See How US Mint Gold Coin Sales Fared In January 2010 Directly At GoldCoin.net

Reflecting the soft demand in the current market, gold coins sales at the US Mint fell in January. A 2.3% price decrease in gold spot price led to the drop, which saw 85,000 American Eagle gold coins sold, 8% lower than the same-month totals of 2009 and more than 30,000 less than sold in December, 2009.

Launched on January 19th, buyers were forced to include 2009 Gold Eagles in their purchase as the Mint sought to eliminate the remaining inventory of the outdated coins. First day totals were impressive, with 49,000 on the 19th and an additional 20,000 sold on the 20th; this momentum was not sustained as only 16,000 more were sold in the nearly two weeks that followed.

The weak gold coin sales are consistent with both the lower gold prices and sudden upswing in the US dollar, which has been energized by monetary problems in other countries. Gold has been in a correction cycle, waiting for the dollar to decline; many analysts see demand picking up from both private investors and ETFs as the dollar’s run wanes.

With the expectation of increased demand and prices for gold coins, now is an excellent time to consider adding gold to your portfolio. Since spot prices have fallen, bullion can be purchased in the low $1,100s per ounce; this price is appealing as many analysts predict higher prices for the year, some even suggesting highs reaching the mid-$1,300s. Now is an excellent time to add gold and potentially profit from the lower prices and demand that occurred in January. 

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Kevin Johnson

Senior Staff Writer - GoldCoin.net