U.S. Mint Runs Out of One Ounce Gold Coins
November 27th, 2009Via: 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.
Increasing worries about inflation, a falling U.S. dollar and geopolitical tensions are prompting individual investors to take physical possession of gold coins and other bullion products due to the metal’s appeal as a safe haven in financial and political crises.
Gold hit a record high at just under $1,190 an ounce on Wednesday due to a broadly lower dollar and renewed interest from central banks. Year to date, the metal has risen more than 35 percent.
show concern? HA!
the exporters are breaking out in an H1N1-like sweat as we speak.
sorry, the above comment was meant for the yen-monster thread. woops. anyway, japan is squirming.