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U.S. Mint Sales of Gold Coins Jump to Highest in Three Years

Posted By admin On May 1, 2013 @ 10:27 am In Featured Stories,Tile | Comments Disabled

Debarati Roy
Bloomberg [1]
May 1, 2013

Sales of gold coins by the U.S. Mint rose to the highest since December 2009 after the price of the metal in April fell the most in 16 months.

Last month, sales totaled 209,500 ounces, up from 62,000 ounces in March, data on the mint’s website show. The amount for December 2009 was 231,500 ounces. Silver-coin sales rose to 4.2 million ounces from 3.36 million in March.

Demand surged at mints from Australia to the U.K. and the U.S. after futures slumped 13 percent in two days through April 15. Gold futures tumbled 7.8 percent last month and dropped into a bear market as some investors lost faith in the metal as a store of value. Perth Mint, which refines almost all of the nation’s bullion, said that demand jumped to the highest in five years after prices plunged, with the factory kept open through the weekend to meet orders.

“People are flocking to buy physical gold,” Todd Dutkevitch, a senior account executive at Los Angeles-based American Bullion Inc., said in a phone interview. “The price drop has made it possible for many retail buyers to add gold.”

Full article here [1]

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URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/news/2013-04-30/u-s-mint-sales-of-gold-coins-at-three-year-high-on-price-drop.html

[2] Perth Mint Demand Highest Since Lehman Brothers, Refines Coins, Bars During Weekend: http://www.prisonplanet.com/perth-mint-demand-highest-since-lehman-brothers-refines-coins-bars-during-weekend.html

[3] US Mint to Suspend American Eagle Gold 1-Ounce Coins: http://www.prisonplanet.com/us-mint-to-suspend-american-eagle-gold-1-ounce-coins.html

[4] Mint runs out of 2013 silver coins, suspends sales: http://www.prisonplanet.com/mint-runs-out-of-2013-silver-coins-suspends-sales.html

[5] US Mint Sells More Gold Coins In May Than Any Month Since January 1999: http://www.prisonplanet.com/us-mint-sells-more-gold-coins-in-may-than-any-month-since-january-1999.html

[6] US Mint Runs Out Of Buffalo Gold Coins, Will Not Restock: http://www.prisonplanet.com/us-mint-runs-out-of-buffalo-gold-coins-will-not-restock.html

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