November 30, 2017 / 10:47 PM / 18 days ago

U.S. Mint American Eagle gold, silver coin sales fall sharply

NEW YORK (Reuters) - Sales of U.S. Mint American Eagle gold and silver coins fell sharply year-over-year in November, keeping their tally for the first 11 months of 2017 on track for the weakest year since 2007, the latest data showed on Thursday.

U.S. Mint data showed its sales of American Eagle gold coins totaled 12,000 ounces in November, down 92 percent from November 2016. This placed sales for 2017 so far at 259,500 ounces, on track for the lowest in 10 years.

Sales of American Eagle silver coins reached 385,000 ounces in November, down 87 percent from November 2016, and bringing year-to-date sales to 17.3 million ounces, also on track for the lowest in 10 years.

Investors have shrugged off geopolitical concerns and have been selling some silver in favor of investing in the stock market’s record rally.

Reporting by Marcy Nicholson

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