Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

American Gold Eagle Bullion Coin Sales Hit 20-Year High in Q1

  by    0   1

While gold prices have languished over the last few months, smart investors have taken advantage of the low prices and loaded up on physical gold.

For Q1, the US Mint reported its highest quarterly American Gold Eagle sales in more than 20 years.

According to its data, the US Mint sold 412,000 ounces of American Gold Eagles in varying denominations through the first quarter. It was an 88% increase over the first quarter of last year and the largest quarterly sales volume for American Eagles since Q3 1999.

This continues a trend we saw last year. American Gold Eagle bullion coin sales were up 455% in 2020.

While overall demand for gold was down globally in 2020, investment demand hit record levels, according to the World Gold Council. Globally gold coin sales reached a record high of 297.6 tons last year. That was 10% above the previous high of 271 tons set in 2013.

American Silver Eagle sales also boomed in Q1, with sales totaling 12,053,500 ounces. That represents a 20.8% year-on-year increase.

Strong sales came despite the mint rationing sales of Silver Eagles, and also allocating gold and platinum coin sales to authorized purchasers only.

Incrementum AG Ronald-Peter Stoeferle told Kitco News that investors are trying to protect themselves against the rising threat of inflation.

In a world of uncertainty, investors are eager to get their hands on physical gold. This rise in physical demand will provide important support for gold’s long-term bull market.”

Stoeferle noted that Comex delivered 113 tons of physical gold to investors in February alone. That was about five times the historical average.

Peter Schiff has pointed out that we are currently adrift in a sea of inflation, despite official assurances that it’s “transitory” and of no real concern. And ultimately, the Fed will be powerless to fight rising price inflation.

What they should be worried about is that the Fed will do nothing about it. And that’s what’s worse. Because that means the higher inflation that they’re concerned about is actually going to be much higher than they think for the precise reason that what they’re afraid of – the Fed doing something about it – won’t happen because the Fed will do nothing about it, and so the real damage caused by inflation will be much worse.”

Investors looking to buy more US Gold and Silver American Eagles could face a supply squeeze this year. Mint officials said there is a limited window to produce gold and silver coins this year due to the release of redesigned coins scheduled for this summer.

Download SchiffGold's Gold vs GLD EFT's Guide Today

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

Summer Feeling Hotter Than Usual? Gold Could Be Too.

Certain climate scientists, research economists, and precious metal investors agree: This year could be one of the hottest on record.

READ MORE →

Metal of the future? Gold‘s uses in technology

While demand for Gold as an investment has risen greatly historically, and particularly over the past year, recent technological discoveries provide powerful potential for Gold to increase in prominence as an industrial resource. While gold does provide an excellent and relatively safe store of value, its industrial use could rapidly increase its price and universal […]

READ MORE →

Gold’s Natural Scarcity Propels its Valuation Growth

The U.S. abandoned the gold standard in 1933. But ninety-one years later, in the midst of an inflation crisis, investors are flocking back to the original. The U.S. government is set to print about $200 billion in bills in 2024. That’s $548 million for every day. Despite the rampant inflation reducing consumer purchasing power around […]

READ MORE →

SchiffGold Exclusive: Utah State Representative Speaks on New Precious Metals Law

As the U.S. economy progresses toward monetary catastrophe, individual states are taking action to preserve and enable the use of sound money. Utah recently passed HB 348, which took effect in May and authorizes the state to invest a portion of its funds in precious metals. State Representative Ken Ivory sponsored the bill, and in […]

READ MORE →

Chinese Central Bank Halts Gold Acquisitions

China has called quits on its 18-month gold buying spree, causing precious metal prices to stumble this week as the world’s largest buyer unexpectedly closes its tab. In 2023, the People’s Bank of China purchased more gold than any of the world’s other central banks, swelling its reserves of the precious metal to more than […]

READ MORE →

Comments are closed.

Call Now