January 2022 - Week 1 Edition
U.S. Mint Gold Bullion Sales Rose 45% to 48% in 2021
The U.S. Mint sold 48.3% more ounces of Gold American Eagles in 2021 than they sold in 2020, and they sold 44.6% more Gold American Buffalo Coins in 2021 than in 2020. Two-year sales figures over 2019 were far higher, at +724% and +469%, respectively. American Eagle sales were helped by the first design change in the series since 1986. Silver Eagle sales slipped a little but were up 90% over 2019.
Silver sales would have probably been higher if the U.S. Mint had not faced production challenges due to COVID-19 in 2021.
We know that a good percentage of new bullion customers become rare coin investors and collectors over the next two years. This, in turn, drives up the demand and prices of rare coins in the rare coin market.
2021 Was Rich with Opportunity for Gold to Go Up
2021 seemed to be an ideal year for gold to gain ground, with persistent financial issues like:
But… gold failed to gain ground for most of the year but did finish 2021 stronger.
However, gold gained ground in terms of the euro and many other currencies, since the U.S. Dollar index gained nearly 7% in 2021, while the euro declined the same amount. Since gold went down about 3% in U.S. dollar terms in 2021, and the euro fell 7%, that means gold went up almost 4% in euro terms.
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