Wall Street Journal Claims U.S. Mint Has Stopped Selling American Eagle Gold Coins

[link to cryptogon.com]
Hmm. That’s interesting, because, as of right now, the U.S. Mint is still selling them online (with a hefty premium built in).

There’s always a supply of gold coins for sale on eBay. If you want 1oz American Eagles, go to eBay and search for american eagle gold $50. It will be interesting to see if that supply dries up.

Anyway, here’s the full text of the WSJ piece.

Via: Wall Street Journal:

The Eagle Has Been Grounded
Mint Halts Gold-Coin Sales
After Supply Depleted Amid Price Drop

By IANTHE JEANNE DUGAN
August 21, 2008; Page C1

As gold prices tumbled from their highest level ever, investors and collectors loaded up on one-ounce “American eagle” gold-bullion coins. The buying spree came to an abrupt halt this week after the U.S. Mint stopped selling the coins for the first time since production began 20 years ago.

“Due to the unprecedented demand…our inventories have been depleted,” the Mint — part of the U.S. Treasury Department — told its dealers Friday. “We are therefore temporarily suspending all sales of these coins.”

The move shocked sellers and collectors of the coins, which are the most widely traded in the U.S. Suppliers became angry as they turned away customers. Theories about the decision’s underlying cause ran rampant — from investors in gold futures to Russia’s invasion of Georgia.

Last Edited by Phennommennonn on 09/19/2011 05:36 PM