US Mint suspends Gold Coin production

gscraig · 10-12-2009, 05:18 PM

This came from an Investor Newsletter I received that I pay little attention to, but found this a bit interesting.
It points out the likely reason the US Mint is doing this, but due to our debt, China seeking re-payments and recovering missing gold (and other reasons). There may be more to this than what is speculated in the newsletter.

Those of you who are Economy Savy please feel free to chime in...

Being a short newsletter write up, I will simply post the article;

The Daily Profit 10/12/09

In an official--but quiet--release the United States Mint suspended production of the ever popular gold eagle coins until further notice.
When companies see increased demand for their products they ramp up production. But not the U.S. Mint.
Why? It's simple, it's the government version of contango, where a commodities holder (in this case the U.S. Mint with gold) has determined that the far future price of that commodity will be greater than the near future or spot price and therefore refuses to sell.
The U.S. Mint has determined that by hoarding the gold they already own and purchased at lower than current spot prices they can increase their profit margins later by suspending production and sales until gold reaches the $1,200 - $1,400 range most analysts believe is coming.
So if the U.S. Mint is willing to defer profits today for greater profits tomorrow, then you know gold's going up.

Anchor · 10-12-2009, 09:21 PM

Perhaps they ran out of physical Gold ? Orders unfulfilled...

Steve_A · 10-12-2009, 10:01 PM

Hi Anchor,

The following text has been copied from the US Mint homepage:

"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.

Update: Due to the continued, sustained demand for American Eagle Gold Bullion Coins, 2009-dated American Eagle Gold Uncirculated Coins will not be produced."

http://catalog.usmint.gov/webapp/wcs...dentifier=1150

Another possible reason could be to prop up the DOW. How? It's simple. If you take away one possible investment avenue, automatically you force the smaller investors into the other avenues.

Basically there are four avenues for a smaller investor to choose from, commodities, precious metals, stock markets and currency exchange.

If you were an investor with your US dollars, where would you go now? The safe haven of gold has been almost shut out, commodities are higher in price, foreign currencies are becoming expensive against the dollar, so that means there is basically one place to go, the stock market.

I have been asking myself why the DOW has been rising so much lately considering the amount of terrible economic news that has been flying around.

I think the small investor must come to a decision quickly, sell up and move out or probably lose a lot of financial power in the future.

Best regards,

Steve

Quote:

Originally Posted by Anchor

Perhaps they ran out of physical Gold ? Orders unfulfilled...

peaceandlove · 11-30-2009, 01:01 AM

UPDATE 1-US Mint to suspend American Eagle gold 1-oz coins

Wed Nov 25, 2009
(Updates with details, background)

NEW YORK, Nov 25 (Reuters) - The U.S. Mint said on
Wednesday it will suspend sales of the popular American Eagle
1-ounce bullion coins as rising demand depleted its inventory.

"The United States Mint has depleted its current inventory
of 2009 American Eagle 1-ounce gold bullion coins due to the
continued strong demand for this product," the Mint told its
authorized dealers in a memorandum on Wednesday.

November sales to date were at 124,000 ounces, higher than
the 115,500 ounces sold in each month of September and October,
the Mint said.

The Mint said it expects to resume sales in early
December.

CONTINUES: http://www.reuters.com/article/funds...36556520091125

peaceandlove · 12-07-2009, 08:30 PM

INVENTORY DEPLETION
U.S. Mint now suspends all one ounce gold coin sales due to shortage of physical gold!

Once again the U.S. mint has had to suspend sales of all its one-ounce gold coins, and some fractional ones too, as its supplies of physical gold cannot meet the demand.

Author: Lawrence Williams
Posted: Monday , 07 Dec 2009
LONDON -

"The United States Mint has depleted its inventory of 2009 American Buffalo One Ounce Gold Bullion Coins. ... No additional inventory will be made available. As additional information becomes available regarding 2010-dated American Buffalo One Once Gold Bullion Coins, you will be notified." So said a memorandum issued Friday to authorized purchasers of U.S. Mint gold coins and reported by Jim Sinclair..

Mineweb reported only two weeks ago, on November 25th, the suspension of sales of American Gold Eagle coins (See Above Post) by the Mint - U.S. Mint suspends American Eagle 1-ounce gold coin sales - again, which, at the time, reckoned such sales would be resumed early this month - but in the event, not only is the suspension of the Gold Eagle coin sales continuing, but also now the American Buffalo one ounce gold coin sales have also been suspended, with no new sales now planned until some time in 2010 - although the current sharp fall in the gold price may provide the Mint with a bit of respite from its supply/demand woes.

Continues: http://mineweb.co.za/mineweb/view/mi...4091&sn=Detail

peaceandlove · 12-13-2009, 10:40 PM

Mint to resume sale of gold bullion coins

The Denver Post
POSTED: 12/12/2009

The U.S. Mint plans to resume the sale of several gold bullion coins next week, the Mint said in a memorandum to authorized purchasers Friday.

Sales of some coins had been suspended because of a shortage of blanks.

A limited quantity of 2009 American Eagle Gold half-, quarter- and tenth-ounce bullion coins will be offered starting Monday, the Mint said.

"Once this inventory is depleted, no additional inventory will be produced," the Mint said.

The Mint will resume the sale of 2009 American Eagle gold 1-ounce bullion coins Tuesday. An allocation will be made on a weekly basis until the end of the year, the Mint said.

The general public buys the bullion coins from authorized intermediaries, not directly from the Mint. Dow Jones Newswires

SOURCE: http://www.denverpost.com/business/c...#ixzz0ZbxJTB3z

10-12-2009, 05:18 PM	#1
gscraig Avalon Senior Member Join Date: Mar 2009 Posts: 335	US Mint suspends Gold Coin production This came from an Investor Newsletter I received that I pay little attention to, but found this a bit interesting. It points out the likely reason the US Mint is doing this, but due to our debt, China seeking re-payments and recovering missing gold (and other reasons). There may be more to this than what is speculated in the newsletter. Those of you who are Economy Savy please feel free to chime in... Being a short newsletter write up, I will simply post the article; The Daily Profit 10/12/09 In an official--but quiet--release the United States Mint suspended production of the ever popular gold eagle coins until further notice. When companies see increased demand for their products they ramp up production. But not the U.S. Mint. Why? It's simple, it's the government version of contango, where a commodities holder (in this case the U.S. Mint with gold) has determined that the far future price of that commodity will be greater than the near future or spot price and therefore refuses to sell. The U.S. Mint has determined that by hoarding the gold they already own and purchased at lower than current spot prices they can increase their profit margins later by suspending production and sales until gold reaches the $1,200 - $1,400 range most analysts believe is coming. So if the U.S. Mint is willing to defer profits today for greater profits tomorrow, then you know gold's going up.

10-12-2009, 09:21 PM	#2
Anchor Avalon Senior Member Join Date: Sep 2008 Location: Sydney, NSW, Australia Posts: 2,280	Re: US Mint suspends Gold Coin production Perhaps they ran out of physical Gold ? Orders unfulfilled...

11-30-2009, 01:01 AM	#4
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: US Mint suspends Gold Coin production UPDATE 1-US Mint to suspend American Eagle gold 1-oz coins Wed Nov 25, 2009 (Updates with details, background) NEW YORK, Nov 25 (Reuters) - The U.S. Mint said on Wednesday it will suspend sales of the popular American Eagle 1-ounce bullion coins as rising demand depleted its inventory. "The United States Mint has depleted its current inventory of 2009 American Eagle 1-ounce gold bullion coins due to the continued strong demand for this product," the Mint told its authorized dealers in a memorandum on Wednesday. November sales to date were at 124,000 ounces, higher than the 115,500 ounces sold in each month of September and October, the Mint said. The Mint said it expects to resume sales in early December. CONTINUES: http://www.reuters.com/article/funds...36556520091125

12-07-2009, 08:30 PM	#5
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: US Mint suspends Gold Coin production INVENTORY DEPLETION U.S. Mint now suspends all one ounce gold coin sales due to shortage of physical gold! Once again the U.S. mint has had to suspend sales of all its one-ounce gold coins, and some fractional ones too, as its supplies of physical gold cannot meet the demand. Author: Lawrence Williams Posted: Monday , 07 Dec 2009 LONDON - "The United States Mint has depleted its inventory of 2009 American Buffalo One Ounce Gold Bullion Coins. ... No additional inventory will be made available. As additional information becomes available regarding 2010-dated American Buffalo One Once Gold Bullion Coins, you will be notified." So said a memorandum issued Friday to authorized purchasers of U.S. Mint gold coins and reported by Jim Sinclair.. Mineweb reported only two weeks ago, on November 25th, the suspension of sales of American Gold Eagle coins (See Above Post) by the Mint - U.S. Mint suspends American Eagle 1-ounce gold coin sales - again, which, at the time, reckoned such sales would be resumed early this month - but in the event, not only is the suspension of the Gold Eagle coin sales continuing, but also now the American Buffalo one ounce gold coin sales have also been suspended, with no new sales now planned until some time in 2010 - although the current sharp fall in the gold price may provide the Mint with a bit of respite from its supply/demand woes. Continues: http://mineweb.co.za/mineweb/view/mi...4091&sn=Detail

12-13-2009, 10:40 PM	#6
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: US Mint suspends Gold Coin production Mint to resume sale of gold bullion coins The Denver Post POSTED: 12/12/2009 The U.S. Mint plans to resume the sale of several gold bullion coins next week, the Mint said in a memorandum to authorized purchasers Friday. Sales of some coins had been suspended because of a shortage of blanks. A limited quantity of 2009 American Eagle Gold half-, quarter- and tenth-ounce bullion coins will be offered starting Monday, the Mint said. "Once this inventory is depleted, no additional inventory will be produced," the Mint said. The Mint will resume the sale of 2009 American Eagle gold 1-ounce bullion coins Tuesday. An allocation will be made on a weekly basis until the end of the year, the Mint said. The general public buys the bullion coins from authorized intermediaries, not directly from the Mint. Dow Jones Newswires SOURCE: http://www.denverpost.com/business/c...#ixzz0ZbxJTB3z