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American Eagle gold coins sold out after spree
Posted By admin On August 21, 2008 @ 9:30 am In Money Watch | Comments Disabled
Thursday, August 21, 2008
NEW YORK (Reuters) – A buying spree in the popular American Eagle bullion coins appears to have depleted inventory of major North American coin dealers, contributing to supply fears and sharply higher gold prices on Thursday.
Coin dealers in the United States and Canada said buying of gold coins and other bullion products has soared since last week as gold prices tumbled to near a nine-month bottom.
Blanchard and Co., one of the largest U.S. retail dealers of rare coins and precious metals, said the American Eagle and American Buffalo one-ounce gold coins — novel items among collectors and investors — are currently sold out.
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“Nobody has the Eagles or the Buffalos right now. We bought 2,000 ounces late last week, and those were the last 2,000 ounces that we can find in the marketplace,” said David Beahm, vice president of New Orleans-based Blancard.
“If we don’t have them, nobody has them,” Beahm said.
According to a Thursday report by the Wall Street Journal, the U.S. Mint told dealers it was temporarily suspending all sales of the American Eagle coins due to depleted inventory and unprecedented demand.
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URLs in this post:
 Reuters: http://www.reuters.com/article/domesticNews/idUSN2140103820080821
 US Mint to Suspend American Eagle Gold 1-Ounce Coins: http://www.prisonplanet.com/us-mint-to-suspend-american-eagle-gold-1-ounce-coins.html
 US Mint halts some American Eagle coin production: http://www.prisonplanet.com/us-mint-halts-some-american-eagle-coin-production.html
 US Mint Runs Out Of Buffalo Gold Coins, Will Not Restock: http://www.prisonplanet.com/us-mint-runs-out-of-buffalo-gold-coins-will-not-restock.html
 The mystery of the Double Eagle gold coins: http://www.prisonplanet.com/the-mystery-of-the-double-eagle-gold-coins.html
 US Mint Sells Record 4.2 Million American Eagle Silver Coins In November: http://www.prisonplanet.com/us-mint-sells-record-4-2-million-american-eagle-silver-coins-in-november.html
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