Gold Coin Sales Halted by U.S. Mint, Round Two

by CoinNews.net on November 5, 2007 · 6 comments

Gold climbed to its newest 28 year high Monday, November 5. It reached $814.20 on the New York Mercantile Exchange and finally settled to $810.80 an ounce.

In reaction and as CoinNews.net analyzed and then predicted Friday, Nov. 2, the United States Mint halted Uncirculated Gold American Eagles sales once again.

Similar to their very first suspension on September 13, the U.S. Mint listed below each of their American Eagle Gold uncirculated products (one ounce, one-half ounce, one-quarter ounce, one-tenth ounce and four-coin set) the following statement:

"Due to the increasing market value of gold, the American Eagle Gold Uncirculated Coins are temporarily unavailable while pricing for this option can be adjusted; therefore, no orders can be taken at this time."

The last time the Mint suspended the American Eagles Gold sales, they were unavailable for over a month. The suspension was finally lifted October 15.

How long they’ll be unavailable this round only the Mint knows. Perhaps they’ll finally initiate a system where the price of their bullion coins can fluctuate with the daily bullion market and stoppages become mute. A continual stop and go product policy isn’t very conducive to maintaining a trusting customer base.

At the time of this writing, the Mint’s proof gold coins – American Eagle and Buffalo – are still available for sale.

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