Systemically important: the USA continue to produce Eagle gold coins

Gold coins for investment

The American Mint U.S. Mint informed its customers on Wednesday evening that the production of numismatic gold coins and other collectible products will be temporarily suspended. The background is official requirements in the course of the corona crisis. The U.S. Mint is a federal agency. However, it is emphasized that the production of circulation coins as well as silver and gold coins for investment will continue. Reference is made to the legal mandate.

 

Gold Bullion Coin Act

According to the “Gold Bullion Coin Act” passed in 1985 under the then U.S. President Ronald Reagan, the U.S. Mint is committed to minting Eagle gold coins in sufficient numbers to adequately serve public demand. According to the statute, the gold is said to come from American mines. If this is not enough, the American gold reserves should be accessed. The basic appearance (eagle, liberty statue) and the denomination (1 ounce, 1/2 ounce, 1/4 ounce, 1/10 ounce) were also specified. The Gold Eagles are also the official form of payment in the United States.

 

Eagle gold coins are booming

According to the information on the U.S. website Mint has already sold 45,500 American Eagle gold coins at one ounce each in April. In the previous month, the sales volume had literally exploded to 151,500 ounces: American Eagle gold coins: sales increased twentyfold in March! The reported amount was subsequently adjusted upwards again by 9,500 ounces.