Showing that the management of the US Mint does not understand how to manage a specialized manufacturing facility, it was reported that the Mint is not going to try to maintain the supply to meet the demand for precious metals. In a letter to authorized dealers, the Mint blames the fluctuating market and high demand for this decision.
For the rest of the year, the Mint will continue to strike gold and platinum coins until supplies of blanks are depleted. The supply of 24-karat Gold Buffaloes have been depleted. Silver and one-ounce gold American Eagles will continue to be available as they can be struck.
Those wanting to purchase gold may want to consider previous years or Canada Gold Maple Leafs. It is being reported that the Royal Canadian Mint continues to strike gold but has been having problems keeping up with the demand. Alex Reeves, a spokesperson with the Royal Canadian Mint, said, “[Distributors] would like more gold than we can produce but we’re supplying the best we can. Look at that as good news. We’re able to keep producing gold while the U.S. Mint has to throw up their hands and say, ‘we’re out.’ ”
Fasten your seat belts, it’s going to be a bumpy ride!