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- - Gold and Silver Eagle Bullion Allocation Programs End (http://goldismoney.info/forums/showthread.php?t=383823)

phideaux | 06-16-2009 11:25 PM
Gold and Silver Eagle Bullion Allocation Programs End Tuesday, June 16, 2009 Gold and Silver Eagle Bullion Allocation Programs End Posted by: Michael | Posted in: Gold Eagles , Silver Eagles Yesterday, the US Mint announced the end of the long standing allocation programs for Gold and Silver American Eagle bullion coins. This should have implications for coin collectors who have been eagerly awaiting the collectible proof and uncirculated versions of the coins. The news comes via a brief memorandum sent to authorized purchasers of US Mint bullion coins, which stated, "Effective immediately, the United States is lifting the allocation process. You may place your orders under the standard ordering procedures." Gold and Silver Eagle Bullion Coin Shortage and Rationing http://1.bp.blogspot.com/_dkzFU5Omdl...Gold-Eagle.jpgThe US Mint sells gold and silver bullion coins through a network of authorized purchasers. Last year, heavy demand and a tight supply of precious metals blanks had forced the US Mint to temporarily suspend sales of bullion coins and eventually instate allocation programs. These programs limited the number of gold and silver bullion coins that authorized purchasers could order. The US Mint would divide weekly bullion coin production into two pools. The first pool would be divided equally amongst authorized purchasers, and the second would be divided based on past sales performance. The silver allocation program had been in place since April 2008, and the gold allocation program had been in place since August 2008. In recent months there had been signs that the heavy demand and tight supply, which necessitated the allocation programs, were easing. After reaching extreme levels during the shortage, premiums for bullion coins charged by precious metals dealers were finally dropping. At the height of the Silver Eagle shortage, bullion coins carried premiums as high as $4.50 per coin. Since last month, these premiums have declined back to their historical norms around $2.00 per coin. Another sign had been a recent decline in monthly sales levels for the US Mint's gold and silver bullion coins. For 2009, sales had recorded month to month increases before peaking and finally declining. Sales of Silver Eagle bullion coins had risen to a peak of 3,132,000 ounces in March, before receding in April, and falling further in May to 1,904,500 ounces. Sales of Gold Eagle bullion coins had reached a peak of 147,500 ounces in April, before dropping to 65,000 in May. Notably, even the reduced sales figures from last month remain far above year over year and historical sales comparisons. Gold and Silver Eagle Collector Coins on the Horizon? http://3.bp.blogspot.com/_dkzFU5Omdl...lver-Eagle.jpgThe end of the allocation program should be welcome news for coin collectors. Because of the high demand for gold and silver bullion coins, the US Mint had suspended production of the collector versions of the coins. By law, the US Mint is required to provide bullion coins "in quantities sufficient to meet public demand." Because they were unable to meet full demand, they had been diverting their entire supply of blanks to the production of bullion coins in lieu of producing any collector coins. At the time of this post, there still has not been any indication of when production of collector coins will begin, and when the coins will eventually go on sale for collectors. However, recent developments suggest that a window of opportunity has opened for the US Mint to produce the collector coins. The end of the allocation program can be interpreted to mean that the US Mint is reasonably confident that their supply of incoming precious metals blanks is sufficient to satisfy full bullion coin demand with a reasonable cushion. Presumably, some of these extra blanks can now be used to produce collector coins. The collector versions of American Gold and Silver Eagles expected to be produced this year are the following: 2009 American Gold Eagle One Ounce Proof 2009 American Gold Eagle One-Half Ounce Proof 2009 American Gold Eagle One-Quarter Ounce Proof 2009 American Gold Eagle One-Tenth Ounce Proof 2009 American Gold Eagle Proof Four Coin Set 2009 American Gold Eagle One Ounce Uncirculated 2009 American Silver Eagle One Ounce Proof 2009 American Silver Eagle One Ounce Uncirculated Note that this product line up is slightly reduced from last year. The fractional versions of the 2009-W Uncirculated Gold Eagles were previously announced as discontinued. Even though the collector versions of Gold and Silver Eagles are now closer to becoming reality, there still has not been any additional news on the American Platinum Eagle coins and American Buffalo Gold Coins. For 2009 to date, the US Mint has not produced or sold any bullion or collector coins from these two programs. http://mintnewsblog.blogspot.com/200...e-bullion.html

hernancortes | 06-17-2009 08:32 AM
Re: Gold and Silver Eagle Bullion Allocation Programs End Quote:
Originally Posted by phideaux (Post 1773549) Another sign had been a recent decline in monthly sales levels for the US Mint's gold and silver bullion coins. For 2009, sales had recorded month to month increases before peaking and finally declining. Sales of Silver Eagle bullion coins had risen to a peak of 3,132,000 ounces in March, before receding in April, and falling further in May to 1,904,500 ounces. Sales of Gold Eagle bullion coins had reached a peak of 147,500 ounces in April, before dropping to 65,000 in May. Notably, even the reduced sales figures from last month remain far above year over year and historical sales comparisons....... Even though the collector versions of Gold and Silver Eagles are now closer to becoming reality, there still has not been any additional news on the American Platinum Eagle coins and American Buffalo Gold Coins. For 2009 to date, the US Mint has not produced or sold any bullion or collector coins from these two programs. http://mintnewsblog.blogspot.com/200...e-bullion.html
I note that June Au and Ag Eagle sales are on pace to break May's though. I'm guessing that buying is particularly strong during this dip. No platinum at all, and no indication of platinum coming. What gives? End of the series?

AgAuGal | 06-17-2009 08:53 AM
Re: Gold and Silver Eagle Bullion Allocation Programs End still no uncirculated fractionals, but other than all is normal:confused_ma::no_ma: maybe this is reverse psych strategy - tell them availability is ok so maybe demand will drop ....??

Twisted Avatar | 06-17-2009 09:40 AM
Re: Gold and Silver Eagle Bullion Allocation Programs End Quote:
Originally Posted by AgAuGal (Post 1773939) still no uncirculated fractionals, but other than all is normal:confused_ma::no_ma: maybe this is reverse psych strategy - tell them availability is ok so maybe demand will drop ....??
The fear is palpatable now....... there will be no such drop off with Obama exploding the money supply with failed program after failed program. That being said People may be reaching the point where they dont have the funds to buy like they use to because they're seeing it nessecarry to horde cash. That might be why the "death grip" is easing. If I had to take a guess. T

HistoryStudent | 06-17-2009 09:47 AM
Re: Gold and Silver Eagle Bullion Allocation Programs End Sometimes it is better to step back, take a deep breath, and smell the flowers while listening to the birds. Years ago (over 40) I worked with a very conservative judge who would tell the sorry deadbeats quote, "I would rather see a little than hear a lot." Sadly, I consider the Teasury/Mint/Fed a bunch of modern day deadbeats. They do say things but never show the "little gold" they have. They did have custody and control (jointly) of the so-called 281 million ounces of America's (long gone?) gold. IMVHO - I doubt they have 30% left. So hear we are more than half-way through 2009 and still all they sell is bullion gold coins to dealers, a few 1/2 ounce terrible losss leader presidentials, and a rationed off UHR which is a one-year wonder - probably. What happened to their DUTY (yeah, like they really care about their mission?) and mission and honor to the American people in this new socialist- leaderless society? They still have not sold: PROOF Buffallo's 4 PROOF Gold Eagles 4 PROOF Silver Eagle 1 PROOF Platinum Eagles 4 MS Buffalo's 4 MS Gold Eagles 4 MS Platinum Eagles 4 So they do sell a few 1/2 losers, a MS Silver Eagle (three times the silver price), and a rationed UHR 2009 one-ounce beautiful coin. So what? "I'd rather see a little, than hear a lot." SHOW ME THE REAL MONEY! HS ranting. :signs14::yes: PS like the post above - most are tapped out and will not be able to afford the coins ESPECIALLY after the next rise. Imagine gold at say - $1500 - who could afford to spend $2000 to $3000 a coin?

hernancortes | 06-17-2009 10:21 AM
Re: Gold and Silver Eagle Bullion Allocation Programs End No. I've changed my mind on the 1/2 oz. spouses. There are/will be many sleepers among them, some with great potential. Again, the OP is going by 2-week old data... sales of Eagles have picked back up in June... on pace to sell 100,000 Au and 2.5 million Ag this month.

HistoryStudent | 06-17-2009 11:05 AM
Re: Gold and Silver Eagle Bullion Allocation Programs End Numismatics have a chance at a 50 times rise. CHANCE. And the 1/2s presidentials; like you say, may really gain on low sales to begin with so far. The bullion is keeping the mint busy - they still are not doing their mission to supply numismatics - which THEY started in 1790 ish - period. :23_30_104::23_30_104::23_30_104::signs14:

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