January 10, 2014 - The U.S. Mint overproduced its 2013 American Eagle gold bullion coins and will deal with the abundant supply of 2013-dated pieces by shipping them at a 1:1 ratio with their 2014 counterpart, according to the U.S. Mint’s web site. After selling 856,500 ounces of gold Eagle bullion coins in 2013 the Mint has some left over, thanks in part to a 63% increase in gold coin demand in 2013 as well as a 14% increase from 2012 to 2013 in sales of gold Eagle coins.
“It’s very difficult to predict how many coins need to be minted, especially at the end of the year when demand can fall far below the yearly average,” said Mike Chow, analyst for Gold-Bullion.org. “Gold was more volatile than expected in 2013 and this played a part in the excess coinage, too.”
The U.S. Mint says it will honor requests for 2014 coins from its authorized distributors through January 20, at which point it will start shipping 2013 and 2014-dated coins in equal amounts. Chow believes that the supply of 2013 gold bullion coins could sell out before the beginning of February as most dealers will probably offer extra discounts to individuals who are willing to take delivery of last year’s coins.
“Collectors might be picky about the date because they want first strikes and other high-premium rarities, but gold bullion investing is about getting the most bang for your buck and right now the biggest deal in the gold bullion market is the 2013 American Eagle gold bullion coin.”
Daily Updates Archive
Jonathan Monroe
Senior Staff Writer - Gold-Bullion.org
