Gold Eagle Coin Sales at Record Low, Investors Sleeping

Technical Analysis Expert & Editor @
January 12, 2020

gold eagle coins

Gold confirmed a new bull market in 2019, but most investors remain in a deep slumber. Record low gold eagle coins sales support a turning point in 2020.

I've made a living as contrarian investor. My underlying principle is rather straightforward: Figure out what the public is doing/not doing and do the opposite. Why? Because the average investor is almost always wrong.

Let me give you an example. In my September 26th report to investors, I noted the most popular stock on Robinhood's top 100, was Aurora cannabis ticker symbol ACB.

I said, "After peaking at $10.32 earlier this year prices are down to support near $4.50. I see the potential for a large head and shoulder top. A breakdown below $4.50 in the coming weeks/months would imply a test of $1.50 – $2.50."

That was then...let's see where prices are today. 

Prices reached a low of $1.66.

Surprisingly, ACB has grown in popularity as prices declined, and for that reason, I don't believe this stock has bottomed. 

That was an example of what's currently popular with average investors. Now, let's look at what's unpopular. 

Despite the bullish breakout in 2019 and a new bull market in gold, the U.S. mint produced the least amount of gold eagle coins ever in its 33-year history - just 152,500 ounces. Down sharply from the 985,000 ounces struck in 2016 and a fraction of the 2,055,500 ounces produced in 1999 (Y2K scare). 

So, what does record low gold eagle coins sales suggest? To me, it's a clear indicator of what the public is NOT doing; they are not buying precious metals. Moreover, there's not one gold-related stock on Robinhood's top 100, and that gets me very excited. It says the bull market in gold is just getting started.

I encourage you to be smarter than the average investor - do what's unpopular.

buy guld and silver




AG Thorson is a registered CMT through the MTA and an recognized expert in technical analysis of the precious metals markets. He is also the Editor of where members receive daily updates and regularly scheduled reports 3-days a week. He prides himself on making his analysis easy to understand through the use of adaptive and creative charting methods. You can reach AG at [email protected].

The purity of gold is measured in carat weight.
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