U.S. Mint American Eagle gold coin sales set to rise sharply in Sept

Wed Sep 24, 2014 3:01pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

NEW YORK (Reuters) - The U.S. Mint has sold nearly 50,000 ounces of American Eagle gold coins so far in September, almost double its total in August, as a sharp pullback in gold prices and geopolitical tensions boosted interest for physical products from retail investors.

With only six business days left until the end of September, sales of American Eagle bullion gold coins made for investors were 46,000 ounces, up 84 percent from August sales of 25,000 ounces, the latest U.S. Mint data showed on Monday.

Record highs in U.S. equities also prompted some retail investors to buy precious metal products to diversify their portfolios, said David Beahm, vice president at New Orleans coin dealer Blanchard & Co.

U.S. gold coin sales tend to be highly seasonal, with the summer months of July and August being the slowest period.

(Reporting by Frank Tang; Editing by Meredith Mazzilli)

The obverse of the American Eagle gold buillion coin is shown in this undated handout photo. REUTERS/U.S. Mint/Handout