Tags: can't keep up, Gold, life savings, U.S. Mint
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]