U.S. Mint Out of Eagles and Buffalos

The U.S. Mint Sells Out of Silver Eagles, Gold Buffalos (Again)

Bullion.Directory precious metals analysis 10 September, 2018
By Clint Siegner
Director of Money Metals Exchange

The lower metals prices are, predictably, driving increased demand for physical bullion from U.S. retail investors. Bargain hunters, who had less reason to buy during the first half of the year, have come out in force over the past two months.

Perpetually plagued by shoddy production planning, the U.S. Mint announced last week the government agency is temporarily sold out of silver American Eagles and gold Buffaloes. Premiums for those coins moved higher almost immediately, especially on Silver Eagles.

The government-run “enterprise” typically operates with little room for error and does not maintain a large supply of unstruck planchets.

This means it can’t handle moderate to large fluctuations in demand. It’s not unusual for the U.S. Mint to fail in its statutory mandate to produce sufficient coins to meet public demand.

There is some pressure building on premiums for other sovereign coins, rounds, and bars. Those inclined to buy metals in this price range should consider moving quickly.

This article was originally published here

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