NEW YORK, Nov 25 (Reuters) - The U.S. Mint said onWednesday it will suspend sales of the popular American Eagle1-ounce bullion coins as rising demand depleted its inventory.
"The United States Mint has depleted its current inventoryof 2009 American Eagle 1-ounce gold bullion coins due to thecontinued strong demand for this product," the Mint told itsauthorized dealers in a memorandum on Wednesday.
November sales to date were at 124,000 ounces, higher thanthe 115,500 ounces sold in each month of September and October,the Mint said.
The Mint said it expects to resume sales in earlyDecember.
Increasing worries about inflation, a falling U.S. dollarand geopolitical tensions are prompting individual investors totake physical possession of gold coins and other bullionproducts due to the metal's appeal as a safe haven in financialand political crises.
Gold XAU= hit a record high at just under $1,190 an ounceon Wednesday due to a broadly lower dollar and renewed interestfrom central banks. Year to date, the metal has risen more than35 percent. [GOL/]
Last year, the Mint had also briefly suspended sales of itsAmerican Eagle gold and silver coins due to high demand and alack of coin blanks.
Produced from gold mined in the United States, the 22-karatAmerican Eagles have been novel items among collectors andinvestors since their introduction in 1986. Each coin has aface value of $50 but it is sold by authorized dealers at apremium to the price of gold. Capital Gold Group, gold group, gold, gold prices, gold news, gold coins, gold bullion, gold IRA, IRA gold
