News is currently circulating that the US Mint has suspended sales of American Gold Eagle and American Silver Eagle bullion coins. The suspension comes amidst an extraordinary rise in the price of gold, which has posted gains for seventeen out of the last eighteen trading days.
The suspension of American Eagle coins was caused by strong demand which depleted the Mint's inventory. The US Mint reportedly continues to strike the coins and expects to resume sales in early December. Fractional American Gold Eagle bullion coins are also expected to be available for sale starting on December 3. These 1/2 oz, 1/4 oz, and 1/10 oz gold coins have not been offered so far during 2009.
The Mint previously suspended sales of Gold and Silver Eagles during 2008, only to resume sales under a rationing program, which remained in place until June 2009.
In the month of November, the US Mint has sold 124,000 one ounce Gold Eagle bullion coins. This compares to 115,500 coins sold in the prior month. Earlier in the year the US Mint had sold as many as 147,500 coins in a single month.
The number of one ounce Silver Eagle bullion coins sold so far during November is 2,586,500. This compares to 2,939,000 coins sold in the prior month. The highest monthly sales for the year were achieved in March when 3,132,000 coins were sold.
Total sales to date for US Mint gold and silver bullion coins are shown below. Sales of the Silver Eagle are already at an all time annual high. Gold Eagle and Gold Buffalo coins have recorded higher annual totals in past years.
US Mint Bullion Coin Sales Year to Date
2009 Silver Eagle 25,993,000
2009 Gold Eagle (1 oz) 1,193,500
2009 Gold Buffalo 171,500
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Posted 11/25/2009 8:05 pm
