It was a dismal and slow year for the US Mint as sales of gold and silver 2018 American Eagles were drastically low. In fact, the US Mint has not seen sales so low since 2007. Although it appears to be a bad time in the precious metals world, collectors and investors know this is a good thing. In this article, we will explore the slow-down of the precious metals market and how 2019 is sure to see a better year for gold and silver.
2018 was indeed a slow year for gold and silver, as well as other precious metals. The US Mint went to release data stating that this was the first time in over ten years that American Eagle sales were so low. The numbers speak for themselves. There was a sale of only 245,500 ounces of gold American Eagles. This was the lowest since 2007 when 198,500 sold. As far as silver, only 15.7 million ounces sold. In 2007 the US Mint saw sales of only just 987,000 ounces.
Furthermore, December seems to have taken one of the bigger hits. The US Mint only sold 3,000 ounces of gold American Eagle coins. 490,000 ounces of silver sold. This means that sales went down in December by 85% and 70%, respectively.
WHY ARE SO FEW MINTED AND SOLD?
Numerous factors happen with precious metal demand. However, one of the most well-known is that gold and silver are often seen as a backup or safe-haven investment. This means that investors look to the precious metals market in times of uncertainty-especially financial and political uncertaintly. So, with the stable times of 2018, many investors sought to put their money into other investments. Investments including real estate, stocks, and bonds. Why? 2018 had a strong economy, a 10 year long bull-market, a strong US dollar, and rising interest rates. This resulted in the precious metals market nearing historic lows of sales. Yet, in times past, bargain precious metal deals ensured buyers coming in for “a steal.” We did not see that this time around–even bottom of the barrel prices did not entice buyers.
THE PRECIOUS METAL INVESTORS SILVER LINING
Most experts agree that 2019 will surely be a better year for precious metals. This is because as fundamentals strengthen and dismal outlook come together, new bull markets come around. This means that it most likely will be a while before we see such low American Eagle prices again. Smart investors can buy rare 2018 American Eagles at low prices, and watch their investments grow in value.
So why is this all actually a good thing? Rarity and condition often affect a coin’s value. That is, besides the American Eagles. These coins are known to sell based on scarcity alone. Since the 2018 American Eagles saw low sales and a low mint, owning a 2018 American Eagle ensures you’ll have one of the rarest in over a decade. Not only will you own a rare coin, but one known for it’s high-quality, exceptional design, and high purity. This means the 2018 American Eagles coins are most likely to trade for a much higher value over time compared with other American Eagles. So yes, there is a silver lining in these dismal precious metal days.
As of today, January 10, 2019, the gold price is at $1289, down $3.80. The silver price is at $15.69, down $0.09. Platinum and palladium are still rising, with palladium outperforming gold. This shows that now is an optimal time to be buying gold and buying silver.
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Bullion Exchanges is one of the largest and most reputable precious metals retailers in New York City’s Diamond District. We ensure a pleasant and secure retail and online shopping experience. You can buy the 2018 American Eagles, and other coins available today online at BullionExchanges.com. We offer free US shipping on all orders over $75 USD. Alternately, complete your purchase of this exquisite coin at our retail store in the heart of Manhattan, at 30 West 47th Street. We are open Monday-Friday from 9am-5pm EST.