American Buffalo Gold Bullion Sales Suspended
As of September 25, 2008, the United States Mint has suspended sales of American Buffalo one ounce gold bullion coins. The reason for the suspension is that demand has exceeded supply, depleting inventories.
The suspension applies to the bullion coins sold by the US Mint to a network of authorized bullion dealers. The collectible versions of the American Buffalo coin remain for sale on the US Mint's website.
This marks the third suspension of a major US Mint bullion product. Early in the year, 2008 Silver Eagle bullion coins were briefly suspended. Sales resumed, but on a rationed basis leading to the ongoing 2008 Silver Eagle shortage. In August, 2008 Gold Eagles were suspended. Once again sales resumed, but on a rationed basis.
The following memorandum was released by the Mint regarding the latest suspension:
September 25, 2008
MEMORANDUM TO ALL AMERICAN BUFFALO AUTHORIZED PURCHASERS
SUBJECT: American Buffalo 24-Karat Gold One-Ounce Bullion Coins
Demand has exceeded supply for American Buffalo 24-Karat Gold One-Ounce Bullion Coins, and our inventories have been depleted. We are, therefore, temporarily suspending sales of these coins.
We are working diligently to build up our inventory and hope to resume sales shortly. We will keep you updated as information becomes available.
The United States Mint currently has inventory of the following bullion coins: American Eagle Gold fractional coins (1/2 oz., 1/4 oz., 1/10 oz.) and American Eagle Platinum (all denominations). Allocations will continue for the American Eagle 22-Karat Gold One- Ounce and American Eagle Silver Bullion Coins.
Thank you for your patience and understanding.
Labels: Gold Buffalo