• 24 Apr 2013 at 3:13 PM

Investors Psyched About Turning $150 Into $160

Everyone wants a piece of gold’s modest rebound since its little, once-in-30-years hiccup a week and a half ago. And the U.S. Mint simply can’t keep up with the demand from people with $150 and a burning desire to catch the bottom of the market.

“While the one ounce gold bullion coins remain the most popular, demand for the one-tenth ounce coins has remained strong too, with year-to-date demand for these coins up over 118% compared to the same period last year,” the Mint said Monday in a memo to authorized purchasers. “Accordingly, the United States Mint has temporarily suspended sales of its one-tenth ounce gold bullion coins while inventories can be replenished…

That doesn’t appear to have slowed coin buyers. The Mint sold 85,000 of the one–tenth ounce coins in April, the second-strongest monthly total after January….

The Mint’s American Eagle Gold Bullion Coins are sold in four sizes: one ounce, one-half ounce, one-quarter ounce and one-tenth ounce, the Mint said. Total sales of all size coins so far this year have more than doubled compared to the same period in 2012, the Mint said.

U.S. Mint Suspends Sale of Smallest Gold Bullion Coin [WSJ Real Time Economics blog]

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Comments (20)

  1. Posted by Puck It | April 24, 2013 at 3:21 PM

    Retail Investors Psyched About Turning $150 Into $80

    There, fixed that headline for you.

  2. Posted by 1+1=100 | April 24, 2013 at 3:41 PM

    you live in a fiat world where not only does the fed increase the money supply, but so does every bank. this is a point that is never really discussed. however, if you just sit back and think logically, every time a bank extends a loan through fractional reserve banking, it has increased the money supply and marked this as an asset on it's books. while i refuse to put a timeframe on this subject, fiat days are numbered. i'm a student of history, not academia.

  3. Posted by Missing Matt | April 24, 2013 at 3:41 PM

    The "retail" would have been one too many words for Shazcan to type

  4. Posted by 1 -1 =0 | April 24, 2013 at 3:52 PM

    You've obviously never tried to carry around bars of gold to pay for stuff either.

  5. Posted by Captain Obvious | April 24, 2013 at 3:52 PM

    Did you get lost on the way to Zerohedge?

  6. Posted by 1+1=100 | April 24, 2013 at 3:59 PM

    no. i got here just in time for you to post two degrading comments, within the same 60 second window, about my views on modern economics. hit the showers.

  7. Posted by PermaGuestII | April 24, 2013 at 3:59 PM

    You realize that metallic currencies can be and have been debased too, right? Gresham's Law was named in the mid-19th Century, and Sir Thomas Gresham, who articulated the concept, died in 1579.

    -Also a student of history

  8. Posted by Retard Watch Quant | April 24, 2013 at 4:01 PM

    That's because your views on modern economics display degraded mental faculties.

  9. Posted by 1+1=100 | April 24, 2013 at 4:03 PM

    krugman, that you?

  10. Posted by guest | April 24, 2013 at 4:10 PM

    Matt, come back!!!!!!!

    Sha-zero has the leading post count, and as a result of Bess is too depressed to write. Or maybe it's the other way around. Either way, get yo ass back to HQ.

  11. Posted by 1+1=100 | April 24, 2013 at 4:12 PM

    my understanding, and correct me if im wrong, is that this applies to when coins arentmade of 100% of the bullion. or if a coin was 50% silver and 50% zinc. the romans were famous for this, and their citizens caught on eventually.

  12. Posted by guest | April 24, 2013 at 4:13 PM

    Are you clueless or just self-deprecating?

    "can't keep up" = the essence of Shazar

  13. Posted by 8==o ---- | April 24, 2013 at 4:19 PM

    You catch on quick.

  14. Posted by Succinct Guest | April 24, 2013 at 4:19 PM

    Your understanding is wrong.

    Fuck off.

  15. Posted by KingCo | April 24, 2013 at 4:22 PM

    Shazar.

    OTTIHNC

  16. Posted by only wednesday? | April 24, 2013 at 4:27 PM

    that guy likes gold

  17. Posted by guest | April 24, 2013 at 5:56 PM

    Stay golden, pony boy

  18. Posted by NannyNannyBooBoo | April 24, 2013 at 6:26 PM

    And certainly not a student of capitalization or punctuation.

  19. Posted by guest | April 24, 2013 at 10:47 PM

    That's a relief, I know for a fact those cubes in my pantry are 100% bullion.

    - UBS Head of Currency

  20. Posted by Butcher | April 25, 2013 at 2:54 PM

    It sounds like you've got beef.