US Mint stops selling Gold coins

After having suspended, then rationed the selling of Silver coins in May 2008, the US Mint is now stopping (temporarily, it seems) the sale of Gold coins.

The government rationed food during World War II and gasoline in the 1970s. Now, it's imposing quotas on another precious commodity: 2008 dollar coins known as silver eagles.

The coins, each containing about an ounce of silver, have become so popular among investors seeking alternatives to stocks and real estate that the U.S. Mint can't make them fast enough. In March, the mint stopped taking orders for the bullion coins. Late last month, it began limiting how many coins its 13 authorized buyers world-wide are allowed to purchase.

This news is actually one week old, as reported here from GATA.org. Reuters is reporting it only now it seems:

"Due to the unprecedented demand for American Eagle gold one-ounce bullion coins, our inventories have been depleted. We are therefore temporarily suspending all sales of these coins," the U.S. Mint told authorized coin dealers in a memorandum dated on Friday.

The interesting thing is that the decline in the price of Gold create a huge demand for the physical. Why would the Mint stop selling the coins? Maybe because they know that's to good deal for their customers and a bad one form them? And would like to hold until the gold prices recover? In any way, this just sounds like market manipulation from the US Mint to me.

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