After seeing gold and silver prices fall throughout 2016, you might think “gold bugs” would have grown tired of losses and moved elsewhere. Instead, investors doubled down on their bets and pushed gold and silver to record sales. This can only mean one thing, wise investors have no confidence in the smoke and mirrors schemes of global stock markets.
The mint announced in November that it sold out of 2015 dated American Eagle 1 oz. gold bullion coins and were not going to produce more this year. Additionally, the mint ran out of the one tenth and one fourth ounce sized coins. The mint is currently offering its one half ounce American Eagle coins and the one ounce buffalo coins while supplies last.
With gold futures down 10% this year, the mint reports 801, 500 Gold American Eagle coins sold through the last quarter, up around 53% from 2014 sales.
Silver is still king as American Silver Eagle sales hit another record high of 47,000,000 by late December.