Mint News Blog

News, Information, and Commentary on US Mint Products

Wednesday, November 25, 2009

Gold and Silver Eagle Bullion Coin Sales Suspended


News is currently circulating that the US Mint has suspended sales of American Gold Eagle and American Silver Eagle bullion coins. The suspension comes amidst an extraordinary rise in the price of gold, which has posted gains for seventeen out of the last eighteen trading days.

The suspension of American Eagle coins was caused by strong demand which depleted the Mint's inventory. The US Mint reportedly continues to strike the coins and expects to resume sales in early December. Fractional American Gold Eagle bullion coins are also expected to be available for sale starting on December 3. These 1/2 oz, 1/4 oz, and 1/10 oz gold coins have not been offered so far during 2009.

The Mint previously suspended sales of Gold and Silver Eagles during 2008, only to resume sales under a rationing program, which remained in place until June 2009.

In the month of November, the US Mint has sold 124,000 one ounce Gold Eagle bullion coins. This compares to 115,500 coins sold in the prior month. Earlier in the year the US Mint had sold as many as 147,500 coins in a single month.

The number of one ounce Silver Eagle bullion coins sold so far during November is 2,586,500. This compares to 2,939,000 coins sold in the prior month. The highest monthly sales for the year were achieved in March when 3,132,000 coins were sold.

Total sales to date for US Mint gold and silver bullion coins are shown below. Sales of the Silver Eagle are already at an all time annual high. Gold Eagle and Gold Buffalo coins have recorded higher annual totals in past years.
US Mint Bullion Coin Sales Year to Date
2009 Silver Eagle 25,993,000
2009 Gold Eagle (1 oz) 1,193,500
2009 Gold Buffalo 171,500

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48 Comments:

At November 25, 2009 at 1:47 PM , Anonymous Anonymous said...

PANIC!!!!

 
At November 25, 2009 at 1:49 PM , Anonymous Anonymous said...

Panic, indeed.

Is the endgame of the dollar approaching?

 
At November 25, 2009 at 2:16 PM , Anonymous Anonymous said...

are buffs next?

 
At November 25, 2009 at 2:37 PM , Anonymous Anonymous said...

God, I hope they make the fractionals. I just preordered a 2009 1/10 oz as a gift for Christmas. It would suck to get a substitute for it!

 
At November 25, 2009 at 2:55 PM , Anonymous Anonymous said...

Dont be down.

I heard they're makeing some nice substitute ones out of tungsten

 
At November 25, 2009 at 2:59 PM , Anonymous Anonymous said...

Relax and think out of the box!

Silver bullion Eagles are temporarilly "suspended" due to "demand" and the escalated price of silver. Hmmmmmmm, the profit margin to channel these commerce pieces thru & to "authorized" resellers is creating a strain and prices which the reseller won't be able to pass along just in time for Christmas gift giving.

On the other hand, the Mint, in it's infinite misplanning will suddenly find enough Silver balnks in a "limited quantity" that they will now produce Proof Eagles and get off the hook. Yes Virginia, it's all a shell game girl, but Moy appears as a total buffoon to members or Congress, and has heard from Secty of the Treasury.....both are not happy with his performance. Without intending to be meanspirited, we also wonder whether Moy's brain surgery just a few years ago hasn't started to regress. Hope not, but something needs to explain the outrageous actions, pronouncements and failures at the world's greatest Mint. We wish Director Moy no personal harm, but this guy has got to go. In ANY business in this country, actions and failure would result in immediate dismisal. Like it or not, the Mint is a business and incessant failures cannot be tolerated forever.

 
At November 25, 2009 at 3:05 PM , Anonymous Anonymous said...

I heard a report on the radio this afternoon about no more "eagle" gold coins at the mint...I didn't hear the whole report, but I think they said it would only be a temporary affair...

The President when asked about the problem said, "Let them eat cake."

 
At November 25, 2009 at 3:18 PM , Anonymous Anonymous said...

I received my Buffalo gold proof this afternoon...
Thank you US Mint, you produced a true classic.

It arrived in a very nice presentation box and the coin is lovely.

Finally, perfection.

Goldilocks

 
At November 25, 2009 at 5:04 PM , Anonymous Reality Check said...

Prices rise, people notice, they rush to buy to get on the bandwagon. This increases demand, prices keep going up.

Then... POP! POP! POP! The bubble bursts. The $1,000s of dollars people spent to "invest" has gone down the tubes.

Of course, you know what I'm talking about. Real estate and stocks....

Who said I was talking about gold?

 
At November 25, 2009 at 5:09 PM , Anonymous Anonymous said...

Can Everyone PLEASE stop bickering about the Gold Bubble and when it will burst. Every other message is the same as it is getting very old.

 
At November 25, 2009 at 5:22 PM , Anonymous Anonymous said...

Well all you doom & gloomers, this news will really drive down the price of gold now won't it? Look for another $50-75 increase next week. Face it, your OBAMA dollars are eventually going to make some great toilet paper.

 
At November 25, 2009 at 5:37 PM , Anonymous Stars and Stripes Forever said...

I am an America and proud to be one.

I believe in the USA. We've been through tough times before and we've always pulled through.

I remember -- when Reagan became President in 1980, inflation was around 13%. Unemployment went up to 10.8%. Gold prices were skyrocketing. People spoke about the collapse of the USA.

But we pulled through. And the USA has always pulled through tough times. We will again.

America - love it or leave it.

 
At November 25, 2009 at 5:56 PM , Anonymous Anonymous said...

Let's think about it. Keep gold in case the dollar becomes worthless. Yep, go into Best Buy with some gold and silver coins to buy a new TV for the family room.
When that happens, I'm going to join the Michigan Militia (maybe I should join anyhow). Have a little faith in the USA! Actually if you really want to secure a future for yourselves and the children of America then start buying products made in USA and avoid buying Chinese products (don't buy at Walmart). Look at your labels on everything.
please pass on: CHINAFREECHRISTMAS.INFO (not .com)
to your friends and family. This strategy may make you lose money on your Buffalos, but will actually make your dollars worth more so you can buy more coins!
God Bless America!

 
At November 25, 2009 at 6:02 PM , Anonymous Anonymous said...

Can Everyone PLEASE stop bickering about the Gold Bubble and when it will burst.

Gold bubble? What gold bubble? My friends and neighbors know nothing about gold or silver, and that's the same for vast majority of the population. They're all waiting for real estate prices to rise. BWAHAHAHAHA

 
At November 25, 2009 at 7:40 PM , Anonymous Anonymous said...

Personally, I try to put 5-10% of my investment portfolio into precious metals. The remainder is a mix of real estate (my home), money market funds, stocks, bonds, etc.

Of the precious metals, I try to mix in a few collectible coins (e.g., 2008 W Buffs); hence, one of my interests in this website. And Michael's commentaries early in the year proved to be very beneficial for those who heeded them.

Yes, I plan to purchase more gold and silver as the opportunities arise - bubble or no bubble - and in the process enjoy this as the fun and interesting hobby that it is.

 
At November 25, 2009 at 8:13 PM , Anonymous Anonymous said...

So much for the 2009 proof silver eagles, if they can't make the bullion coins then all the blanks are gone.

 
At November 26, 2009 at 7:10 AM , Anonymous Anonymous said...

What is the future of UHR eagle. Is it a first in a series or going to be just one time coin?

 
At November 26, 2009 at 10:27 AM , Anonymous Anonymous said...

The future of UHR eagles?
What a disappointment!!!

I thought maybe they sent me a 1/2 oz UHR by mistake (not reallly, but that's what it looks like).

I feel a bit like the emperors new clothes. The UHR is the same diameter as my gold 1/2 ounce spouse coins!! What a rip! Obviously the "high relief" may technically need a bit of a smaller diameter for a larger depth (though I'm not convinced), but seems a unlikely that it has to be exactly the same diameter as the 1/2 oz coins!!

Somewhere inbetween would have been more visually pleasing. How often do you visually admire the rim of a coin???

Anyone out there agree? I think they should consider making a 1 oz gold coin visually look like 1 oz, not a 1/2 oz.

UHR is Ultra small and ultra-expensive...Have you guys actually looked at the coin?

 
At November 26, 2009 at 11:22 AM , Anonymous Anonymous said...

Yea, I sort with the above commenter the UHR should be larger. Since it is one ounce it should look like it. Maybe it should have been 90% gold but then maybe they couldn't do HR on a less pure coin. However, I have so many other issues with the Mint that it does not readily show up on my Mint radar as a real big problem. It sold over 100 large so by that standard it is a success irregardless.

 
At November 26, 2009 at 1:08 PM , Anonymous Anonymous said...

Anonymous at November 25, 2009 5:46 PM said...

Homes are also a "real" asset like gold. Try building one from scratch and see how much it will cost you in gold Buffalos. I give you that Obama wants to print a bunch of money and have the government take over everything and run things like the post office BUT the dollar buys me stuff for Christmas just as well

 
At November 26, 2009 at 1:19 PM , Anonymous Anonymous said...

PUBLIC BEWARE!

With gold prices going up and up, speculative demand is apparent. When the bubble bursts -- POP! Your dreams will be shattered.

There are flippers and entrepeneurs here. Be careful of what you spend your money on. If the story sounds too good to be true, then watch out.

PS - based on comments on these blogs, you can tell why some folks are sensitive to this matter. Why not? It's not their money that they will be losing in the long run.

POP! POP! POP !!

 
At November 26, 2009 at 2:21 PM , Anonymous Anonymous said...

Every other post on here is "Pop" "Pop" "pop"....seriously we get the point. Next time someone wants to post a comment about the gold bubble due us all a favor and simply dont post. There are many precious metal forums online, post your thoughts on the gold bubble there.

 
At November 26, 2009 at 2:35 PM , Anonymous Anonymous said...

Do a quick google on the price history of gold and you'll see it's not a prudent long-term investment. In fact, for most time periods over the last several hundred years it barely keeps up with inflation.

Of course, if you believe the next 3 years will be like the last 2 in terms of gold, I strongly recommend you invest in the metal. Heavily. Let us know how that turns out.

 
At November 26, 2009 at 3:21 PM , Anonymous Anonymous said...

While you're doing that google search, look at how much value the U.S. dollar has lost since 1972 and ask yourself does the dollar's future look any brighter now than it did 35 years ago?

 
At November 26, 2009 at 4:10 PM , Anonymous Anonymous said...

And while you're at it, check and see how much historical demand there has been for gold in china and india and compare it to today.

 
At November 26, 2009 at 4:10 PM , Anonymous Anonymous said...

Anonymous at November 26, 2009 3:21 PM...

Like most gold speculators, you failed to respond to the complete question....

Invest in gold heavily. Put $100 K into gold. After three years, please let us know how rich you've become.

GO! GO! GO! Make a fortune with GOLD!

Pop? Nope. KABOOOOOOOM !!

 
At November 26, 2009 at 4:12 PM , Anonymous Anonymous said...

And while you're at it, check the trade deficit and how it's growing. Oh, and while you're at it, check the level of US debt and how it has grown exponentially over the past couple of years.

 
At November 26, 2009 at 4:13 PM , Anonymous Anonymous said...

Oh and while you're at it, check the level of money printing by the Fed and compare it to the historical data. Also check the US bonds coming due and see how the USA plans to pay those (more printed money?).

 
At November 26, 2009 at 4:15 PM , Anonymous Anonymous said...

Oh while you're at it, check the level of government takeover of private industry (which is what our economy is based on). We all know the government is much more efficient at running things than the private sector. (sarcasm intended)

 
At November 26, 2009 at 4:17 PM , Anonymous Anonymous said...

Oh and while you're at it, check the reams and reams over unprecedented personal debt.

Yeah, it does make sense to compare today with historical data since neither one has anything in common with the other. So many ostriches out there!

 
At November 26, 2009 at 4:18 PM , Anonymous Anonymous said...

LOL @ anon 2:35!!
Would you consider 10 years to be 'long term'? How has gold fared vs. stocks in that time frame?
It's hilarius how gold bears bring up golds 100 or 200 or 300 year track record, whatever suits them at the moment, to prove that gold is a lousy long term investment, as if they plan to live 100 years to enjoy returns on investment!! That's classic 'dave ramsey' logic there. LOL
I dunno about you, but 10 years is a long time to me. Gold will continue to kick stocks' butt for quite awhile longer now. The public is just now starting to stir about gold --- barely--- but when they finally go whole hog, look out. It will make to '80 frenzy pale. The simple absolute fact is the fundmantals for the US are an order of magnitude worse now.

 
At November 26, 2009 at 5:01 PM , Anonymous Anonymous said...

A lot of financial "experts" especially on CNN who now claim there is a gold bubble never saw a housing bubble or any other "bubble." Therefore based on my observation of the "experts" expertise I would have to say there is no yellow bubble. You make your own call.

 
At November 26, 2009 at 5:25 PM , Anonymous Anonymous said...

Most "Finacial Experts" are no better at predicting the future than the average fortune teller. They all hate gold because there's very little money in it for them.

 
At November 26, 2009 at 5:29 PM , Anonymous Anonymous said...

ALERT!

Be very careful of those who post here. The majority are honest people. But like Cragislist, there are scammers here.

Be very, very careful. Before you make any financial decision, check out different websites, your financial advisors, and others who are experts in their field. Do not make investments based on the opinions on this board.

END OF ALERT!

 
At November 26, 2009 at 5:48 PM , Anonymous Anonymous said...

Alert? WTF?
The only thing I'm advocating is sound judgement. I really don't see anybody selling anything here, They're just commenting on the current situation.
Please consult your local fortune teller before investing in anything.

End of Alert!

 
At November 26, 2009 at 7:14 PM , Anonymous Anonymous said...

oh and while you're at it,look in the mirror,there's a booger hanging out of your nose!

 
At November 26, 2009 at 7:15 PM , Anonymous Anonymous said...

Alert, Alert: I have a gold mine with pure nuggets the size of watermelons lying all around the mine. Seems like after a heavy rain more pop to the surface. I now have all I need so will rent rights to pick up nuggets for one day. Please send me check for 50 large and I will send map. End of alert.

 
At November 26, 2009 at 8:31 PM , Anonymous Anonymous said...

Alert

This blog has gone to Hell

End Alert

 
At November 27, 2009 at 5:40 AM , Anonymous Anonymous said...

The brief correction in gold prices is happening now, it's down almost $30/ounce today - after this the prices will head towards $1,300/ounce starting next week. woot!

 
At November 27, 2009 at 5:47 AM , Anonymous Anonymous said...

Your "brief correction" is probably tied more to the Dubai situation than an actual correction.

 
At November 27, 2009 at 6:35 AM , Anonymous Anonymous said...

Back to actual coins:

Just received my first Buff proof - a very nice looking coin, indeed. nice size and heft, too.

As for gold prices...they will go where they go. Correction yesterday/today will weed out some speculators, no doubt.


I would just point out that looking at gold vs dollar for two hundred yrs makes no sense, since U.S. was on Gold Standard prior to 1930s (duh). And dollar was still convertible into gold by foreign central banks until Nixon abolished all ties to gold in 1970s.

 
At November 27, 2009 at 7:06 AM , Anonymous Anonymous said...

The dubai situation doesn't do anything directly to gold but it gives and will continue to strengthen the dollar. Thank you dubai.

 
At November 27, 2009 at 7:55 AM , Blogger HBGuy said...

I suggest that anyone concerned about the long-term performance of gold read "The Golden Constant: The English and American Experience 1560-2007" by Roy Jastram and Jill Leyland.

It's available from Amazon and other sites. I'd be interested in comments from anyone who has actually read this book.

 
At November 27, 2009 at 12:27 PM , Anonymous Anonymous said...

If the econonomy falters then the dollar will strenghten thereby gold and silver will go down. BUT remember it is all about the US dollar right now and I don't see any sign of the Fed or the Gov stopping the printing presses or the stimulus. The Dow is almost at 11,000 and they are already talking about another stimulus. As soon as the safe haven becomes commodities, something we all need to survive, and gold then you will see PM skyrocket for 2 - 5 years. Then when you are having Thanks Giving dinner and everyone is talking about gold at the dinner table, its time to sell. This is not coming from a gold bug.

We currently have a triple A rating on the dollar, DO WE REALLY DESERVE A TRIPLE A RATING???

 
At November 27, 2009 at 12:35 PM , Anonymous Anonymous said...

Invest wisely!

 
At November 29, 2009 at 10:18 AM , Anonymous Anonymous said...

The bleak outlook recalls the early 1980s. A slump from January to July 1980 was followed by a brutal 16-month recession that lasted from July 1981 to November 1982. Unemployment soared to 10.8 percent. President Ronald Reagan's Republicans lost 26 House seats in the 1982 elections.

In 1982, as now, headlines were bleak. Many economists were forecasting a long, anemic recovery. The usual engines of job growth seemed idled. The U.S. was losing its industrial edge to an emerging Japan. People were hoarding gold. The downturn was called the worst recession since the Great Depression.

Sound familiar?

Yet all the grim warnings turned out to be misplaced. By 1984, the economy was humming. Reagan was re-elected in a landslide. One of the longest economic expansions in U.S. history was under way, lasting for nearly two decades — with a few bumps.

 
At November 29, 2009 at 11:00 AM , Anonymous Anonymous said...

And what has the national debt done since 1982?

Freddie and Fannie Mae were not insolvent, as they are now.

 
At November 29, 2009 at 11:46 AM , Anonymous Anonymous said...

I am a very optimistic person but I think people need to educate themselves about the US Gov's balance sheet before making comments about this country growing again. Lets be realists and think where were we in the early 80's and where are we now. What was the avg age of our population and what is it now? What is the yound adults mentality these days and what was it then? We were a very ambitious country back then and in a much better position. I hope to god that I am wrong about the bleak outlook that I see coming for this country and all you optimists are right.

 

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