U.S. Mint sees 455% increase in gold coin sales in 2020, silver demand up 100%

(Kitco News) - Investment demand for gold and silver fired on all cylinders in 2020 as the U.S. Mint data shows that demand for bullion gold and silver coin reached its highest level in four years.

According to its latest sales numbers, the U.S. Mint sold 884,000 ounces of gold in various denominations of its American Eagle gold coins. Physical gold demand saw a more than five-fold increase, up 455% compared to 152,000 ounces sold in 2019.

Sales of gold coins reached their highest level since 2016 when the mint sold nearly 2 million ounces of gold that year.

Looking at the silver market, the U.S. Mint saw its silver sales more than double compared to last year. According to the numbers, the U.S. Mint sold 30.01 million ounces of silver, up 101% compared to 2019.