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U.S. Mint Suspends Sale of One-Tenth (1/10) Oz. Gold Bullion Coins

May 9, 2013 - The U.S. Mint announced recently that it would no longer offer one-tenth (1/10) of an ounce gold bullion coins after lower prices and surging demand depleted its inventory. Gold dropped dramatically in mid-April and the spot price decrease of about $200 sparked a buying frenzy in the physical gold market, especially in the United States.

The Mint’s official statement to authorized purchasers said the following:

“While the one ounce gold bullion coins remain the most popular, demand for the one-tenth ounce coins has remained strong too, with year-to-date demand for these coins up over 118% compared to the same period last year. Accordingly, the United States Mint has temporarily suspended sales of its one-tenth ounce gold bullion coins while inventories can be replenished. Once the United States Mint can strike enough one-tenth ounce gold bullion coins to satisfy anticipated marketplace demand, the coins will be put back on sale.”

American Eagle gold bullion coins will still be available in three sizes: one ounce, one-half (1/2) ounce and one-quarter (1/4) ounce. The sum of all gold bullion coins sold by the U.S. Mint this year is more than double the total from the same date in 2012. The one ounce version of the Eagles is by far the most popular, both by weight and by total sales volume. The U.S. Mint has also suspended sales of the silver Eagle Proof coin, and U.S. Mint directors have not yet released an expected timeline for the return of either coin.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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