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US Mint Halts Gold and Platinum American Eagle Production

10/08/2008 04:26:00 PM, Posted by APMEX, 6 Comments

The United States Mint recently released a memo to authorized dealers outlining how they will deal with the unprecedented demand for gold and silver bullion coins.

According to the memo, ALL ½ oz and ¼ oz Gold Eagles have been suspended through the remainder of the year. Platinum Eagles, Gold Buffaloes and 1/10 oz Gold Eagles will be produced until the Mint exhausts its supply of blanks, at which time all of these coins will be suspended as well.

The US Mint will focus instead on producing 1 oz Gold American Eagles and 1 oz Silver American Eagles to help satisfy the intense demand for these popular bullion coins.

The US Mint memo reads:

October 6, 2008

MEMORANDUM TO ALL AMERICAN EAGLE AND AMERICAN BUFFALO AUTHORIZED PURCHASERS

SUBJECT: 2008-Dated Bullion Products

Due to the extreme fluctuating market conditions for 2008, as well as
current market conditions, gold and silver demand is unprecedented and the demand for platinum is unusually high.

The United States Mint has worked diligently to attempt to meet demand, however, blank supplies are very limited and it is necessary for the United States Mint to focus remaining bullion production primarily on American Eagle Gold One Ounce and Silver One Ounce Coins.For the remainder of 2008 bullion inventory, the following will apply:

American Eagle Gold Bullion Coins

One Ounce Coins will remain on allocation each week. Allocation amounts are based on available quality blanks each week.One Half Ounce Coins: Inventory was depleted last week. No more coins will be produced for 2008.

One Quarter Ounce Coins: Inventory was depleted last week. No more coins will be produced for 2008.

One Tenth Ounce Coins: Inventory was depleted last week. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.

American Buffalo One Ounce Bullion Coins

Inventory was depleted and sales were suspended in late September. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.

American Eagle Silver One Ounce Bullion Coins

American Eagle Silver One Ounce Coins will remain on allocation each week. Allocation amounts are based on available quality blanks each week.

American Eagle Platinum Bullion Coins

All denominations were depleted last week. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.We will keep you updated as more information becomes available.


This cessation of fractional Gold American Eagle coins means these coins may be tough to find. The limited production of these gold coins could make them a sought after collectable in future years. As a result, it is possible that the numismatic value of fractional 2008 Gold Eagles may increase--a pattern that has been observed repeatedly throughout history.

Get these rare coins now while they are still available! APMEX may not be able to get anymore – however, we will post them online when and if we do get additional stock. Take advantage of this great opportunity before they are gone.

http://www.apmex.com/Category/504/Gold_American_Eagles_2008__Prior.aspx

6 Comments

Nof @ October 9, 2008 at 7:46 AM

Yet the price of Gold and silver remains flat to low?? Everybody is out? What is going on here?

Anonymous @ October 9, 2008 at 9:37 AM

market manipulation

Anonymous @ October 9, 2008 at 1:18 PM

Call it what you will. however, the US dollars is worhless as is their word. The economy will colapse as have our leaders.

its a free for all folks!

Mint News Blog @ October 9, 2008 at 1:40 PM

The fractional 2008 "W" mint marked Gold Eagles will end up with even lower mintages. These are definitely worth check out while they are still available.

DMD @ October 9, 2008 at 4:01 PM

nof: that's primarily the price of "paper gold." If disconnect starts to develop between what e.g., ETFs are priced and how much it costs to get real gold into a real fist, who knows what would happen?

coin collector @ October 10, 2008 at 5:07 AM

How about loading up on rare and old gold and silver coins? pre-1936 MS?
Are they a waste of money? Should I be only buying bullion at this point in the crisis? Mmmm

coin collector