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."
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After a long wait, the United States Mint resumed sales of its gold coins. They’re the same coins, but at higher prices. Will the public find them fair? Or shy away with sticker shock?
The Mint first suspended the American Eagle Gold Uncirculated coins on September 13. Later, the proof versions were pulled and finally the American Buffalo Gold proof coins.
As of late Monday afternoon, October 15, all gold coins are now back online and available for immediate purchase.
In a statement released announcing the return, the Mint said:
The United States Mint temporarily suspended sales of American Buffalo Gold Proof Coins and American Eagle Gold Proof and Uncirculated Coins due to significant increases in the price of gold. Gold has been trading near 28-year highs and is at its highest level since 1980. Over the last 30 days, the price of gold has risen more than 12 percent…
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Proof 2007 American Buffalo Gold coins were taken off the market and the American Eagle Platinum Uncirculated coins quickly followed suite.
The bullion coins join the ranks of the American Eagle Gold Uncirculated coins that were removed for sale back on September 13.
Yes, that’s nearly a month ago now.
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President Bush signed the Native American $1 Coin Act mandating the redesign of Sacagawea Dollar. Starting in 2009, the Sacagawea reverse will no longer have the soaring eagle depicted.
Instead, it’ll bear a famous American Indian or American Indian event that’ll change each year.
CoinNews.net has discussed the success and various failures of U.S. dollar coins through past opinions and articles.
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Gold is continuing through its extended gains and hit a spot price of $746.30 an ounce early Monday morning. That’s the highest level seen since January 1980.
Will increasing gold prices continue to forestall the resumption of U.S. Mint gold coin sales? To date, it appears that way.
On September 13th, the United States Mint suspended the sale of all their 2007 American Eagle Gold Uncirculated Coins.
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America loves their series. First came the 50 State Quarters. Next came the Westward Journey Nickels. Then the Presidential $1 Coins.
Now wait… Be patient… And please hold your horses… Why? Because a new Sacagawea Golden Dollars series is on the way.
Is it just me or is your heart NOT racing? Well, the new commemorative Sacagawea Dollars won’t be out until 2009 so maybe there’s time to build some excitement.
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