US gold bullion coins continue to be hot. So hot that two sell-outs occurred today with two more likely on the way within days, if not hours.
According to the US Mint, the inventory for the 2009 American Gold Buffalo Bullion Coins has been depleted and no more will be struck for the year.
"The United States Mint has depleted its inventory of 2009 American Buffalo One Ounce Gold Bullion Coins," stated U.S. Mint Director of Public Affairs Tom Jurkowsky. "No additional inventory will be made available."
The 2009 Buffalos were only made available to the public on October 15th, but still managed to sell more than were sold during each of the previous two years. Mint sales figures show that 198,000 of the 2009 Buffalos were sold compared to only 167,500 for 2007 and 172,000 for 2008.
Also under enormous demand are the newly released fractional 2009 American Gold Eagle Bullion Coins.
"Due to the strong demand for these products, the American Eagle Gold Tenth-Ounce Coin inventory was depleted," explains Jurkowsky. "The inventory for the half-ounce and quarter-ounce coins remains very limited."
The fractionals were only added to the Mint's store on Thursday. On the first day, 260,000 of the 1/10 ounce coins were spoken for which is phenomenal when compared to the 270,000 that were sold throughout all of 2008. The remaining half-ounce and quarter-ounce coins have been placed in the Mint's standard allocation program to insure the fairest distribution.
According to the Mint, additional fractional Eagles will be struck using in house supplies of blanks and they will be made available in mid-December along with a return of the one-ounce Eagles which were suspended last month, also due to enormous demand. The standard allocation program will be used for these as well.
The Mint does not sell bullion coins directly to the public, but to a network of Authorized Purchasers for a small amount over the current spot price of gold. These purchasers then resell them to coin dealers, precious metal providers, or to the public directly.
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