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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There’s nothing better than some variety between coins to peak a person’s interest and excitement. The 50 State Quarters® and new Presidential $1 Coins highlight how changing a coin’s design every few months can kindle passion with at least collectors.
What’s your excitement level when a batch of coins gets minted but a percentage of them have slight variations compared to others in that coin’s series?
Hold your thoughts… In this case, we’re not talking about coins with errors due to mint manufacturing mistakes or unintended die varieties. (Although these are very intriguing for many collectors too.) Let’s dig in a bit more…
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