Sales of gold, silver coins on track to hit record monthly highs in January

Since the start of 2013, sales of gold and silver coins have surged in the United States because investors are seeking to protect their wealth and investments from a possible economic collapse, runaway inflation and potential default on the nation’s $16.4 trillion debt. Bullion retailers are warning of a post-January dip in the market akin to last year’s development, though.

Data from the U.S. Mint showed that as of Jan. 15, silver Eagle coins has already surpassed five million ounces for the month. If the trend persists, coin sales may exceed the monthly high of 6.1 million ounces established the same month a year ago.

Meanwhile, gold coin sales were approximately 110,500 ounces, compared to 127,000 ounces for the entire month of January in 2012. This could mean that gold sales may have the highest monthly sales since 1999.

The U.S. Mint isn’t the only entity posting positive numbers for goldbugs in the first month of 2013. According to a report from Reuters, demand for gold and silver Maple Leaf coins in Canada has been quite strong

However, there has been a decline in acquisitions of physical bullion because of cheaper products, including exchange-traded funds (ETFs). Furthermore, gold coin sales usually start to dip throughout the summer months, while gaining steam again in September when the Indian wedding season begins and then a few months later the Chinese New Year.

During the morning trading session on Thursday, gold is down $11.80 at $1,671.50. Silver, which has made significant gains this month, is also down by $0.37 at $31.17 (at the time of this writing).

This news comes as gold made headlines across the globe this week when the Bundesbank, the central bank in Germany, decided to repatriate its gold that is held at the New York Federal Reserve, the Banque de France and the Bank of England. It was also reported in late October that Ecuador has demanded one-third of its 26.3 tons of gold reserves back in order “to support national growth.”

It was predicted this week that other nations will soon follow Germany’s suit. This could lead to the U.S., England and France to be viewed as derelicts in relation to gold custodians.