The economy as a whole may be rollercoastering, but that seems to be good news for the United States Mint, which reported a huge uptick in demand for gold and silver bullion in 2013.
Demand spiked in 2013, as politicians and stock brokers alike quibbled over the state and future of the American economy, and the U.S. Mint saw record demand — an increase in volume by 45,862,000 ounces in silver and gold. Net income more than doubled to $59.3 million as revenue grew 31.8 percent.
Those are huge gains. It could even be called a silver (and gold) lining of all the economic trouble the country has suffered through, including the 16-day government shutdown in October (after the close of the 2013 fiscal year).
Last years’ growth is particularly significant because bullion sales declined in the two years prior. The American Gold Eagle saw a 51.9 percent growth and the American Gold Buffalo sold 66.7 percent more, partially due to the big hit prices took on April 15, when gold posted its largest drop in 30 years. In the next three days following, U.S. Mint authorized purchasers picked up more than 100,000 ounces of gold.
But it wasn’t just gold that did so well: silver made an excellent showing as well. The American Silver Eagle sold 29.2 percent more than the year prior, and 5 ounce America the Beautiful bullion coins sold a whopping 143.8 percent better. Sales were so hot, the Mint resorted to rationing the supply to authorized dealers.
As politicos continue to dither about what (and how) to cut from the federal budget, it’s clear that the U.S. Mint is a moneymaker (in more than one way), with an 108.8 percent increase in revenue.
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