Precious Metals Investors Face Delay
For nearly two years the increased demand for physical precious metals investment has left the United States Mint behind the curve in satisfying investor demand. This situation became appearent in 2008, when sales of the popular one ounce silver coins were suspended and then resumed on a rationed basis. A similar suspension and rationing took place for one ounce gold coins later in the year.
The allocation programs continued into 2009, for the first half of the year. The coins were available in unrestricted quantities for several months, suggesting the problem was abating. However, in November another round of suspensions swept through bullion products and the allocation program was resumed.
For next year, the release of the 2010 Silver Eagle has been delayed into mid-January instead of the typical delivery for the new year. The status of the 2010 Gold Eagle has also been delayed. The US Mint is continuing to offer the 2009 dated coins until inventories are depleted. How will the delayed launch of 2010 bullion coins impact demand? In the recent past, when gold or silver coins have been limited or rationed, it has only created even more demand.