The United States Mint has temporarily suspended sales of American Buffalo one-ounce bullion coins to their network of Authorized Purchasers, it was announced Thursday.
"Demand has exceeded supply for American Buffalo 24-karat gold one-ounce bullion coins, and our inventories have been depleted. We are, therefore, temporarily suspending sales of these coins," the Mint said in a memorandum.
The Mint has experienced past depletions in bullion coin inventories, and had to suspend American Eagle one-ounce gold coins back on August 17. Less than a week later, those sales resumed on an allocated basis, which continues to this day.
At the time of this writing, fractional proof and uncirculated collector American Buffalo gold coins, to include one-once versions, are still listed as available through the Mint’s website.
Physical demand for gold and bullion coins has risen sharply, according to many reports, as investors seek the yellow metal’s traditional safe haven status during times of financial uncertainly.
New York December gold dropped $13 to close to $882 an ounce on Thursday.