Last Friday I wrote that Krugerrands were in short supply on the American bullion coin market and asked how long it would be before high demand overwhelms the U.S. Mint’s ability to delivery gold and silver American Eagle bullion coins.
According to Pat Heller, that point seems to have been reached. The Mint has told the market it cannot supply gold and silver American Eagles.
The Mint says it is still striking them, according to the memo that outlined what it was doing that I wrote about on Monday. It expects to have some new supply of the silver American Eagles in early December and West Point is working to supply additional 2009 gold American Eagles also.
Obviously, market conditions are changing fast.
On a happy note, South Africa has been shipping in more Krugerrands and supplies are loosening up.