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Data from U.S. Mint Shows April Gold Coins Sales Up 46 Percent

April 22, 2013 - Sales of gold coins skyrocketed by 46 percent in April as of Tuesday last week, according to the U.S. Mint’s official figures, as investors reentered the market at a lower price point following the recent market dip.

On Tuesday of last week, the U.S. Mint reported sales of 83,500 ounces of gold, by Wednesday that number increased to 122,000 ounces of gold coins, and currently figures stand at 147,000 ounces of gold coins, compared with just 22,000 ounces sold in all of April in 2012. Currently, the totals are six times those from the same month last year and year to date sale show an increase of 79 percent from 2012.

Market action on Monday showed markets and traders getting on the rally bandwagon with U.S. gold futures for June delivery up $28.50, or 2.04 percent, to $1,422.80 per troy ounce. The spot price of gold gained $20.22, or 1.44 percent, to $1,423.66 per troy ounce.

Sales at the U.S. Mint, which have skyrocketed since the fourth quarter of 2012, are taken as an indication of investor demand for physical gold bullion by investors and market traders. Authorized distributors orders for gold coinage from the U.S. Mint has become an important technical indicator for the health of the gold market.

Following the most significant two-session selloff on Friday and Monday of gold futures ever recorded, coin dealers from Tokyo to Dubai to Hong Kong have reported a surge in sales of gold coins on the price drop. Traders in Singapore are already reporting a seven-week wait for delivery on orders from the U.S. Mint, according to Bloomberg.

Premiums on both silver and gold coins are showing an increase from the start of the year, with levels up to 5 percent on gold coins, which sold at a 3 percent premium in January, and 18 percent on silver coins, which sold for a 15 percent premium in January.

GregorGregersen, director at Singapore-based Silver Bullion Pte.Ltd, said the premium for coins is getting higher and higher as they’re harder to get hold of and, as people see that, some of them are going into a panic.

Sales of gold coins in January of 2013 reached 150,000 ounces, the highest rate recorded by the U.S. Mint since mid-2010. Current sales totals indicate April will go on record as completing the most significant buying period in the Mint’s bullion coin program since its inception in 1986, twenty-seven years ago.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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