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US Mint suspends gold sales (again)

ProofCollectionProofCollection Posts: 5,408 ✭✭✭✭✭
in Precious Metals
US Mint suspends gold bullion coins sale



<< <i>The US Mint’s website said: “Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins. Currently, all available 22-karat gold blanks are being allocated to the American Eagle Gold Bullion Coin Program, as the United States Mint is required by Public Law 99-185 to produce these coins in quantities sufficient to meet public demand. >>

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    secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    I'm surprised the Ultra High Reliefs haven't been affected.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
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    ProofCollectionProofCollection Posts: 5,408 ✭✭✭✭✭


    << <i>I'm surprised the Ultra High Reliefs haven't been affected. >>



    I wonder if it's because they are 24kt and not 22kt.
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    PerryHallPerryHall Posts: 45,447 ✭✭✭✭✭


    << <i>

    << <i>I'm surprised the Ultra High Reliefs haven't been affected. >>



    I wonder if it's because they are 24kt and not 22kt. >>



    Yup. Two different sources. The 24K UHR planchets are from the Pert Mint, Australia.

    Worry is the interest you pay on a debt you may not owe.

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    secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    There are definitely delays on the UHRs, but they must not be as significant as on the 22k pieces. I bought an UHR on the first day it went on sale and am still waiting to receive it.

    Edited on 3/18: just received word that my UHR is being shipped.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
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    ProofCollectionProofCollection Posts: 5,408 ✭✭✭✭✭


    << <i>There are definitely delays on the UHRs, but they must not be as significant as on the 22k pieces. I bought an UHR on the first day it went on sale and am still waiting to receive it. >>



    That's funny. I bought mine on the 3rd or 4th day they were offered and I got mine last week.
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    secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    It's good to hear some people are getting theirs.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
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    jmski52jmski52 Posts: 22,382 ✭✭✭✭✭
    Why are we hearing about this from a press release in Mumbai? Sheesh. Does any of this make sense to anyone?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    jmski52jmski52 Posts: 22,382 ✭✭✭✭✭
    If the problem is with the 22 karat blanks, why are they suspending all platinum and all gold buffalo production as well?

    Something's afoot, I think.

    The people writing their press releases don't even know their own product line well enough to explain this outage.

    Unbelievable. In fact, I really don't believe them.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    ProofCollectionProofCollection Posts: 5,408 ✭✭✭✭✭
    Here'a another (local) source:

    2009 AGE Coins Suspended
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    Norseman88Norseman88 Posts: 962


    << <i>There are definitely delays on the UHRs, but they must not be as significant as on the 22k pieces. I bought an UHR on the first day it went on sale and am still waiting to receive it. >>



    I bought mine on the second day and it was shipped 2 days ago but has not arrived yet.
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    NitroCruiserNitroCruiser Posts: 654


    << <i>If the problem is with the 22 karat blanks, why are they suspending all platinum and all gold buffalo production as well?

    Something's afoot, I think.

    The people writing their press releases don't even know their own product line well enough to explain this outage.

    Unbelievable. In fact, I really don't believe them. >>



    It's an excellent marketing strategy. The mint is churning out loads of bullion right now. Collectors will be anticipating low mintages of the mints 2009 UNC and proofs and make a killing.
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    KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>If the problem is with the 22 karat blanks, why are they suspending all platinum and all gold buffalo production as well?

    Something's afoot, I think.

    The people writing their press releases don't even know their own product line well enough to explain this outage.

    Unbelievable. In fact, I really don't believe them. >>



    not believe your US mint! image
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
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    MakaroviiMakarovii Posts: 336
    "Additionally, as a result of the recent numismatic product portfolio analysis, fractional sizes of American Eagle Gold Uncirculated Coins will no longer be produced."

    image
    Potestas Democraticorum delenda est!
    Joel 3:10

    “The American people will never knowingly adopt Socialism. But under the name of ‘liberalism’ they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened.” -Socialist Party presidential candidate Norman Thomas

    “We Are All Socialists Now" - Feb 16, 2009 cover of Newsweek Magazine
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    MoneyLAMoneyLA Posts: 1,825 ✭
    has there been any impact on the premium of the gold coins yet? or no impact at all? thanks
    Cheers, Alan Mendelson
    www.AlanBestBuys.com
    www.VegasBestBuys.com
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    jmski52jmski52 Posts: 22,382 ✭✭✭✭✭
    <<The people writing their press releases don't even know their own product line well enough to explain this outage.

    Unbelievable. In fact, I really don't believe them.>>

    not believe your US mint!image

    To be sure, I hardly ever believe the US Mint. Only this time, I REALLY don't believe them!image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    ProofCollectionProofCollection Posts: 5,408 ✭✭✭✭✭


    << <i>has there been any impact on the premium of the gold coins yet? or no impact at all? thanks >>



    Premiums in the aftermarket continue to increase. I am unaware of premiums from the mint (to their distributors) increasing.
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    streeterstreeter Posts: 4,312 ✭✭✭✭✭
    This whole MINT thing about suspending gold sales and driving up prices thereby creating a false sense of scarcity is going to cause lots of problems at some point. Overall, the profits generated do not compensate for the harm that is done by the manipulation.
    Have a nice day
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    carew4mecarew4me Posts: 3,464 ✭✭✭✭
    there's that word again: m a n i p u l a t i o n

    Loves me some shiny!
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