NEW YORK (Commodity Online): August has been one of the best months for sales of Gold and Silver bullion coins in the United States. US Mint bullion coins rallied in August, and the feat is astonishing as August is typically a slow month for bullion as compared to the seasonally stronger fall and winter months, says a report from coinnews.net.
According to the web site:
**24-karat American Gold Buffalo bullion coins rose 28,000 in August, more than doubling the previous month. The 2011-dated issues were introduced in March, which remains the top month with sales of 38,000.
**One-ounce 22-karat American Gold Eagle bullion coins advanced 103,500 in August, substantially surpassing all but the 2011-dated introduction month of January. Across all sizes, 112,000 ounces sold in August. In contrast, 64,500 ounces departed United States Mint inventories in July and 61,500 ounces in June.
**American Silver Eagle bullion coins reached 3,679,500 in August, easily marking the second best month in 2011 and coming in as the fourth best selling month since the series was introduced in 1986. January 2011 continues to hold the record at 6,422,000, followed by November 2010 (4,260,000) and December 1986 (3,696,000).
Volatile Gold and Silver prices coupled with United States Mint product suspensions seemed to have finally taken a toll on sales of collector gold and silver coins. A few examples:
2011 Proof American Silver Eagles were suspended for most of last week. While logging mid 30,000 gains during each of the previous two weeks, their latest weekly advance was cut by two-thirds to 10,593.
Sales fell for silver medals in commemoration of the 10th anniversary of 9/11. Each of their three previous weekly gains hit at least 17,000. The latest was just 418. West Point struck 9/11 Silver Medals are now at 95,637 while Philadelphia minted medals are at 56,679.
One-ounce 2011 Proof American Gold Eagles added 255. The last two weekly increases were 2,104 and 1,255.
The Mint’s top five numismatic product sellers have significantly lower totals than previous weeks in August.
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