After sales of the United States Mint’s 1 oz. Gold and Silver American Eagle bullion series doubled from 2019 to 2020, the popular series experienced surging sales in the first quarter of 2021. Experts at Asset Marketing Services point to both economic concerns and historic changes of the coins as contributing factors.
Recent volatility in the markets has motivated many to turn to gold and silver coins to hold their investments. “Bullion coins are an easy way for new investors to diversify their holdings and add small quantities of precious metals into their investment portfolio,” said Robert Wilkie, Senior Director of Product Development at Asset Marketing Services. “However, collectors are also excited about the first-ever design changes coming to the American Eagle coins later this year.”
Asset Marketing Services, founded in 1984, is one of the world’s largest marketers of collectible coins and currency via its ModernCoinMart and GovMint.com brands.
Sales of the 1 oz. American Eagle Gold coin leaped from 108,000 in 2019 to 747,500 in 2020, with more than 400,000 purchased in the first four months of 2021. 1 oz. American Eagle Silver coins saw similar success, going from just under 15 million sold in 2019 to more than 30 million sold in 2020, and over 13 million sold in the first quarter of 2021.
Wilkie also noted that some of those sales probably come from investors tracking precious metals. The price of Silver has nearly doubled since May of last year, up to around $27.80 per ounce at the time of writing, according to spot silver pricing data pulled from COMEX via CNBC.
“Over the course of the last several months, we have encountered unprecedented demand for collectible coins, including the American Gold and Silver Eagles released by the U.S. Mint.”
American Eagle coins are some of the most popular gold and silver coins among collectors worldwide. Though they have been admired for their classic design since 1986, the series is getting a refresh in 2021.
“As this is the first year in U.S. Mint history that two differing versions of Silver and Gold American Eagle coins are released, we expect to see interest in the series continue. We are very excited to offer both gold and silver eagles with the refreshed designs.” concluded, Wilkie.
GovMint.com and ModernCoinMart are now pre-selling these new American Eagle coins and will be soon offering coins paired with labels that have been hand-signed by key individuals who worked on the redesign.