As the summer heats up, so, too, have bullion coin sales at the United States Mint. While the distribution of American Eagle silver and gold coins was relatively cool in May, the June numbers indicate a much more active bullion market. While the year has continued on without any American Platinum Eagle coin sales, the gold and silver coins have taken off to heights generally not seen since January 2015.
|May 2015||June 2015|
|1 Oz. American Silver Eagle||2,023,500||4,840,000|
|1 Oz. American Gold Eagle||13,500||62,500|
|1/2 Oz. American Gold Eagle||3,000||4,000|
|1/4 Oz. American Gold Eagle||10,000||12,000|
|1/10 Oz. American Gold Eagle||40,000||85,000|
What Do the Numbers Above Mean?
Three figures stand out in the above table:
- American Silver Eagle sales have doubled in June
- 1 Oz. American Gold Eagle sales more than quadrupled since May
- 1/10 Oz. American Gold Eagle coins have doubled in sales during June
One of the most important driving forces behind these figures is that bullion prices took a tumble during the month of June, making gold and silver much more affordable for investors – and signaling possible bargains for those who want to get in on the bullion game before prices potentially skyrocket again.
Gold prices hit $1,230 in the middle of May – one of the highest prices since the early part of the year. In June, gold prices barely ever exceeded $1,200, and for the most part the per-ounce price of gold stayed in the $1,170-1,190 range.
Meanwhile, silver prices, also coming off a robust May, stayed relatively low in June. While silver hit around $17.80 in the middle of May, or about the same time gold hit its peak during that month, the whitish metal remained under $17 during the whole of June, and it spent much of the month under $16, too.
Certainly, lower gold and silver prices fuel a spending spree for bullion investors, which is why the 1-ounce silver and gold coins as well as the 1/10-ounce gold coin – which often serves as a gold bullion gateway for thrifty investors – saw the greatest amount of activity during the softening bullion prices.
Will American Eagle Coins Still on Track to Break Records?
While it may be fun to speculate what the year-end sales totals may be for American Eagle silver and gold coins, it is very difficult to say with much accuracy what the market will shape up to be as the second half of the year gets underway. Here at Coin Values, we tend not to prognosticate because there is simply no reliable way to predict how the markets will play out for the rest of the year when there are so many volatile variables to consider.
Though there are indications that oil prices are heading downward, uncertainty in the European Union as the nation of Greece defaults on its loans may cause the markets to go haywire. As of this writing, gold sales appear strong in the wake of the news from Greece, and as the situation becomes clearer, there could be some huge upsets in many market sectors.
By the time we publish the July bullion coin report at the end of that month, we should know much more about how the situation in Greece will be handled and have clearer insight on how the bullion market responds. The market upset could result in huge numbers for bullion coins during the rest of the summer, which means year-end records could still be set if the silver and gold markets ramp up.
What Will Happen During the Rest of 2015 3Q?
It is possible that much of the 2015 3Q activity will be dictated by the Greece crisis and how the world market responds. Given the unfolding nature of the Greek financial situation as of this writing, it is difficult to say precisely what the state of the market will be in the coming weeks. What is for certain, bullion should remain strong as investors look toward silver and gold, which is always seen as a safe haven when plodding through rocky economic landscapes.
For the time being, gold and silver prices look to be staying right about where they have largely been since autumn 2014. However, if the financial crisis in Southeast Europe gets even more dicey and critical market sectors, such as oil, become more volatile, we could see gold and silver take a drastic turn.