Sunday, October 12, 2008

Mint Widens Freeze on Gold Coin Sales

The U.S. Mint said in a recent memorandum to authorized purchasers:

"Due to extreme fluctuating market conditions for 2008, as well as current market conditions, gold and silver demand is unprecedented and the demand for platinum is unusually high."

Moming Zhou of CBS Marketwatch states: "The Mint added that it's halting the sales of several gold and platinum coins while putting a few other coins under allocation sales. The move, announced on late Monday, follows as a halt on sales of two other coins in September and August."

You can read the full CBS Marketwatch article here. I guess i'm a little late to the coin buying party. Recently, my concerns over the potential dilution of our currency have been growing and I only recently bought into the Gold (GLD) and Silver (SLV) ETFs. I also started looking at and am considering opening up an account with them or simply buying Platinum, Gold and Silver coins locally.

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