Official statement from Mint on shortages
HonoluluDude
Posts: 2,167 ✭
STATEMENT BY U.S. MINT
August 21, 2008
FACT SHEET ON ONE-OUNCE GOLD BULLION COIN DEMAND
MENTIONED IN THE WALL STREET JOURNAL TODAY
The United States Mint does not sell bullion coin products directly to the public but
to "authorized purchasers" who then sell these products to the public and price the
bullion based on market factors. Authorized purchasers are required to meet high
standards and must guarantee to maintain a two-way market for their customers
to ensure the liquidity of these investment-grade coins.
By law, the United States Mint must mint and issue gold bullion coins in quantities
sufficient to meet public demand. Therefore, the sale of bullion products takes
precedence over other "numismatic" products made by the United States Mint.
Accordingly, obtaining bullion blanks from our vendors and producing bullion
products to meet demand takes priority over other uses and product lines that
may use the same metals.
Because our vendors are not able to supply enough one-ounce gold bullion blanks to
meet the unprecedented demand we are experiencing, the United States Mint notified
our authorized purchasers on August 14, 2008, that we must temporarily suspend
sales of the 2008 American Eagle One-Ounce Coin.
However, one-half ounce, one-quarter ounce, and one-tenth ounce 22-Karat American
Eagle Gold Bullion coins are still available to authorized purchasers and are in stock at
the United States Mint. In addition, one-ounce American Buffalo 24-karat gold bullion
coins are still available to authorized purchasers and are in stock at the United States Mint.
The United States Mint is currently working diligently to build up our inventory
and hope to resume sales of American Eagle Gold Bullion coins shortly.
If you need any additional information, please call us and the United States Mint will
be happy to help you.
August 21, 2008
FACT SHEET ON ONE-OUNCE GOLD BULLION COIN DEMAND
MENTIONED IN THE WALL STREET JOURNAL TODAY
The United States Mint does not sell bullion coin products directly to the public but
to "authorized purchasers" who then sell these products to the public and price the
bullion based on market factors. Authorized purchasers are required to meet high
standards and must guarantee to maintain a two-way market for their customers
to ensure the liquidity of these investment-grade coins.
By law, the United States Mint must mint and issue gold bullion coins in quantities
sufficient to meet public demand. Therefore, the sale of bullion products takes
precedence over other "numismatic" products made by the United States Mint.
Accordingly, obtaining bullion blanks from our vendors and producing bullion
products to meet demand takes priority over other uses and product lines that
may use the same metals.
Because our vendors are not able to supply enough one-ounce gold bullion blanks to
meet the unprecedented demand we are experiencing, the United States Mint notified
our authorized purchasers on August 14, 2008, that we must temporarily suspend
sales of the 2008 American Eagle One-Ounce Coin.
However, one-half ounce, one-quarter ounce, and one-tenth ounce 22-Karat American
Eagle Gold Bullion coins are still available to authorized purchasers and are in stock at
the United States Mint. In addition, one-ounce American Buffalo 24-karat gold bullion
coins are still available to authorized purchasers and are in stock at the United States Mint.
The United States Mint is currently working diligently to build up our inventory
and hope to resume sales of American Eagle Gold Bullion coins shortly.
If you need any additional information, please call us and the United States Mint will
be happy to help you.
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