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U.S. Mint says has enough gold, silver Eagles coins

By Frank Tang

NEW YORK | Wed Dec 28, 2011 3:10pm EST

NEW YORK (Reuters) - The United States Mint said on Wednesday it has enough American Eagle gold and silver bullion coins to meet demand and does not expect to allocate them in early 2012.

Sales of the U.S. gold and silver bullion coins have slowed in the fourth quarter as precious metals prices retreated from record highs, bucking a trend earlier this year when investors flocked to physical gold and silver as safe havens.

"As we plan on having sufficient quantities of all coins available, we do not anticipate having to allocate the initial release," U.S. Mint spokesman Michael White said in a note.

The Mint had allocated its sales of gold and silver Eagle bullion coins to its authorized dealers in the last several years as unprecedented demand and a lack of coin blanks led to depletion of its supplies.

White said on Wednesday the Mint's recent supply was adequate to meet demand and allocation to dealers was no longer necessary.

Silver Eagles December sales were around 2 million ounces, sharply below its record of 6.4 million ounces set in January -- the highest monthly sales since the start of the American Eagle bullion coins in 1986.

Gold Eagles sales were at 65,000 ounces, about 20 percent below its monthly average this year, the Mint's data shows.

Bullion coins are mostly sold to investors, while the Mint also produces proof and uncirculated coins targeting collectors.
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Comments (4)
Fernao wrote:
better buy up those silver eagles… for when the paper dollar tanks in value…

Dec 28, 2011 10:26pm EST  --  Report as abuse
garuche1 wrote:
Mark my word! The mint will be allocating again
‘no later then mid-January’!

Dec 28, 2011 11:32pm EST  --  Report as abuse
Duffminster wrote:
Yet another year gold beats the S&P and Dow and proves itself to once again to be the real safe haven. This despite the near constant propaganda against it by the anti-gold shills of the central bank propaganda teams and their manipulative counterparts in the largest gold and silver bullions banks, the custodians of the largest gold and silver ETFs and masters of funny business for profit and fun.

We are now at the most solid support and in my opinion this is a good time to place orders for PHYSICAL DELIVERY of gold and silver. $24 is a 50% retracement of the long term silver bull cycle and is super solid support for the next leg up in my opinion.

Dec 29, 2011 6:49pm EST  --  Report as abuse
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