Monday, January 16, 2017
A new year means new editions of gold bullion coins to collect and the US Mint is reporting a higher first day demand for its 2017 American Eagles than last year’s variation.
Available in four sizes, ranging from one troy ounce to one-tenth of a troy ounce, a total of 68,000 ounces were sold on January 9, the first day they became available. The figure is 8,000 higher than in 2016, or up around 15 per cent.
The most popular was the one troy ounce American Eagle, which sold 46,000 compared to 41,500 first day sales a year earlier. There were also improvements in the half-ounce sales, up to 16,000 from 12,000; quarter ounce coins sold 26,000 compared to 22,000 in 2016; and the tenth of an ounce variety shifted 75,000 coins compared to 70,000 the year before.
However, fewer buyers were tempted by the one troy ounce Buffalo coin, which sold 20,500 on its first day – 500 fewer than on its initial release in 2016. However, it shifted a further 2,000 on its second day of sales, Numismatic News reported.
The strong demand wasn’t just limited to gold bullion coins; collectible silver coins also had better first day sales in 2017 than they did in 2016. This year, official buyers snapped up 3,747,500 silver American Eagles – a rise of 35 per cent on the previous year.
The high demand from buyers to start the new year comes after a good performance at the start to 2016 when a total of 5,954,500 silver American Eagles, 124,000 ounces of Gold Eagles and 34,000 Gold Buffaloes were sold during January.
Last year, 985,000 ounces of American Eagle coins were sold – the highest number since 2011 - 219,500 American Buffaloes were shifted, marking the coin’s fourth most successful year, and the silver American Eagle had its fifth most successful year on record with 37.7 million ounces sold.