During the months of September, October and November 2018, we saw a year over year spike to the upside in ASE sales to the Authorized Purchasers (AP’s). Not sure what constituted this spike, but the numbers are below for you to see for yourself. September and November were extremely dramatic increases. For example in September 2018 there was close to a 7 fold increase year over year.
Both Gold and Silver Eagles are suffering this year. It appears the metals consumer is completely broke. Can the profits, and loses, from gambling in the cryptocurrency markets be playing a role? I would say yes. As 2018 has progressed, and cryptocurrencies have continued to get hammered to the downside, Eagle sales have followed suit. The only relief, for Silver Eagles, coming in September, October and November 2018.
Gold Eagles really took off beginning July and haven’t looked back. It appears both metals are going to be way off 2017 sales by high percentage numbers. Gold, if December holds the line, will be down somewhere around 5-6% year over year, while Silver Eagles will be down upwards of 12%.
Here is what Reuters reported about a week ago.
(In the Nov 30 item, the U.S. Mint incorrectly reported that November sales of American Eagle gold coins fell 67.3 percent from the previous month to 8,000 oz, when, in fact the coin sales fell 16 percent to 20,500 oz in November. The U.S. Mint also incorrectly reported that November sales of American Eagle silver coins fell 11.2 percent to 1.27 million oz, when, in fact, the coin sales increased 15 percent to 1.645 million oz. Also corrects year-to-date totals for both metals and the headline.)
NEW YORK, Nov 30 (Reuters) – The U.S. Mint sold 20,500 ounces of American Eagle gold coins in November, down 16 percent from the previous month, according to the latest data.
(in ounces)
Gold Silver Platinum
2018 2017 2018 2017 2018
January 58,500 117,500 3,235,000 5,127,500 n/a
February 5,500 27,500 942,500 1,215,000 20,000
March 3,500 21,000 915,000 1,615,000 n/a
April 4,500 6,000 915,000 835,000 n/a
May 24,000 15,500 380,000 2,455,000 10,000
June 24,500 6,000 435,000 986,000 n/a
July 35,000 17,500 885,000 2,320,000 n/a
August 21,500 9,500 1,530,000 1,025,000 n/a
September 20,500 11,500 2,897,500 320,000 n/a
October 24,500 15,500 1,430,000 1,040,000 n/a
November 20,500 12,000 1,645,000 385,000 n/a
YTD Total 242,500 259,500 15,210,000 17,323,500 30,000
New York newsroom
