U.S. Mint Struggling To Meet Demand for Gold and Silver Coins

05 Feb

U.S. Mint Struggling To Meet Demand for Gold and Silver Coins

Republic Monetary Exchange “Best Practices” Mean Immediate Delivery!

A Reuters news story sums it all up this way: “The United States Mint said on Tuesday (2/2/21) it was unable to meet surging demand for its gold and silver bullion coins in 2020 and through January, due partly to pandemic-driven demand and plant capacity issues.”

us mint coins

As the US government’s spending plans go unchecked and as the Federal Reserve continues to pump unbacked money into the economy at a frenzied pace, more Americans are seeking the protection gold and silver offer.  Last year sales of US gold bullion coins rose an astonishing 258 percent.  US silver bullion coin sales climbed 28 percent in 2020.

The blistering pace continues in 2021.  In January, American G0ld Eagle sales were 290 percent higher than the same month a year earlier.  

Heavy buying – what the Mint calls “continued exceptional market demand” – is only one part of the Mint’s difficulty.  Covid-19 restrictions have impeded supply chains as well.  

US Mint

The Mint is also redesigning US bullion coins for release this summer.  Its intent to have supplies of the new coins for the launch will also impinge on the production of bullion coins between now and then.

Shortages of physical silver products, coins and bullion, are a replay of the shortages that occurred last year with the COVID-19 shutdown.  Once again, many dealers find themselves without supplies to deliver to their clients.  

Just as Republic Monetary Exchange distinguished itself last year by continuing to make immediate delivery while others could only offer long delays, we again continue to make immediate delivery of precious metals to our clients despite the Mint’s struggles and even in the face of the potential silver squeeze the developed in conjunction with the Redditt/GameStop saga.

Here at Republic Monetary Exchange, we always recommend best practices for our clients.  We do not think clients should be sending money to boiler room operators far away who cannot make immediate delivery.  Avoid the needless risk of placing and paying for orders elsewhere with dealers that are asking for advance payment and then promising delivery at some uncertain date in the future.  

We have gold and silver in inventory.   

You can buy today and take delivery today!  Isn’t that the way business should be done?  Protect your wealth in these times of economic upheaval.  Contact us today!