The new year was off to a remarkable start at the U.S. Mint, which sold a tremendous number of American silver eagle and American gold eagle coins in January. As many in the bullion community know, the U.S. Mint tends to see a marked increase in orders during the first weeks of the new year, but the rather low silver and gold prices that have persisted since 2014 4Q has only quickened the pace for orders.
The October 2014 American eagle coin sales report is in, and what a wild month it has been. Apropos for a Halloween report, it was an October of both tricks and treats in the bullion coin market.
When I went to sleep last night, silver was at $17.04 and gold was trading at $1210. All morning long today, I’ve been watching prices for both metals trend downward, and where it will end up is anybody’s guess. This event, of course, is causing some discomfort for bullion investors who purchased American silver eagles and American gold eagles over the past couple weeks, as metals prices looked to be rebounding from lows in early October.
We’ve only barely gotten into the first couple weeks of October and already the month is off to a roaring start for gold and silver bullion coin sales at the United States Mint.