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Mint gives up

The Mint has given up trying to maintain supplies of all of its bullion coins. It will focus primarily now on the one-ounce American Eagle gold and silver coins. The memo below outlines what the Mint plans to do.

October 6, 2008
 
MEMORANDUM TO ALL AMERICAN EAGLE AND AMERICAN BUFFALO AUTHORIZED PURCHASERS
 
SUBJECT:     2008-Dated Bullion Products
 
Due to the extreme fluctuating market conditions for 2008, as well as current market conditions, gold and silver demand is unprecedented and the demand for platinum is unusually high.
 
The United States Mint has worked diligently to attempt to meet demand, however, blank supplies are very limited and it is necessary for the United States Mint to focus remaining  bullion production primarily on American Eagle Gold One Ounce and Silver One Ounce Coins.  
 
For the remainder of 2008 bullion inventory, the following will apply:
 
American Eagle Gold Bullion Coins
 
One Ounce Coins will remain on allocation each week.  Allocation amounts are based on available quality blanks each week.
 
One Half Ounce Coins: Inventory was depleted last week. No more coins will be produced for 2008.
 
One Quarter Ounce Coins: Inventory was depleted last week. No more coins will be produced for 2008.
 
One Tenth Ounce Coins: Inventory was depleted last week. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.
 
 
American Buffalo One Ounce Bullion Coins
 
Inventory was depleted and sales were suspended in late September. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.
 
American Eagle Silver Once Ounce Bullion Coins
 
American Eagle Silver One Ounce Coins will remain on allocation each week.  Allocation amounts are based on available quality blanks each week.
 
American Eagle Platinum Bullion Coins
 
All denominations were depleted last week. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.
 
We will keep you updated as more information becomes available.  
 

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3 Responses to Mint gives up

  1. This is a disappointing year when it comes to buying bullion coins from the Mint. Gold demand is up, but other government Mints aren’t calling it quits. The US Mint should look to how the Royal Canadian Mint has kept sales going.

  2. I think this will have some serious implications for the collectors versions of the bullion coins, i.e. the 2008 "W" Uncirculated coins and Proof coins.

  3. Gold demand + scarcity = good time to buy US gold coins.

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