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US Mint suspends gold and silver coin sales (again)

From the mint's web site:

Due to the continued, sustained demand for American Eagle Gold Bullion Coins, 2009-dated American Eagle Gold Uncirculated Coins will not be produced.

Due to the continued, sustained demand for American Eagle Silver Bullion Coins, 2009-dated American Eagle Silver Uncirculated Coins will not be produced.

They are required by law to produce bullion coins "in sufficient quantities to meet public demand."



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Where was gold today ?

We need a digital gold price register on this site someplace. Like a stock ticker but goldyer.

We’ve created an online offline 1/2 PRICED GASOLINE CO-OP get half off at the pump through my site below.
http://www.fillerupclub.com/0000/?idFriend=1582

Just one last kick in the nuts, then a final deathblow

SteveMT's picture

Why did we run out? ....Central banks are buying more gold....

may be the reason.

Gold Buying by Central Banks Signals Sell as Past Haunts Future
By Claudia Carpenter and Pham-Duy Nguyen

Dec. 16 (Bloomberg) -- Some of the biggest buyers of gold may be sending the strongest signal to sell it, if past performance is indicative of future results.

Central banks, holding about 18 percent of all gold ever mined, are expanding their reserves for the first time in a generation as a nine-year bull market drives prices to a record.

The banks will buy 13.8 million ounces (429 metric tons) this year, worth $15.5 billion, for the first net expansion in reserves since 1988, New York-based researcher CPM Group estimates. Gold fell 15 percent that year and took another 15 years to trade again at the same price as central banks from Switzerland to the U.K. cut their holdings.

India, China and Russia are now adding to reserves as gold nears its longest winning streak since at least 1948. They’re joining a rush as investors in exchange-traded funds amass holdings to rival the biggest central banks. Clive Capital LLC, manager of the biggest commodities hedge fund, had its best return since May last month, led by gains in precious metals.

“This is late in the game to be buying gold,” said Peter Morici, a professor of business at the University of Maryland in College Park and former economic adviser to the U.S. government. “Central banks are not known for their investment acumen. What it reflects is a lack of confidence in the U.S. economy and the long-term durability of the dollar as a store of value.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=arhlK7_y...

Nice link..tnx

Yes, informative link

.

Link please

I don't see this as being an official statement.

meekandmild's picture

Are you sure it Gold and not Iron Pyrite?

a few stories going around, saying "that's not real gold"

Gold, silver, platinum and palladium, four legs of stability.

Work on Ron Paul's next idea and work for Competing Currencies. This way as Paul says; "A basket of real currencies will be able to compete with the FRN on the market if the 'legal tender' advantage that the FRN hides behind is striped away."

grant

SteveMT's picture

"Do to high demand, the mint will produce more coins."

For any other company, this should be the appropriate response.

Since this is the only department within the government making any money, why stop because of the high demand. This is totally ass-backwards!

For our government, I guess that does makes sense.

It was sort of excusable the

It was sort of excusable the first time. But this is the second time they've run out of blanks. The first time I suspected they just did not want to sell the coins after the price of gold dropped to $700. But now the price is at an all time high, and they still run out of blanks. Only a government agency can be that badly managed.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

the last time they did this

the last time they did this they were actually producing way more coins then they are now.

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

SteveMT's picture

Hopefully, they will not resort to the gilded-tungsten blanks.

That is always a concern these days.

'Guaranteed by the U.S. Government' .... That statement gives me little comfort.

bump

.

Thanks.

Maybe everyone is buying gold for Christmas gifts?

Do you have link to exact webpage?

I don't see this message.

Here you are.

Here you are.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

well I guess I'm going to buy that one with

the panda on it.

Thanks for posting.

Queenie has a cute picture.

Queenie has a cute picture. And a leaf on the back. But my favorite is Fortuna on the Pamp Suisse bars.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

The US dollar index has

The US dollar index has dropped another .20 in the last hour. 74.24 now.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln