26 Sep 2008 | 03:48 PM ET : The U.S. Mint is temporarily halting sales of its popular American Buffalo 24-karat gold coins because it can't keep up with soaring demand as investors seek the safety of gold amid economic turbulence.
Mint spokesman Michael White said Friday that the sales were being suspended because demand for the coins, which were first introduced in 2006, has exceeded supply and the Mint's inventory of the coins has been depleted.
The Mint had to temporarily suspend sales of its American Eagle one-ounce gold coins on Aug. 15 and then later that month announced sales of the American Eagle coins would resume under an allocation program to designated dealers.
White said the Mint expected to soon start distributing available Buffalo gold coins through a similar allocation program.
i notice that the buffalo is snorting "in god we trust" - so why are some people trusting GOLD ?
Quote:26 Sep 2008 | 03:48 PM ET : The U.S. Mint is temporarily halting sales of its popular American Buffalo 24-karat gold coins because it can't keep up with soaring demand as investors seek the safety of gold amid economic turbulence.
Okay, now. The government has such a hot product that production can't keep up with demand. Is the solution to raise the price? No, it's to suspend production. No longer do I wonder why the economy is so bad. With that kind of thinking, I begin to wonder why it's as good as it is.
Gold coins aplenty (that's no bull ! - ion)
September 27, 2008
The Royal Canadian Mint is not suspending sales of its gold bullion coins and is able to meet rising investor demand for the precious metal, a spokeswoman said yesterday.
"Although we are facing growing demand, we can keep producing the coins to meet the demand as best we can," said spokeswoman Christine Aquino.
Investors are increasingly interested in gold products as the crisis ripping through financial markets makes them appear as the safest haven.
Coin dealers have reported a surge in buying of coins and other gold products. On Thursday, the U.S. Mint was forced to temporarily suspend sales of its American Buffalo 24-karat gold one-ounce bullion coins because strong demand depleted its inventory.
There had been market talk that Canada might make a similar move. But Canada's mint is less reliant on external suppliers than its U.S. counterpart. "The mint controls the gold bullion manufacturing process from start to finish: We refine our own gold, roll our own strip, make our own blanks and strike our own coins," Ms. Aquino said.
the day i buy gold to hedge against the economy is the day i take a shotgun and disconnect my brain.