February 27, 2015 / 9:30 PM / 3 years ago

RPT-UPDATE 1-U.S. Mint American Eagle gold coin sales tumble in February

(Repeats without change to headline or text to fix tabulation)
    NEW YORK, Feb 27 (Reuters) - U.S. Mint American Eagle gold
coin sales in February were the weakest for the second month of
the year since 2007, and down 77 percent from January, according
to data on Friday, as investors eyed the soaring stock markets.
    The U.S. Mint sold 18,500 ounces of gold bullion coins this
month, down from 31,000 ounces in February 2014 and the lowest
for the second month of the year since 2007 when just 4,000
ounces were sold.
    Just 81,000 ounces of gold coins were sold in January, the
smallest amount for the first month of the year since 2008.
    This follows weak full-year sales in 2014, which were the
lowest since 2007.
    "Gold's just not in vogue right now and the average investor
is trying to chase the stock market," said David Beahm,
executive vice president for Blanchard & Co, a large precious
metals retailer in New Orleans.
    "The stock market is hitting all-time highs so nobody wants
to put money into anything else except for that."
    Meanwhile, the spot gold market has been rangebound
between $1,130-$1,392 per ounce for the past year. It fell
around 5.5 percent in February, its weakest monthly performance
since September 2014.
    U.S. Mint American Eagle silver coin sales reached 3.02
million ounces, down 45 percent from January and the sales for
the month of February since 2012.
    The Mint did not sell any platinum coins for the fourth
straight month.
    Below are year-to-date coin sales (all figures in ounces):
   
                      Gold                   Silver
                2015       2014        2015       2014
 January      81,000     91,500   5,530,000  4,775,000
 February     18,500     31,000   3,022,000  3,750,000
 March                   21,000              5,354,000
 April                   38,500              3,569,000
 May                     35,500              3,988,500
 June                    48,500              2,692,000
 July                    30,000              1,975,000
 August                  25,000              2,087,500
 September               58,000              4,140,000
 October                 67,500              5,790,000
 November                60,000              3,426,000
 December                18,000              2,459,000
 
 (Reporting by Marcy Nicholson; Editing by James Dalgleish)
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