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U.S. Mint Sells the Most Gold American Eagles Since 1999

U.S. Mint Sells the Most Gold American Eagles Since 1999

April 07, 20221016 view(s)

The latest sales figures from the United States Mint show the highest Gold American Eagle sales in the last 23 years. In the first quarter of 2022, the U.S. Mint sold 426,500 ounces of the various sizes of the Gold American Eagle. This is up 14,500 ounces from quarter one of 2021 or a 3.4% increase.

 

The record sales quarter took place as 40-year high inflation numbers of 7.9% were reported by Fortune Russia invaded Ukraine, sending oil prices to 13-year highs. The price of gold hit all-time highs with the litany of economic and political crises, people are fleeing from the dollar and the demand for precious metals has been surging.

 

The U.S. Mint also released the 2022 Gold American Eagle Proof 4 Coin Sets during Q1. The Gold American Eagle 4-coin Proof sets consist of a one-ounce $50 coin, a ½-ounce $25 coin, a ¼-ounce $10 coin and a 1/10-ounce $5 coin. The mintage was 10,000 with a strict one set per household limit. With the demand for gold so high, the U.S. Mint sold out within minutes. Most sets sold are currently on backorder with a projected mid-summer delivery. Record-high demand is placing a strain on the gold supply chain. The order in the screenshot was taken approximately four to five minutes after the sets initially went on sale. It was immediately listed as backorder with the order confirmation. 

 

Screenshot from author’s U.S. Mint account page
Screenshot from author’s U.S. Mint account page

 

In 2021, the U.S. Mint redesigned the Gold American Eagles. The U.S. Mint released both the old design and new design in small mintages called type 1 and type 2. Both type 1 and type 2 have been highly sought by investors and collectors. Both the type 1 and type 2  Gold American Eagle sets have already increased significantly in price  and have been hard for dealers to keep in stock. At the time this article is written, the type 1 Gold American Eagle PF70 4-coin have already increased in price by 19% in a year and the Gold American Eagle type 2 sets have increased in price by 8% since being released just seven months ago. Since the investment grade Gold American Eagle PF70 4-coin sets are recommended to hold for at least five years for best return on investment, the type 1 and type 2 Gold American Eagle PF70 4-coin sets are going to be very exciting to watch grow in the coming years. 

 

Gold American Eagle PF70 4-coin sets
Gold American Eagle PF70 4-coin sets

 

 

The 2022 Gold American Eagle 4-coin proof sets are the first year with only the type 2 design. The demand is high, and supply is very tight and will remain so for the foreseeable future.

 

2022 Gold American Eagle 4-coin proof sets

The U.S. Gold Bureau is very proud to partner with the 38th United States Mint Director Ed Moy and offers the 2022 Gold American Eagle PF70 4-coin sets with the Ed Moy hand signature for sale on April 14, 2022. Supplies will be limited and will be on a first-come-first-served basis. It is probably safe to assume longer than standard ship times, but it will be worth every dollar and day of waiting. Your best shot of being one of the lucky few to acquire one of these coins is to sign up to be notified  or contact your precious metals expert at (800) 775-3504. 

 

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This article expresses the viewpoints of one of our precious metals specialists, based on recent news reports and opinion-based analysis of the situation. This information should in no way be taken as professional investment advice. As always, we encourage you to talk to your financial advisor before making any investment decisions.

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Ryan Watkins, Op-Ed ContributorbyRyan Watkins, Op-Ed Contributor
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