U.S. Mint sales of gold and silver coins recovered in May from April, but continued to decline from sales volumes seen in 2011, according to data on the agency's website.
The Mint sold 53,000 troy ounces of gold American Eagles coins in May, more than double the 20,000 troy ounces sold in April. However, May gold coin sales volumes were down 50.5% from 107,000 troy ounces sold in May 2011.
Interest in gold coins has been weaker in 2012 as gold prices struggled to find traction. By contrast, gold's record breaking rally throughout 2011 thrust U.S. Mint coin sales higher as investors lined up to buy the bullion.
The Mint sold 283,500 troy ounces of gold coins in the first five months of 2012, down 44.9% from sales of 514,500 troy ounces in the year-ago period.
Sales of silver American Eagle coins rose 89.1% to 2,875,000 troy ounces in May, from 1,520,000 troy ounces in April, according to agency data.
However, May silver coin sales were 21.3% lower than the 3,653,500 troy ounces in the same month of 2011. . .View Full Article