase.

These figures come after the demand for silver falling roughly 20% from overall sales in 2015 and an increased demand of gold-backed exchange trade. Additionally, bullion prices fell to $1,167.90 per ounce, an 8% decrease, surging interest and the demand of physical gold.

Experts are hopeful these record sales will help stabilize the gold market in 2017.

Did you enjoy this read? Try How Do Election Years Affect The Gold Market

Since 1979, Bellevue Rare Coins has been a trusted, family-owned business serving the Greater Seattle Area with locations in Bellevue, Lynnwood, Issaquah, and West Seattle. Specializing in gold, silver, diamond, and jewelry purchasing, in addition to dealing in rare coins. We now offer a vast selection of fine, vintage and custom designed jewelry. Visit anyone of our three friendly locations for the best deals selling or buying.

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