U.S. Mint Halts Gold and Silver Coin Production; Supply Shortages Deepen and Premiums High

 

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by GoldCore
Fri, 04/17/2020 – 09:53
Gold prices inched lower on Friday but continuing safe haven demand to protect from the coming global recession or depression and global debt crisis will support gold. Strong demand means it is on course for its second straight weekly gain in all major currencies after hitting new all time record highs in euros, pounds and other currencies this week.

The shortage of small and large gold bullion coins and bars continues and may deepen as prices move higher and we enter a financial crisis. The U.S. Mint suspending gold coin production now along with silver coin production (see below) will exacerbate the strong demand and limited supply challenges and may lead to premiums remaining elevated.

Due to our direct relationships with leading refineries and as Authorised Distributors of government mints, we continue to sell gold bars (1 oz, kilo and 400 oz) and silver bars (1,000 oz) and gold coins including Gold Britannias and Sovereigns and Gold Nuggets or Kangaroos in volume. Our premiums have risen to reflect the rise in wholesale premiums from our mint and refinery partners, but we continue to have some of the most competitive premiums in the world.

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