Bloomberg News

U.S. Mint Gold-Coin Sales Rise to 127,000 Ounces This Month

January 18, 2013

Sales of American Eagle gold coins so far this month are 67 percent higher than the total for December, according to data from the U.S. Mint. Silver-coin sales also gained.

Gold-coin sales reached an estimated 127,000 ounces, compared with 76,000 ounces in December, data from the mint’s website show. In January 2012, the total was 127,000 ounces.

Danske Bank A/S (DANSKE), Credit Suisse Group AG and UniCredit SpA (UCG), the three most-accurate gold forecasters tracked by Bloomberg Rankings over the past two years, project record average prices for gold in 2013, after 12 straight annual increases for the metal. Central-bank stimulus will sustain buying as a hedge against inflation and currency devaluation, they said.

“The physical market in gold and silver has picked up over the past several months,” Scott Carter, the chief executive officer at Los Angeles-based Lear Capital, said in a telephone interview. “There’s a real drive for diversification with metals because of concerns about national debt and currency devaluation.”

Silver-coin sales this month are at 6.01 million ounces, compared with 1.64 million in December. The mint said yesterday that said it sold out of 2013 American Eagle silver coins and will resume sales on or about the week of Jan. 28, when inventory is replenished.

To contact the reporter on this story: Joe Richter in New York at jrichter1@bloomberg.net

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net


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