Gold prices have been taking a beating lately, but the U.S. Mint reported in July that bullion sales are up from last year – by a LOT!
In July 2014, the U.S. Mint reports that it sold 35,500 ozt. of gold in various denominations (American Eagles, Buffalo coins, etc.). This year, the mint sold 202,000 ozt. of gold – that’s a 469% increase!
What’s more, July wasn’t just a lucky month for the mint – the rest of their sales data shows a clear year-over-year increase. In the first seven months of 2015, the mint sold 571,500 ozt., which is a 38% increase compared to the same time period last year.
The numbers for silver bullion show a similar trend for the same time frames. For the first seven months of the year, silver coin sales increased 4.6% and 180% for the month of July. The numbers might have been higher, but the mint reportedly sold out of American Silver Eagles halfway through July before restocking them during the final week of the month.
Don’t forget, you don’t need to go to the U.S. Mint for gold bullion. At MGS, we sell 999.9 fine bars that are sealed, certified, and labeled with a serial number and QR code for authentication purposes.