A quick look at sales of the gold and silver American Eagle coins, as well as minted gold and silver at the Perth Mint, has uncovered no signs that the woes of silver will be abating any time soon. Both mints have seen a continued collapse in sales, with only an unexpected bump in the popularity of gold as a bright spot.
What’s going on? We look at things from the collectors point of view first of all, and to be honest, there’s never been a better time for people that like bullion coins in that regard. A greatly increased range of ever improving silver and gold bullion designs has made this a kind of golden age, so there’s clearly demand when mintages are low. For example, the Perth Mint has reported sell outs of the Emu, Bird of Paradise, Swan, and Wedge-tailed Eagle silver bullion coins, with the lunar dog approaching sell out (even the 10kg has sold out now), as well as the Dragon & Phoenix gold coin.
As for the big guns, the reduction in big volume buyers has been very telling. We’ve long ago given up on trying to guess which way the market will move as for the last few years there seems to be a huge disconnect between the spot price for precious metals and the wider financial situation worldwide. No doubt manipulation is a large part of that, but it hasn’t stopped the low-mintage market bouncing along fine and that’s enough for us at least.
Don’t forget to check out our graphs of all these numbers on the blue button link below.