No reason for US Mint to stop selling Gold coins to American investors: Gold Coin
The U.S. Mint last failed to produce gold coins in 2009, yet frequently halts sales of some items temporarily due to a low supply of gold. Some say that the law mandating that the U.S. Mint only use U.S.-mined gold hampers the nation’s coin minting ability, but others claim that there is an abundance of U.S. gold to be had.
Gold Coin, a US-based precious metals investment firm, has said that there is no reason for the US Mint to suspend sales of American Eagle Gold coins citing the reason that they have exhausted its supplies.
Stewart Lawson, Vice President of Marketing for Gold Coin, says that his company has lots of U.S.-mined gold in its vaults that the U.S. Mint is more than welcome to buy. “It’s an atrocity that they want to keep American investors from buying gold," Lawson said. “They are selling twice as many as last year yet the want to suspend the coin’s production, and that is a situation where two and two doesn’t make four."
The U.S. Mint last failed to produce gold coins in 2009, yet frequently halts sales of some items temporarily due to a low supply of gold. Some say that the law mandating that the U.S. Mint only use U.S.-mined gold hampers the nation’s coin minting ability, but others claim that there is an abundance of U.S. gold to be had.
Indeed, sales of 1/10 ounce gold Eagles are up 118 percent over the same period last year. The U.S. Mint has sold 175,000 ounces of American Eagle gold coins in April alone, which is on pace to challenge the monthly record of 231,500 ounces that was set in December 2009. According to the Huffington Post, that record takes all weights of the American Eagle gold coin into consideration.
In addition to the suspension of 1/10 ounce gold Eagle sales, Gold Coin has also reported that American Eagle silver bullion coins are on backorder due to the U.S. Mint’s lack of sufficient production of those coins.
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