High demand for gold coins reported during April

Demand for the US Mint’s latest 24 carat gold coin has been so high among collectors and investors, it almost sold out within a week of its launch.

The 2016 Mercury Dime Centennial coin sold 122,510 from the total mintage of 125,000. The clamour for the coin saw it being listed as ‘unavailable’ within an hour of going on sale. There is a '10 coins per household' limit on buying the one-tenth of a troy ounce gold coin.

The demand for the new edition reflects the currently popularity of gold coin investment as the price of the precious metal continues to perform strongly.

Figures from the US Mint also showed that sales of the 2016 one troy ounce American Buffalo Coin during April were the second highest so far this year. Collectors snapped up 19,500 of the coins last month, up on the 19,000 bought in February and 7,000 sold in March. January has so far set the 2016 monthly sales record, when 34,000 Gold Buffalos were sold.

Investors are also snapping up the ever-popular American Gold Eagle. Sales of the 2016 edition of the one troy ounce gold bullion coins reached 93,500 during April. Gold Eagles can be bought in one troy ounce, half, quarter and one-tenth of an ounce weights. The one troy ounce edition is the most popular, and so far this year, it has sold 279,000 units.

The surge in the silver price in recent weeks has been reflected in sales of silver coins too. The one troy ounce 2016 American Silver Eagle shifted 4.07 million units last month. The coin is always a best-seller for the US Mint and so far in 2016, more than 18 million have been bought by investors and collectors.

The Mint also produces a series of collectible silver coins including America the Beautiful proof quarters.