US Mint Gold Coin Sales Hit New Peak in March

SEATTLE (Scrap Monster): The World Gold Council published its latest Gold Market Commentary. The report says that U.S. Mint gold coin sales hit the highest level since 1999. It reported extremely strong buying activity during the initial three-month period of the current year.

The sales of American Eagle coins amounted to 55,500 oz in March 2021, said the WGC report. The sales were valued at $94 million. The year-to-date sales totalled 401,500 oz valued at around $720 million. This is the third strongest quarter of gold coin sales after 1999 and 1987. It must be noted that sales had totalled 694,000 oz and 420,500 oz in 1999 and 1987 respectively.

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The Perth Mint too reported significantly higher levels of buying during the month. The sales during the month of February this year stood at 124,104 oz, which is substantially higher by 441% over the same month a year before. The sales posted gains of 63.1% from January this year. The year-to-date gold sales by the Mint were 200,027 oz, which is higher by 181% when matched with the sales of 71,220 oz in Jan-Feb ’20.

The U.S. consumers reported greater levels of retail participation. The consumer demand remained strong in Germany during the initial quarter of 2021, WGC noted.