Friday, January 1, 2016
American Gold Eagle Premiums Rise as U.S. Mint Halts Production
Louis Cammarosano of Smaulgld.com reports:
Sales of American Gold Eagle coins had been weak through the spring of 2015. Then in June, sales of all sizes of American Gold Eagle coins, like their American Silver Eagle counterparts, began to surge.
Seventy eight percent of 2015 sales of one ounce American Gold Eagle coins took place from June to November as sales increased 207 percent from the period of January to May 2015.
On November 24, 2015, the U.S. Mint announced that had sold out of one ounce American Gold Eagle coins and would produce no more for the year.
The U.S. Mint has also stopped producing the one tenth ounce and one quarter ounce American Gold Eagle coins, but is still taking orders for one half ounce American Gold Eagle and one ounce American Gold Buffalo coins.
In reaction to the American Gold Eagle production halt, premiums on American Gold Eagle coins began to rise after remaining relatively constant all year. Earlier in the year premiums on American Silver Eagle coins doubled in reaction to the U.S. Mint’s production halts and tight allocation of sales to its Authorized Purchasers.
The U.S. Mint will begin selling the 2016 dated American Gold Eagle coins on January 11, 2016.
at 9:47:00 AM