Posted on 06/02/2010 1:31:15 PM PDT by blam
Gold Coins Flying Off US Mint Shelves Show Highest Sales In 11 Years
By Rocky Vega
06/02/10 Stockholm, Sweden – Demand for gold has again cleaned out the US Mint, even with the physical metal at record nominal price levels over $1,200 an ounce.
In May, the Mint managed to ship out 190,000 one-ounce gold American Eagles. The sales number breaks a record for any single month going back 11 years to 1999.
According to Reuters:
“In January 1999, the U.S. mint sold 208,500 gold 1-ounce coins, with only five other months exceeding May’s gold coin sales since the program was launched in 1986, the Mint’s spokesman told Reuters.
“While in 2010 the U.S. Mint has sold only 1-ounce gold coins, in past years it has sold other coin sizes as well. Comparing only American Eagle gold 1-ounce coins, the biggest monthly sale occurred in October 1986 with 609,500 coins sold, the Mint said.
“Many investors, both retail and institutional, have sought gold as a safe-haven asset in times of economic uncertainty. Sales of the American Eagle coins increased by 214 percent in the month over April during a time when concerns about sovereign debt in the euro zone raised fears of a larger macro-economic effect.”
Still, if you decide to visit the US Mint’s online store today for a little dollar-hedge shopping you’ll be sorely disappointed. Currently, there’s one of these all too frequently occurring notes:
“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.”
The note also suggests that sales will resume “once sufficient inventories of gold bullion blanks can be acquired.” We’ll see how long that takes.
You can read more details in Reuters coverage of how the US Mint’s gold coin sales have reached its highest level since 1999.
Would platinum coins be a good substitute?
Silver. It stays close to gold, but due to the manufacturing uses, it does have some value in “good” times as well.
But, you have to buy more of it and storage becomes a pain.
I’d rather invest in ammo and heirloom seeds.
With preppers announcing to the world they have stocked food, next they’ll be proudly showing off their gold and silver on the local evening news.
http://www.freerepublic.com/focus/f-news/2525818/posts
If the government knows you have gold it will help you in emergencies
Of course. The Fed has to flood the market with gold in order to hide inflation.
Ya can’t eat gold.
The problem is that someone else ends up with it and we don’t.....
Gold is a currency.
Care to explain that?
“Ya can’t eat gold.”
I tried to eat a dollar bill the other day. It was a little dry.
Lead, Brass, Saltpeter, Sulfur, and Charcoal are all very wise einvestments, especially taken together.
you bought ‘em all didn’t ya? ; )
“Ya can’t eat gold. “
But you can make others eat Lead, especially if they are hungry “zombies” from the cities looking for a quick meal in the country after society collapses.
“Ya can’t eat gold.”
You just don’t get the whole survival thing do you? You place the coin out on the street where someone can see it. When they stop to pick it up you nail them in the head, drag them off and eat them. Cooking is optional depending on how hungry you are.
ROTFLMBO!
One coin should last a long time.
Some gold and some silver :)
just picked up some silver.
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