NEW YORK (Commodity news world ): Gold Eagle coin sales by the US Mint saw a more than 80% drop in February, following blockbuster sales in January. This is the lowest monthly sales since January 2008.
A total of 21,000 ounces of Gold Eagles were sold in February, 83% down from the record 127,000 ounce sale in January. American Buffalo Gold coin sales fell from 13,500 ounces in January to 7,000 ounces in February.
Sales of Silver Eagle coins fell from 6.1 million ounces in January to 1.5 million ounces in February, a drop of 75%.
Most analysts had believed that the record sales in January were mostly due to new year buying and conversion of pending sales to actual sales. Historically, this has often proven true with the start of the year mostly a blockbuster start.
The American Gold Eagle is the official gold bullion coin of the US, first released by the US Mint in 1986
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