For those of you who have bought and read my book will have a hard time following some of my advice regarding acquiring gold coins. Apparently the US Mint has run out of them. It seems that during times of economic uncertainty, they have enough gold to meet demand. Well I suppose that’s the government for ya. Can you really imagine anyone in the private sector going, “Hey, demand for our product has been going through the roof in recent months. I guess we’ll need to pull it off the market!”
Well fear not dear reader. There is still gold out there to be had. You’ll just need to buy foreign coins such as the South African Krugerrand. It’s available at a lower cost over spot anyway, so it’s a good deal. Unfortunately, you don’t get all the tax benefits that the American gold coins carry (also talked about in my book), but it’ll do in a pinch. Besides, if the government collapses, a one ounce gold coin is a one ounce gold coin and no one’s going to worry about the tax ramifications.
The one thing I find curious though, is that physical demand for gold seems to be at an all time high, yet the actual per ounce price of gold had been well below it’s all time high set back in March. What gives? Some of my more conspiratorial friends believe that the government and central bankers are playing a hand in depressing gold prices so that investors will not see them as attractive investments during times of economic uncertainty. Their logic then suggests that the prices has been depressed too far for the US Mint to actually make a profit on the coinage, and so they stopped producing the coins. It’s an interesting theory and it does explain a few things, but I’m not so sure that’s the real story.
One thing is for sure though, gold coins are going to become increasingly scarce as this crisis wears on. Get yours now!
2 thoughts on “US Mint now out of gold coins”
Suggest argue, because only in a dispute born truth.
Well done! Unlike the author of the topic 😉