American Eagle gold and silver bullion sales slowed significantly in February compared to January and to the same month a year ago, figures from the United States Mint show. In addition, their year-to-date sales are weaker than the same time in 2022.
In February, American Eagle gold bullion coins increased by a combined 57,000 ounces, registering declines of 65.1% from 163,500 ounces in January and 36.3% from 89,500 ounces in February 2022. Their sales year to date at 220,500 ounces are 18.6% lower than the 271,000 ounces sold during the first two months of last year.
American Eagle silver bullion sales for the month advanced by 900,000 ounces, posting declines of 77.2% from 3,949,000 ounces in January and 40% from 1,500,000 ounces in February 2022. For the year, their sales at 4,849,000 ounces are 25.4% lower than the 6,501,000 ounces delivered through the same period last year.
American Buffalo gold bullion sales in February moved up by 19,500 ounces, logging declines of 67% from 59,000 ounces in January and 31.6% from 28,500 ounces in February 2022. American Gold Buffalo sales for the year so far at 78,500 ounces are 12.8% lower than the 90,000 ounces sold during the first two months of last year.
The U.S. Mint has not yet released 2023 American Platinum Eagles. The Mint released last year’s 1-ounce platinum coin in March, selling 25,800.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
| U.S. Mint Bullion Sales (# of coins) | ||||
|---|---|---|---|---|
| Feb 2022 | Jan 2023 | Feb 2023 | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 86,000 | 118,000 | 41,500 | 159,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 37,000 | 8,000 | 45,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 4,000 | 62,000 | 12,000 | 74,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 25,000 | 115,000 | 85,000 | 200,000 |
| $50 American Buffalo 1 Oz Gold Coin | 28,500 | 59,000 | 19,500 | 78,500 |
| $1 American Eagle 1 Oz Silver Coin | 1,500,000 | 3,949,000 | 900,000 | 4,849,000 |
| $100 American Eagle 1 Oz Platinum Coin | 25,800 | 0 | 0 | 0 |
What’s going on? The Mint charges close to $60 to press a 1ounce silver coin, over spot, and sales haven’t increases dramatically. Man, I didn’t see that coming!
Amen. I think the US Mint is killing the collector market because the premium is way too high.
Once the big guy gets out of office, maybe they’ll lower it by 10%. Also. They aren’t collectible if they mass produce and unlimited availability. I think another contributing factor is a glut of types to collect. Trying to appease to too many demographics. Many of the woke also claim poverty and unfair wages so no disposable income for that. However, I did see 95% of the casino this weekend was full of them. Maybe they’ll cash put winnings and buy some of their coins.
I don’t think so Kaiser as the casino is the usual winner. Hopefully DC came away with a bit more than he went in with.
These stats show, obviously, that even the U.S. Mint’s bullion version coin “Authorized Purchasers” coin dealers are not placing big orders this year. That means the AP’s customers are not ordering as many silver & gold bullion coins as in the recent past.
Wonder why?
Their are only 13 APs that can purchase these bullion version coins directly from the U.S. Mint – 10 in the USA, 2 in Germany & 1 in Japan.
NumisdudeTX
I lived for 3 years on Misawa Air Force Base in Japan & for 3 years in Germany at our smallest & most secret National Security Agency Base in Bavaria. I attended my first 3 years of high school at our Department of Defense’s Munich American High School. My coin/token/medals/paper money collecting really took off there. Fun times!
NumisdudeTX
Lederhosen for everyone!
I call it like I see it…I’ve been purchasing coins & medals from the U.S. Mint every year since 1976, numerous orders each year. I give them kudos when they deserve it & point out shortcomings when I see them. Having worked as a professional numismatic journalist after college full-time, I’ve seen just about everything behind the scenes in the tripartite numismatic hobby/industry/science. Besides, isn’t being critical of any government bureau our “job” as citizens to keep them on their toes. The Mint has been in trouble numerous times with the Treasury Department’s Office of Inspector General over the years… Read more »
Well said Seth. I’ve been buying coins from the Mint for years, some years spending $10k plus, so when I see deficiencies with it I’ll say so. If major d wants to pay out his ask for a product from the Mint, in a cheap cardboard box no less, that’s his prerogative. And is the Mint a business like the USPS.. I don’t think that business costs us a cent either.
Bravo Seth.
US Mint rules the roost as it should be since they press the coins & medals – “you can’t fight city hall” rings a bell here. But like you say, positive and negative comments are needed and warranted to keep them in check.
Keep up the good work here folks in doing this.
Of course, but pricing versus rarity is another matter Major D. This year’s Proof “W” ASE $1 coin will have a mintage/sales figure of more than 500,000 coins…it will never be rare coin in its OGP/OMP…the only way an investor or collector will make a profit is if they spend a lot for authentication/grading with PCGS or NGC & are lucky enough to get a top 70 grade. As far as buying one or two for a true collection it is of course just a matter of a collector’s budget, since the Mint has nearly 300 products per year recently… Read more »
Major D, the Mint puts out fine products. The issue on pricing is merited by folks here as Mint only produces a few products each year and in large volumes. Other mints around the world produce more varieties of coins/medals per year in smaller volumes meriting their higher prices. Mint used an excuse for raising prices couple/few years back to be be competitive in pricing with these other mints. Even low mintages by US Mint at 10,000 or 75,000 items is considered high compared to other countries that press 500, 1,000, 1,500, 2,500 or 5,000 coins/medals. Yes, pressings like proofs… Read more »
Very good point Major D about the authorized purchasing program coming from congressional action. Makes it impossible then for the Mint to open bullion sales to general public. I still make comments about this in the Mint surveys I complete.
Some of those world mint small runs are quite impressive and some aren’t, especially the colorized ones.
To be fair. UK is way smaller and much fewer people than America. China and India and Russia are a huge gold bugs and getting from Australia can be difficult. Due to weight it makes sense that UK or Perth or Australia mint provides the metals to Asia Europe and Africa and Australia. South America is much poorer and besides they have their own gold, just ask the Europeans from the 1500s to 1700s. Not many Russians care if queen or king is on it or a cute koala or musical instruments. Canada has its own Klondike gold. So for… Read more »
This guy enjoys stacking Kaiser 😉
Good one Kaiser. DeForest Kelly came from a wealthy family who manufactured vacuum tubes so maybe during the Depression some of his family members were stacking coins? 😉
Bet sales are shooting up here in March
After 50 years of coin collecting, I will no longer purchase coins via the US Mint! The inflation of pricing silver/gold coinage is ridiculous! No more!
Probably due to their ridiculous price hikes