U.S. Mint: Bullion Coin Demand Still At “Unprecedented” Levels

June 5th, 2013 by

american-gold-eagles

In another sign of continued physical demand despite the abandonment of gold by paper traders, Richard Peterson, acting director of the U.S. Mint, today remarked that public demand for U.S. bullion coins remains “unprecedented,” almost two months after the crash in precious metals sparked a worldwide shortage of gold and silver.

“Demand right now is unprecedented. We are buying all the coin (blanks) they can make,” he said in an interview referring to the Mint’s suppliers. The U.S. Mint has begun sourcing additional suppliers for gold and silver planchets (blanks) since the spikes in demand in January and April of this year. Unanticipated demand led to sales stoppages of some bullion coins due to depletion of planchets on hand.

Peterson also noted that recent dealer inquiries have led the Mint to consider resuming production of the American Platinum Eagle bullion coin, which was discontinued in 2008 due to poor sales. The U.S. Mint still makes a proof American Platinum Eagle for collectors that carries a numismatic premium.