GOLD 00.00 1.20 0.00%
SILVER 00.00 1.20 0.00%

Metal Market Report January 2022 - Week 1 Edition

January 2022 - Week 1 Edition

U.S. Mint Gold Bullion Sales Rose 45% to 48% in 2021

The U.S. Mint sold 48.3% more ounces of Gold American Eagles in 2021 than they sold in 2020, and they sold 44.6% more Gold American Buffalo Coins in 2021 than in 2020.  Two-year sales figures over 2019 were far higher, at +724% and +469%, respectively. American Eagle sales were helped by the first design change in the series since 1986. Silver Eagle sales slipped a little but were up 90% over 2019.

Silver sales would have probably been higher if the U.S. Mint had not faced production challenges due to COVID-19 in 2021.

We know that a good percentage of new bullion customers become rare coin investors and collectors over the next two years. This, in turn, drives up the demand and prices of rare coins in the rare coin market.

2021 Was Rich with Opportunity for Gold to Go Up

2021 seemed to be an ideal year for gold to gain ground, with persistent financial issues like:

  • the highest inflation rate in 40 years, partly due to the Fed printing $120 billion per month in fiat money, but also exacerbated by
  • global supply disruptions
  • worker shortages
  • big spending bills by President Joe Biden and a Democratic Congress reaching $2.7 trillion in new deficit spending
  • a growing crisis on our southern border
  • an ignominious exit from Afghanistan
  • deep political divisions at home, leading into a key mid-term election year.

But… gold failed to gain ground for most of the year but did finish 2021 stronger.

However, gold gained ground in terms of the euro and many other currencies, since the U.S. Dollar index gained nearly 7% in 2021, while the euro declined the same amount.  Since gold went down about 3% in U.S. dollar terms in 2021, and the euro fell 7%, that means gold went up almost 4% in euro terms.

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