US Mint Suspends Production of More Gold and Silver Coins
March 14, 2009 | Filed Under US Mint
The United States Mint has officially announced the suspension of another slate of gold and silver products. The affected products are 2009 dated American Gold and Silver Eagle coins produced for collectors. These coins are considered collectible versions of the bullion coins.
Although these are collectible coins, they represent a sizable amount of precious metals sales and represent a method of gold and silver investment for many individuals. Last year, the US Mint sold 1,157,911 ounces of silver in the form of Silver Eagle coins minted for collectors. They also sold 155,740 ounces of gold in the form of Gold Eagle and Gold Buffalo coins minted for collectors.
The following message was posted on the US Mint's website in the space where the collectible Gold Eagle coins typically appear. The proof coins has been offered uninterrupted since 1986. The uncirculated version has been offered since 2006.
Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins. Currently, all available 22-karat gold blanks are being allocated to the American Eagle Gold Bullion Coin Program, as the United States Mint is required by Public Law 99-185 to produce these coins “in quantities sufficient to meet public demand . . . .”
The United States Mint will resume the American Eagle Gold Proof and Uncirculated Coin Programs once sufficient inventories of gold bullion blanks can be acquired to meet market demand for all three American Eagle Gold Coin products. Additionally, as a result of the recent numismatic product portfolio analysis, fractional sizes of American Eagle Gold Uncirculated Coins will no longer be produced.
A similar message is posted in the section where collectible American Silver Eagle coins would typically appear. The proof coins have also been offered uninterrupted since 1986 and the uncirculated coins since 2006.
Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”
The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.
This adds to the lengthy list of 2009 dated precious metals products that have been "temporarily delayed" or suspended by the US Mint. In my previous post Actions of the US Mint Discourage Gold Ownership, I mentioned the delayed release of 2009 Gold Eagle fractional coins, 2009 Gold Buffalo coins, and all 2009 Platinum Eagle coins. The delay, which was first announced in November 2008, continues with no further explanation provided.
For those keeping track, here is a list of the US Mint's 2009 precious metals products that have been "temporarily delayed" or suspended:
- 2009 American Gold Eagle 1/2 oz. (bullion)
- 2009 American Gold Eagle 1/4 oz. (bullion)
- 2009 American Gold Eagle 1/10 oz. (bullion)
- 2009 American Platinum Eagle 1 oz. (bullion)
- 2009 American Platinum Eagle 1/2 oz. (bullion)
- 2009 American Platinum Eagle 1/4 oz. (bullion)
- 2009 American Platinum Eagle 1/10 oz. (bullion)
- 2009 American Gold Buffalo 1 oz. (bullion)
- 2009-W Proof American Gold Eagle 1 oz. (collector)
- 2009-W Proof American Gold Eagle 1/2 oz. (collector)
- 2009-W Proof American Gold Eagle 1/4 oz. (collector)
- 2009-W Proof American Gold Eagle 1/10 oz. (collector)
- 2009-W Proof American Gold Eagle 4 Coin Set (collector)
- 2009-W Uncirculated American Gold Eagle 1 oz. (collector)
- 2009-W Proof American Silver Eagle (collector)
- 2009-W Uncirculated American Silver Eagle (collector)
In addition, the following precious metals related products were discontinued by the US Mint for 2009. These discontinuations were announced in November 2008. Amidst the environment of unprecedented demand for precious metals, the US Mint determined that these products were "unpopular."
- Uncirculated American Gold Eagle 1/2 oz. (collector)
- Uncirculated American Gold Eagle 1/4 oz. (collector)
- Uncirculated American Gold Eagle 1/10 oz. (collector)
- Unriculated American Gold Eagle 4 Coin Set (collector)
- Uncirculated American Gold Buffalo 1 oz. (collector)
- Uncirculated American Gold Buffalo 1/2 oz. (collector)
- Uncirculated American Gold Buffalo 1/4 oz. (collector)
- Uncirculated American Gold Buffalo 1/10 oz. (collector)
- Unriculated American Gold Buffalo 4 Coin Set (collector)
- Proof American Gold Buffalo 1/2 oz. (collector)
- Proof American Gold Buffalo 1/4 oz. (collector)
- Proof American Gold Buffalo 1/10 oz. (collector)
- Proof American Gold Buffalo 4 Coin Set (collector)
- Uncircualted American Platinum Eagle 1 oz. (collector)
- Uncircualted American Platinum Eagle 1/2 oz. (collector)
- Uncircualted American Platinum Eagle 1/4 oz. (collector)
- Uncircualted American Platinum Eagle 1/10 oz. (collector)
- Uncircualted American Platinum Eagle 4 Coin Set (collector)
- Proof American Platinum Eagle 1/2 oz. (collector)
- Proof American Platinum Eagle 1/4 oz. (collector)
- Proof American Platinum Eagle 1/10 oz. (collector)
- Proof American Platinum Eagle 4 Coin Set (collector)
That makes a total of 38 precious metals products which have been delayed, suspended, or discontinued by the US Mint.
As it currently stands, investors or collectors looking to purchase newly minted American Eagle or American Buffalo precious metals products have only two options available. These are the 2009 1 oz. American Gold Eagle and the 2009 1 oz. American Silver Eagle. Both of these products continue to be subject to rationing.
Tagged with: Gold Eagles, Platinum Eagles, Silver Eagles, US Mint
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35 Responses to “US Mint Suspends Production of More Gold and Silver Coins”
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A MOST interesting read! No Silver No Gold to produce coins??!! AND STILL Silver & Gold prices FALL! WHAT A JOKE! What does it take or people to see MANIPULATION at play? This game will not last forever.
See US Minst source:
http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?catalogId=10001&storeId=10001&categoryId=13238&langId=-1&parent_category_rn=10191&top_category=10191
So, with all these freed up gold blanks, trained employees and bullion they must be producing huge amounts of the other coins that they are rationing???? Say what?
If the stock and bond markets were turned upside down by the elimination of Glass-Steagall and and they were, the uptick rule was removed to benefit stock market traders, who many people allege were manipulating the market. Political friends were given inside (info) or advantage; HOW WOULD IT BE POSSIBLE THAT ONLY THE GOLD AND SILVER MARKETS WERE THE ONLY MARKETS COMPLETELY UNTAINTED BY THE SAME INSIDERS WHO DESTROYED THE STOCK MARKET???????????????
To believe that any market in this environment was untainted requires suspension of credulity!!!!!!!!!! or 2 and 1/2 bubbles off center!!!!
Thanks
Eugene
I agree wholeheartedly. GOT GOLD?? TT
The demand for any U.S. gold/silver/platinum coin is so huge, the mint can produce the weirdest fractional size of these coins and still the public would consume it all. So many coin shops have empty shelves, it’s a joke already these low prices on bullion. Eventually, the premiums on coins will reach 100% if the U.S. Mint keeps it up, which will lead to even worse hoarding by the public because the COMEX’s daily prices will be meaningless. There’s only one conclusion: the govt is anti constitutional and does not want the public to own gold and silver and platinum; inversely, they want no one to have an escape hatch for the mountains of worthless paper assets. Get ready for precious metals prices to skyrocket!
Our financial markets and banking system are completely corrupt. The dollar is fake Monopoly money obtained through graft and political pull. The only protection for the average person is physical ownership of gold or silver; that is why the crooks running the goverment are restricting the supply. Madoff, Cramer, Nocera, Summers, Geithner, Bernanke and the rest - birds of a feather. They have and are looting this country.
Our financial markets and banking system are completely corrupt. The dollar is fake Monopoly money obtained through graft and political pull. The only protection for the average person is physical ownership of gold or silver; that is why the crooks running the goverment are restricting the supply. Madoff, Cramer, Nocera, Summers, Geithner, Bernanke and the rest - birds of a feather. They have and are looting this country.
Should say great post. Can’t wait to reading the next one!
There continues to be two gold and silver markets:
the physical (real) and the COMEX (paper). Since the COMEX prices are manipulated down by our government through their stooges at the bullion banks, the obvious solution is for investors to buy contracts on the COMEX market and then STAND FOR DELIVERY. MAKE SURE TO HAVE YOUR GOLD TAKEN OUT OF THE COMEX WAREHOUSE AND DELIVERED TO YOU. WHEN ENOUGH PEOPLE DO THAT SIMPLE THING, THEN THE WAREHOUSES OF THE COMEX WILL BE CLEANED OUT. THAT MEANS: GAME OVER!!!!
And there’s bonus: you don’t have to pay a ridiculous premium for the metal. You get it at the manipulated (down) price. WAKE UP. COME OUT OF YOUR COMAS. JUST DO YOURSELF AND YOUR FELLOW INVESTORS A FAVOR AND PUT AN END TO THIS FRAUD.
The problem with Comex contracts is that one of them costs a small investor many times the price of a one ounce gold coin.
I wish the banks in Australia would still accept gold as collateral!
Sounds like the US government would rather keep whatever gold they possess, instead of exchanging it for their own paper currency.
For the average small investor, the purchase of gold or silver coins from the mint (or bullion/coin dealers) is the only practical way to purchase gold or silver.
I think it’s obvious that the government does not want people to own precious metals. What’s next - a legislative decree forbidding the ownership of gold?
[...] Originally posted here: US Mint Suspends Production of More Gold and Silver Coins | Gold … [...]
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The government corruption will still go even further when it decrees that gold and silver bullion be turned over to them, just as FDR did in 1933. If you want protection, you’d better buy into numismatic gold and silver, because the foreign central banks are going to demand payment of US debt in gold and silver. So much for the constitution. This is NOT change we can believe in.
[...] March 14, 2009 | Filed Under US Mint | 11 Comments [...]
This is a Big Deal..
Buy More Gold and Silver..! Get out of all paper assetts ASAP.. Sell off your toys and un-used stuff on ebay ASAP raise cash.
Buy Tuna Fish , Beans , Canned Goods Now.
Higher Prices are coming.. Buy Ammo for your guns. Be Prepared…
the mint seems to be a good area to create some jobs
maybe they can pay them in gold
THIS IS OUTRAGEOUS, ON THE ALEX JONES SHOW A POLICEMAN BLEW THE WHISTLE ABOUT FBI LITERATURE AND TRAINING GIVEN TO POLICE SAYING THAT PEOPLE WHO SUPPORT RON PAUL BUY GUNS ,KNOW THE US CONSTITUTION AND OWN PHYSICAL GOLD ARE NOW DANGEROUS RADICALS, AND POTENTIAL TERRORISTS. THIS IS THE REAL REASON FOR THIS FAKE SCARCITY. BUY GUNS, HOARD FOOD, BECOME SELF SUFFICIANT. THE WILD CONSPIRACIES AND PARANOID CRAZY BEHAVIOUR IS NOW COMING FROM THE GOVS OWN LITERATURE. WITH THE BANKERS STEALING TRILLIONS IN PAPER MONEY AND BUYING ALL THE GOLD AND SILVER NOW IS THE TIME TO GET REAL AND GET GOLD AND SILVER
Gold & Silver bullion are the great equalizers in a world of financial turmoil since biblical times. Save yourself and your family from inflation.
[...] Original post: US Mint Suspends Production of More Gold and Silver Coins | Gold … [...]
Is it me, or does it seem like the government is taking the dollar for a ride as long as it can because it knows that the trouble with our dollar is unreversable. Just think about somebody who knows they will undoubtably be declaring bankruptcy, they go on a spending spree untill it ends everything is maxed out and used up.
Can you say manipulation! It is easy to see what is going on here!!
The US is becoming the “thief nation” as it spends up what is left of its’ credit ability and credibility, whilst knowingly being unable to ever repay its’ obligations to creditor nations. There are two possibilities, out right foreign debt default or an attempt to inflate away the debt through massive inflation. Either prospect bodes well for silver and gold, and very badly for fiat currencies and particularly badly for the ordinary honest US citizen who does not own them.
Just get China to mint the coins, they will have them here next week. Don’t expect the USA to continue doing this type of work. We have lost our edge. We don’t know how to produce anymore. 17th in Math & Science. We are still good in greed, and wrecking the what used to be the world’s greatest ecomomy.
2006w american eagle uncirculated 1/2 ounce fractional gold coin worth $1,200.00 and 1/4 ounce worth $700.00?
2008w american eagle uncirculated 1/4 ounce fractional gold coin worth $1,000.00?. mintage at 9,200 pieces. the lowest of all american eagle gold series.
well, no more production by the u,s, mint. that is my price.
FORGET ABOUT GOLD AND SILVER…booze, cigs, ammunition, antibiotics, seeds and canning supplies will be the new slice of gold if the US economy collapses…I never ate a gold coin…never will.
There is too much paranoia,it makes me paranoid.
Take it easy Draco. Hold your Silver and Gold, be patient, and watch the worldwide fiat foolishness unravel.
I agree with Tim, these will be highly sought after when the fecal matter hits the occilation device, however there is much to be said for having to move your wealth at a moments notice, or i suppose you can decide to make your final stand instead, boozed up, smoke in hand, finger on the trigger……. that does,nt sound so bad either……
Not that it seems to matter anymore, but isn’t suspending production illegal?
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Hi; My name is Al; I’m from the Government and I’m here to help you.
I’m taking a survey and I just need everyone with Gold and Silver to print their name and address on this list and also how many ounces of each of these afore mentioned coins you have in your position.
Everyone who cooperates will be have the gratitude of all the others. So please give generously.
Once your name has been included on the list, place your coins on the curb in front of your house for prompt pickup by a qualified agent.
Ha ha ha….had you going didn’t I. ; )
Gold is a great safe haven investment and the ultimate currency. However if you really want to make some serious profit in the next couple of years, buy silver! Buy all you can get your hands on! silver is dirt cheap right now with the gold/silver ratio of 75:1 it has virtualy no downside. 2010 will see a flood of fiat paper chasing a small amount of silver. As gold prices skyrocket the average Joe will be priced out of the market and will turn to silver, this will cause further price escalation.
There has never been an opportunity to make such a profit from one single investment.
Silver… Gold… Beans… Bullets… Band-aids…
How to prepare while also educating others?
Teaching… Sharing… Co-oping… Giving… Learning… Bartering… Trading…
Metaphysical natural resources
federal devils will outlaw gold sooner or later.FDR already did it in the 30’s.it was illegal to own gold till 1975.
first they will manufacture a crisis-’gold is a main tool of a drug trade!’ then paid demonstrators will demand ‘government shall do something about it !’ and so on-as usual.
‘USA Today’ will print another stupid diagram ‘96% of Americans think that drugs are connected with gold’ and the law will make anyone with a gold coin a drug dealer suspect.
Is it not obvious what is happening here? Gold is a store of value, while the US dollar is being regarded as a loss of value. Holding US dollar is extremely risky, but the last thing the government needs to do is let the American tax payers save their money in gold and keep it out of circulation. They need us to spend spend spend. So they figure that the best way to encourage circulation is to remove the store of value (aka gold). Somebody thought this was a good idea. The only thing good about this is that other gold-producing nations get to reap the benefits of hungry American investors seeking for shortage of gold. All of a sudden, the Canadian Maple Leaf will see a rise in sales. Sure, let’s support the Canadians. Why not???