The stock market is going nuts and it seems everybody wants more gold coins as a hedge against a possible coming depression. Supply of other precious metals are also running thin, but gold is where the attention is mostly focused. The precious metals dealer in Montreal, Canada that usually does a brisk business selling gold and silver coins, Kitco Inc., has stopped selling coins from the U.S. Mint and the Royal Canadian Mint until further notice.
We understand the U.S. Mint is halting production of their very popular American Eagle gold coins, at least for the remainder of 2008, while in Canada, the Royal Canadian Mint is churning out gold maple leaf coins as fast as they are able, but demand is high while supply is lagging behind.
It was not too long ago that the sale of American Buffalo one-ounce gold bullion coins was suspended temporarily by the U.S. Mint because they had run out of inventory.
Of course, all this pushes would-be gold buyers from the primary to the secondary gold coin market. We firmly believe the price of gold is going to continue upward, at least for the short term, and owning some gold coins is a good hedge, as long as you don’t go overboard. Here is a link you can follow to shop online for gold coins, a source where some bargains are sometimes available to sharp consumers.
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