Posted on 11/18/2008 5:05:32 PM PST by LegendHasIt
THERE'S a worldwide run on gold coins.
Even as the price of the precious metal itself comes under pressure along with commodities like oil and copper, people around the world are demanding so many of the valuable coins that government mints are having difficulty filling orders.
A spokesperson for the US Mint tells me that gold coins in this country, for the past month, "are being allocated because of an increased demand."
And the price that the government charges coin dealers has recently been increased by as much as 10 percent for a 10-ounce coin.
Robert Mish, a coin dealer in Menlo Park, Calif., says customers who want to purchase 200 gold coins often have to wait up to two weeks. Six months ago, he said, a purchase that size could have been filled immediately.
(Excerpt) Read more at nypost.com ...
And I happen to think that....gold stocks are near a bottom.
I could be wrong.
“Sorry, I should have pinged you in my reply. Pardon me for violating the FR code of behavior.”
No problem at all. And you are pardoned. :)
because the big boys are selling their bulk gold (not the USA though) and that is deflating the price of gold. Think hedge funds, think countries. (then again it is what glen beck said)
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