2008 US Mint Gold, Silver & Platinum Bullion Coin Sales

With the dust somewhat settled for the prior year, we now have some complete US Mint sales data on sales of gold, silver, and platinum bullion coins. As expected, the numbers show some large percentage increases from prior year sales. In particular silver bullion sales reached an all time record high with sales of nearly 20 million ounces.

While the bullion coin sales figures go a long way to highlighting the immense demand for physical precious metals experienced in 2008, it's only part of the picture. These strong numbers were achieved amidst periodic suspensions and rationing programs which impacted all bullion coin programs at one point or another during the year.

Sales of silver bullion coins were suspended on February 4, 2008 and again on March 19. Sales were resumed more than one month later on April 21, but on a rationed basis. Similarly, gold bullion coin sales were suspended and then resumed on a rationed basis. And finally, sales of some platinum and gold coins were ended prematurely, prior to the end of the year.

2008 US Mint Gold Bullion Coin Sales

	Coins	Ounces
1 oz Gold Eagle	794,000	794,000
1/2 oz Gold Eagle	50,000	25,000
1/4 oz Gold Eagle	58,000	14,500
1/10 oz Gold Eagle	270,000	27,000
1 oz Gold Buffalo	171,500	171,500
Total	1,343,500	1,032,000

The US Mint sells a 22 karat gold coin known as the American Gold Eagle. This coin is sold as a one ounce coin as well as in 1/4 ounce, 1/2 ounce and 1/10 ounce fractional denominations. The US Mint also sells a 24 karat one ounce gold coin known as the American Gold Buffalo. Gold Eagles have been sold since 1986 and Gold Buffaloes have been sold since 2006.

Across all options, the US Mint sold 1,032,000 ounces of gold through its bullion coin programs in 2008. This represented a jump of more than 78% from last year's combined total of 577,000 ounces of gold. Notably, the total for 2008 is still far from the all time high of 2,055,500 ounces reached in 1999.

2008 US Mint Silver Bullion Coin Sales

	Coins	Ounces
1 oz. Silver Eagle	19,583,500	19,583,500

The US Mint sells a one ounce silver bullion coin known as the American Silver Eagle. These bullion coins have been sold since 1986.

For 2008, the US Mint reached an all time record for ounces of silver sold through their bullion program at 19,583,500 ounces. This represents a 98% increase from last year's sales of 9,887,000 ounces of silver. The previous record for ounces of silver sold through the US Mint's bullion coin program was set in 2002 with 10,475,500.

2008 US Mint Platinum Bullion Coin Sales

	Coins	Ounces
1 oz. Platinum Eagle	20,800	20,800
1/2 oz. Platinum Eagle	12,800	6,400
1/4 oz. Platinum Eagle	20,800	5,200
1/10 oz. Platinum Eagle	13,000	1,300
Total	67,400	33,700

The US Mint sells 99.95% platinum bullion coins known as the American Platinum Eagle. These coins are available in one ounce as well as 1/2 ounce, 1/4 ounce, and 1/10 ounce fractional sizes. The platinum bullion coins have been offered since 1997.

During 2008, the US Mint sold 33,700 ounces of platinum through their bullion program. This was up 272% from last year's platinum bullion coin sales of 9,050 ounces. The all time record for platinum bullion sales by the US Mint was 175,650. This record was set in 1998 when platinum was significantly cheaper.