The United States Mint has updated its daily American Buffalo Gold Bullion Sales Report through to today, February 1, 2021. The report shows that, much like other bullion products, the American Buffalo has had an exceptional strong start to sales in 2021.
Up to February 1, 2021, the United States Mint has sold 61,500 of the one-ounce gold bullion coins. This sales total is a dramatic increase over the January 2020 sales total of 21,000 coins, representing a stunning 192.86% increase year-over-year. The sales figures in the February 1st report indicate all sales through the month of January 2021.
The sales figure for the American Buffalo are not surprising in light of the continued strong sales of bullion products from the United States Mint in general. Investors and collectors have both been adding a significant amount of bullion to their portfolios through much of 2020 and that trend, at least for now, has continued into 2021. The rush to bullion has been driving largely by concerns of economic instability as a result of the ongoing COVID-19 pandemic. The ongoing question for many in 2021 will be if the Mint can keep up with demand, something that it struggled to do in 2020 due to production shutdowns due to the pandemic.
As a reminder to collectors new and old, United States Mint bullion coins, including the American Buffalo, are sold to Authorized Purchasers and cannot be directly purchased from the Mint itself. The United States Mint updates is bullion sales report each day at 5:00 PM Eastern. USCoinNews.com publishes a weekly summary of the previous week each Monday. You can find the report on the Mint’s site here as it is available to the public.
If you are not familiar with the American Buffalo gold bullion coin, you can read this Coin History article on it for background.