Strong Demand Persists for Gold Coins

Sales of U.S. Mint-issued gold coins remain strong in the early months of 2021, continuing the rapid sales pace of 2020.

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Sales of U.S. Gold Eagle bullion coins exceeded 220,000 ounces in January, the highest monthly total since December of 2009, at the tail end of the financial crisis, and the largest January figure since the turn of the century.  Gold Eagle sales were just over 125,000 ounces in February, also the highest for the month during the 21st century.

These totals come after a year in which U.S. demand for gold coins and bars hit nearly $3.8 billion, the highest total since 2011.

Demand for gold bullion continues to be driven by concern about the prospect of rising inflation, as U.S. Federal Reserve governors have repeatedly pledged their desire to push prices higher; the federal government’s aggressive money printing, notably the $1.9 trillion stimulus plan designed to revive economic activity; and, continued concerns about the persistent spread of COVID-19, which may continue inflicting economic damage across the globe, particularly in regions that have limited access to vaccines. Because families have spent little on travel, restaurants, and leisure activities during the pandemic, savings are rising for families who have a wealth cushion. Some of those funds are allocated to gold. Supplies of the American Gold Eagle will be limited this spring as the U.S. Mint is in the process of changing its design for the collectible coins. The Mint is expected to debut a new design this summer.

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