Source: https://schiffgold.com/key-gold-news/us-mint-reports-exceptional-demand-for-gold-and-silver-coins-in-january/

FEBRUARY 4, 2021 BY SCHIFFGOLD

Last year’s surge in demand for investment gold and silver continued into January if sales at the US Mint are any indication.

American Silver Eagle Coins. The American Silver Eagle is the official silver bullion coin of the United States and gets minted by the US Mint. First issued in 1986, all American Silver Eagle Coins are 99.9% fine silver bullion, struck in the one troy ounce size you can buy here. Silver Coins Produced and sold for collectors, silver coins produced by the U.S. Mint are beautiful pieces of art in fine silver. Coins are produced in proof and uncirculated finishes in a variety of options. Silver Bullion Coins provide investors with a convenient and cost effective way to add silver to their investment portfolio. American Eagle Bullion Coins provide investors with a convenient and cost effective way to add gold to their investment portfolio. Pricing for bullion coins typically depends on the market price of the metal. Visit the Bullion Dealer Locator to locate a dealer - bullion coins are not sold directly by the U.S.

Silver Dollars were an immensely useful general circulation coin produced by the United States Mint for more than 140 years and today are one of the most popular types of U.S. Coins among collectors. Bust Silver Dollars were among the first minted and were only produced for a short time. At SD Bullion, you can find many silver coins for sale, but the most popular coins are the following: US Mint American Silver Eagle Coins: The official silver bullion coin of the United States is indeed the American Silver Eagle. It’s issued by the U.S. Mint and is a legal tender across the United States with a face value of $1.

American Gold Eagle bullion coin sales were up 455% in 2020 and the selling continued through the first month of 2021. The mint called the current market demand for precious metals coins “exceptional.”

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Demand for physical gold and silver surged last year as smart investors sought safe haven from a record-breaking expansion in the money supply, record federal budget deficits, and quantitative easing set to infinity. While overall demand for gold was down on the year, investment demand hit record levels, according to the World Gold Council. Globally gold coin sales reached a record high of 297.6 tons last year. That was 10% above the previous high of 271 tons set in 2013.

Investment in gold and silver didn’t appear to slow down any in January. According to the US Mint, American Gold Eagle sales were up 267% year-on-year last month, totaling 220,500 ounces. It was the strongest month for Gold Eagle sales since April 2013.

The Mint sold 884,000 ounces of American Gold Eagle coins last year.

Us Mint Silver Coins Value

Silver Eagle sales were also up year-on-year in January. The US Mint reported 4,775,000 ounces of silver American Eagle coins sold, a 24.15% increase. It was the best January for silver coin sales at the mint since 2017.

According to a Bloomberg report, the US Mint is rationing sales of Silver Eagles and also allocating gold and platinum coin sales to authorized purchasers only. In a statement, the Mint said the policy will remain in place “for the foreseeable future.”

The US Mint continues to struggle to meet high demand due to limited supplies and capacity reductions due to the coronavirus. The mint had to temporarily shut down production at its New York facility last April due to COVID 19. Due to production cuts, there were no half, quarter, or tenth-ounce Gold Eagle coins available several months last year.

Looking ahead to 2021, production issues will likely continue to be a problem. Mint officials said there is a limited window to produce gold and silver coins this year due to the release of redesigned coins scheduled for this summer.

Overall demand for physical gold should remain brisk in 2021. There is no end in sight to the borrowing, the spending, and the money printing. Peter Schiff has been predicting inflation pressures will ramp up significantly in the coming year. In fact, we’re already seeing the impacts of the rampant money printing on prices. For instance, import costs have doubled and in some cases tripled. Commodity and agricultural prices are up, along with the price of oil.

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Analysts have also noted that demand for physical gold tends to increase during Democratic presidential administrations.

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.Interested in learning how to buy gold and buy silver?Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

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