U.S. Mint Sales Report Shows 2012 Proof Gold Eagles Surge
Posted by Adam King on November 28, 2012
Collectors appear to be cherry-picking products, according to the latest sales report from the U.S. Mint. There is a demand on the part of dealers for certain products with the 2012 Proof Gold Eagles, the Making American History Coin and Currency Set moving notably higher compared to numbers from last week.
Sales at the Mint have been strong lately almost regardless of the fluctuations in the gold market. Partially, this is attributed to the initiation and ending of certain sales products as well as the time of the year.
U.S. gold futures for February delivery lost some ground, trading $25.50 lower to $1,720.00 per troy ounce in early trade on Wednesday. The spot price of gold also lost about the same percentage, moving $26.50 lower to $1,715.75 per troy ounce.
The unexpected sell-out of individual one-half ounce 2012 Proof Gold Eagle Coins appears to have also motivated collectors to accelerate purchases for the remaining options from the set. Individual one-ounce coins sold 1,189 units for the week, tripling amounts from the week prior. One-quarter ounce coins from the set more than doubled from the previous week to 451 units. The one-tenth ounce coins and four coin sets also gained moderate advances, rounding out the set.
The Making American History Coin and Currency set, issued to celebrate 220 years of the United States Mint and 150 years of the Bureau of Engraving and Printing, also made big moves this week, according to the Mint’s report. The set includes the 2012 Proof Silver Eagle with “S” mintmark and a $5 note with a serial number beginning with 150. Weekly sales for the set reached 4,974 units, putting the total for the set at 51,868. Initially, the Mint indicated a production of only 50,000, but they also indicated an established product limit of up to 100,000 units based on the availability of the notes.
Sales at the U.S. Mint have been particularly strong since the beginning of November, with sales outpacing October in the first two weeks of the month.
Sales trends indicate increased buying on dips, but an overall buying sentiment that is not limited to dips in price.
US Gold Market