Mint Can't Meet Demand|
August 21, 2008
The U.S. Mint is finding the demand for gold and silver bullion coins is almost too hot to handle.
On Aug. 20, it suspended sales of 2008 American Eagle Silver Proof coins so it can devote its limited silver blank inventories to the American Eagle Silver Bullion Program.
On Aug. 15, it suspended sales of the American Eagle gold 1 ounce bullion coins because inventories had been depleted.
"The United States Mint has been experiencing unprecedented demand for American Eagle silver bullion coins this year, exceeding the capacity of our blank vendors," said Mint spokesperson Michael White.
"While Federal law mandates that the United States Mint produce silver bullion coins to meet public demand, there is no such requirement to produce proof versions of these coins," he said.
Cathy Laperle, team lead for the U.S. Mint Bullion Program, said the Mint has inventory for all bullion programs, except for the 1 ounce gold.
"We are working diligently to build up our inventory and hope to resume sales shortly," she said of the 1 ounce gold coins.
Sales of American Eagle Silver Proof coins will resume at a later date, White said, provided that the Mint can acquire sufficient inventories of silver blanks to meet public demand for all American Eagle Silver products.
The Mint is continuing to sell the 2008 American Eagle Silver Uncirculated coins on its Web site at http://catalog.usmint.gov/.
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