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6.02.2010

American Eagle Gold Coins Selling Like Its 1999!


 The U.S. mint sold 190,000 1-ounce American Eagle gold coins in May, the largest number since January 1999, and the most in any month so far in 2010, according to a spokesman for the U.S. agency.

In January 1999, the U.S. mint sold 208,500 gold 1-ounce coins, with only five other months exceeding May's gold coin sales since the program was launched in 1986.

While in 2010 the U.S. Mint has sold only 1-ounce gold coins, in past years it has sold other coin sizes as well.

Comparing only American Eagle gold 1-ounce coins, the biggest monthly sale occurred in October 1986 with 609,500 coins sold, the Mint said.

Many investors, both retail and institutional, have sought gold as a safe-haven asset in times of economic uncertainty. Sales of the American Eagle coins increased by 214 percent in the month over April during a time when concerns about sovereign debt in the euro zone raised fears of a larger macro-economic effect.

The price of gold bullion reached a record high last month at $1,248.95 per ounce.