According to production figures from the U.S. Mint, sales of American Gold Eagle bullion coins in December totaled 65,500 ounces, an increase of 9.2% from December 2010. Total sales of gold bullion coins for 2011 declined by 18% from the prior year. For all of 2011, a total of 1,000,000 ounces were sold compared to previous year sales of 1,220,500 ounces.
The sales figures cited above do not include gold numismatic coins sold by the U.S. Mint. Collector versions of gold coins such as the American Buffalo Gold Proof Coin can be purchased directly by the public from the U.S. Mint.
Although sales of gold bullion coins increased during August and September when gold was soaring to all time highs, the largest monthly sales of gold bullion coins occurred in January when gold was trading in the $1,350 range (please see chart below for monthly sales figures).
The American Gold Eagle bullion coins cannot be directly purchased by the public from the U.S. Mint. Instead, a network of authorized purchasers (AP's) buys the coins in bulk from the Mint at a fixed markup. The AP's in turn resell them to secondary retailers for public sale. The AP distribution system established by the U.S. Mint was determined to be the most efficient method for selling gold bullion coins to the public at competitive prices.For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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