Mint gold coin sales saw a strong recovery in January after the weakest year on record in 2019. U.S. Mint Gold Coin Sales jump in 2020 as investors turn to the precious metal for safety. The latest data from the U.S. Mint show a significant recovery with gold coin sales. The new year started with a bang. Important to note is that January is traditionally the strongest month of the year for the U.S. Mint.
Does this mean that the trend will continue for the rest of the year?
A total of 60,000 ounces of the gold American Eagle coins were sold in January, which is a staggering increase of 2,900% from the previous month that saw only 2,000 ounces sold, according to the U.S. Mint data. This also marked the most ounces sold on a monthly basis since January 2019, which stood at 65,000.
Silver Sales are Exploding
So how is silver doing? It seems that silver is outdoing gold. From the silver side of things, the U.S. Mint sold a total of 3,846,000 one-ounce American Eagle coins in January. This is a massive uptick from zero ounces sold in December and 463,000 ounces sold in November. Governments around the world will continue to print money and keep interest rates either unchanged or lower. This would be bullish for the precious metals.
The recent events in China are going to have an effect of Global productivity. In turn the governments of the developed nations will act by printing money and lowering interest rates. What this is doing is driving people into the protection of gold and silver. Most of these investors resort to buying etf’s Don’t forget that these etf’s have to be backed by something and could cause a shortage of gold and silver.
U.S. Mint Silver Coins jump in Price in 2020
Collectors will be paying more in 2020 for United States Mint numismatic products. The U.S. Mint published information for several upcoming collectibles and their prices compared to companion products from last year are from 80 cents to $23.30 higher.
Products affected include annual sets, rolls of quarters, bags of quarters, sets of quarters, rolls of dollars, bags of dollars, boxes of dollars, reverse proof dollars, silver coins, and silver medals.
Prices of silver products moved up the most.
The following table lists the Mint’s numismatic products, their prices, and how much they changed from 2019.
|2019 Reverse Proof New Jersey American Innovation Dollar||$11.50||$1.55|
|2019 Reverse Proof Georgia American Innovation Dollar||$11.50||$1.55|
|2020 ATB Quarters Proof Set||$18.50||$2.55|
|2020 ATB Silver Proof Set||$42.50||$5.55|
|2020 Proof Set||$32.00||$4.05|
|2020 Birth Set||$23.00||$3.05|
|2020 Happy Birthday Coin Set||$23.00||$3.05|
|2020 Congratulations Set||$65.50||$8.55|
|2020 National Park of American Samoa Quarter Three-Roll Set||$49.25||$2.30|
|2020 National Park of American Samoa Quarter Two-Roll Set||$34.50||$1.55|
|2020 National Park of American Samoa Quarter 40-Coin Roll||$19.75||$0.80|
|2020 National Park of American Samoa Quarter 100-Coin Bag||$36.75||$1.80|
|2020 National Park of American Samoa Quarters Three-Coin Set||$11.50||$1.55|
|2020 National Park of American Samoa Five Ounce|
Uncirculated Silver Coin
|2020 Native American $1 Coin Roll||$34.50||$1.55|
|2020 Native American $1 Coin 250-Coin Box||$289.75||$13.80|
|2020 Native American $1 100-Coin Bag||$117.50||$5.55|
|2020 Proof American Silver Eagle||$64.50||$8.55|
|Andrew Jackson Presidential Silver Medal||$46.00||$6.05|