2009 Gold and Silver Proof Eagles Suspended

October 19, 2009 · Posted in Gold Bullion News · Comment 

If you are an informed coin collector or bullion investor then you may already know that just a short time ago, the United States Mint released an official press statement with a bit of news that was both surprising and upsetting to many. The 2009 Uncirculated and Proof Gold and Eagles will not be put into production again for the rest of this year. As a tiny consolation, the press release did announce plans to tender the 2009 Proof Gold Buffalo, Proof Platinum Eagle, and fractional weight versions of their popular Gold and Silver Eagle coins. The cause that was blamed for the disregarded products will be familiar to those that are avid coin enthusiasts, as the Mint says that there has been an extraordinary demand for gold, silver and platinum bullion products this past year. This rationale has been referred to on various instances through the last couple of years, to give a variety of reasons for the rationing of these collectible silver and gold and collectible coins.

By law, the U.S. Mint is obligated to deliver Silver and Gold Eagle coins in numbers adequate to reach the demand of collectors and bullion investors. In view of that, the Mint has been utilizing all of their bullion coin blanks to turn out gold and silver coins, as a replacement for collector coins as they are not necessarily required to mint these coins.

The standing of this year's collectible Gold, Platinum and Silver Eagles, in addition to their popular Gold Buffalo Coins releases has been a topic of almost continuous talk and conjecture. Earlier in the year many experts had begun to talk about the prospect that these coins might not be released this year at all. The reasoning was confirmed just a couple of months later on, as the Mint finally announced that the items were temporarily suspended. By the middle of the summer there was a momentary revival of hope for the collector coins once the Government had at last put an end to the allocation of silver and gold proof and uncirculated eagles, but it seems that the outcome has not gone the way that many of us who collect would have liked.

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American Gold Eagles Rise As Investor Demand Grows

September 12, 2009 · Posted in Gold Bullion News · Comment 

Gold climbed above $1,000 on Friday as investors have grown increasingly interested in gold bullion coins and gold mining stocks as an investment alternative to falling traditional stocks and an unstable real estate market, especially since this time last year. The price of the precious metal has nearly doubled in the past four years as investors seek to hedge their portfolios against inflation and other possible downturns in the usual longtime standards, mainly stocks and bonds.

As Federal regulations state that the raw gold used in American Gold Eagle Coins must be mined here in the United States, very few  gold refineries qualify in meeting the standards required to officially produce the blanks needed for the coin minting process. These stringent regulations created a shortage of gold uncirculated and proof coins this past summer, fueling investor demand for gold bullion products even more this year.

The United States Mint has already sold over 750,000 American Gold Eagles so far this year, outpacing last years total numbers for the entire year. As final numbers begin to filter in at the start of 2010, sales of gold bullion coins should approach all-time record numbers, and with interest in gold bullion showing no signs of slowing down currently, many experts predict that next year will be an equally strong year in relation to physical gold as an investment option.

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