Latest From The US On The Gold Eagles

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Author	Replies: 5 / Views: 2,010
ClearwaterCoins Valued Member United States 177 Posts	Posted 03/11/2009 9:01 pm See below for the latest news about the production of the American Gold Eagle Coins. This was posted on the mints website. "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 . . . ." The United States Mint will resume the American Eagle Gold Proof and Uncirculated Coin Programs once sufficient inventories of gold bullion blanks can be acquired to meet market demand for all three American Eagle Gold Coin products. Additionally, as a result of the recent numismatic product portfolio analysis, fractional sizes of American Eagle Gold Uncirculated Coins will no longer be produced." CC Report this Post to the Staff

jewellge Valued Member United States 193 Posts	Posted 03/12/2009 08:08 am My order was confirmed 8 minutes after they went on sale ... and I'm still waiting. The online tracking system has been down for a month. If I had a system down for 1 day I'd be out of work. The companion book is backordered. A perfect example of a government operation, enjoy nationalized healthcare and banking. Report this Post to the Staff
nod2003 Pillar of the Community United States 3294 Posts	Posted 03/12/2009 08:46 am So let me get the government's logic here... Lots of people want these gold eagles, so they shut production down. If the private sector worked like that, everyone would have starved to death a millenia ago. Report this Post to the Staff
SPQR Valued Member United States 327 Posts	Posted 03/12/2009 09:30 am Well, the Uncirculated and Proof versions are not mentioned by the law, but the Bullion version is. In order to comply with the mandate to keep up with demand for the Bullion, they don't have enough material to make the others. This makes perfect sense to me; they have to comply with the law. This also tells me that there are a lot of people who are going to have a safety deposit box (or, in some cases, coffee cans buried in the yard) full of precious metals and not much in "investments" that don't perform. Report this Post to the Staff
MtnCoinMan Valued Member United States 462 Posts	Posted 03/12/2009 09:33 am Can you imagine the demand if the economy were good? You would think this was the "Wii" or the "Beanie Baby" or the "Tickle me Elmo" doll of the US Government. Demand out strips supply. Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 03/12/2009 10:55 am Part of the demand is because the economy is bad, gold has always been a hedge in rough economic times. Also, all this means is that the collector versions(proof and uncirculated W) are suspended so all of the available planchets can be used to produce the investment-grade bullion versions. Report this Post to the Staff
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