Coin News Net/1-9-2017
“U.S. Mint distributors spent a good deal of money buying just released 2017-dated American Eagle and Buffalo bullion coins. There was some pent-up demand with popular 2016-dated editions selling out in early December.
First-day sales of 2017 America Silver Eagles hit 3,747,500 coins, marking a 36% increase over the opening day total of 2,756,500 coins for last year’s release. The one-day tally is already higher than half of the monthly totals logged in 2016.
A combined 68,000 ounces in American Gold Eagles sold on Monday, up 13.3% from opening day sales in 2016 of 60,000 ounces.”
MK note: More direct evidence of physical demand. The lion’s share of gold and silver American Eagle bullion coin demand originates in the United States and is taken up by U.S.-based investors.
By the way, we should reiterate our warnings about purchasing bullion coins – proof or business strike – issued by grading services as perfect Proof or Mint State 70 and sold for very high mark-ups by various dealers. Almost all the coins purchased from the Mint and submitted to the grading services would end up in the “69” or “70” categorization. There is nothing special about this though it is endlessly promoted, particularly this time of year at first issue, as out of this world.. . . . . ..NOT SO!
If someone is trying to sell you on this concept BEWARE. Read here.
