Surging Demand Forces U.S. Mint to Suspend Some Gold Sales

by Jerry Robinson, FTMDaily.com Editor-in-Chief

(FTMDaily.com) For the first time since 2009, the U.S. Mint has suspended sales of its 1/10-ounce American Eagle gold bullion coins after soaring demand outpaces the government’s gold supply.

Demand for gold (and silver) have been swelling in the wake of a major recent price collapse. So far in 2013, sales of 1/10-ounce coins are up 118%

So far in the month of April, the U.S. Mint has sold 175,000 ounces of American Eagle gold coins. Based upon current demand, gold sales at the Mint could break a new record this month. The current sales record occurred back in December 2009 when the Mint sold an astounding 231,500 ounces.

Veteran precious metals dealer, Tom Cloud, says that recent demand for both gold and silver has been at the highest levels in recent memory, as smart investors continue to buy precious metals after the recent sell-off.

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