2010 American Gold Eagle Bullion Coin Sales: January, 2010

by Bullion Prices Staff on January 31, 2010

2010 American Gold Eagle Bullion Coins launched with strong opening sales. However, as of the final business day of the month on Friday, fewer eagles were sold in January 2010 at 85,000 compared to the January 2009 total of 92,000.

Demand has certainly been impacted by falling bullion prices. The London Fix for gold ended January at $1,078.50 an ounce versus the $1,104.00 price set on December 31. That is $25.50 or a 2.3% fall.

There was also a bit of a twist for Gold Eagles this month. The United States Mint normally begins striking newly dated eagles in December to have them ready for the market in January. However, with little or no inventory in reserve the US Mint was compelled to strike 2009-dated eagles late into last year and sell them into 2010. Since the 2009 inventory was not depleted by the start of the year, the Mint has required buyers to purchase both 2009 and 2010 coins together.

The 2010 Gold Eagles launched on Tuesday, January 19, with 30,500 ordered. Additionally, 18,500 of the 2009-dated eagles were purchased, bringing the single day sales to an impressive 49,000 — more than double the amount that had been sold in the 18 days prior. By Wednesday, a total of 69,000 of the 22-karat, one ounce coins were snapped up. Flash forward a dozen days and just 16,000 eagles were sold to reach the 85,000 for January.

Prior to January, monthly sales had been at or above 115,500 going back to August 2009.

For more information about this year’s gold bullion coin, to include specifications and design details, visit the coin information page 2010 American Gold Eagles.

The Mint does not sell bullion Gold Eagles directly to the public, but instead to a small group of authorized purchasers who in turn resell them to precious metal providers, investors, dealers and collectors. These coins do not have a mint mark, unlike their numismatic counterparts.

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