US Mint suspends sale of 24-karat gold coins-can't keep up with soaring demand

[kpete]

US Mint suspends sale of 24-karat gold coins
Sep 26 02:57 PM US/Eastern
By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) - The U.S. Mint is temporarily halting sales of its popular American Buffalo 24-karat gold coins because it can't keep up with soaring demand as investors seek the safety of gold amid economic turbulence.

Mint spokesman Michael White said Friday that the sales were being suspended because demand for the coins, which were first introduced in 2006, has exceeded supply and the Mint's inventory of the coins has been depleted.

The Mint had to temporarily suspend sales of its American Eagle one-ounce gold coins on Aug. 15 and then later that month announced sales of the American Eagle coins would resume under an allocation program to designated dealers.

White said the Mint expected to soon start distributing available Buffalo gold coins through a similar allocation program.

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