Due to measures taking by the West Point Mint to protect workers from the virus, the production of gold and silver coins will be reduced over the next 12-18 months.  By enacting these worker policy changes, the U.S. Mint will not be able to produce gold and silver bullion coins at the same time.  

Thus, if demand continues to be strong for Gold and Silver Eagles, we could see higher premiums in the future.

According to the Bloomberg article published yesterday, U.S. Mint Has Reduced Silver, Gold Coin Supply to Purchasers; the U.S. Mint also stated the following:

To cope with demand, the Mint is now asking dealers to provide their 10-day and 90-day forecasts for demand for the first time ever. That will allow it to decide what products to make as some are more labor-intensive than others, according to the document. If the Mint decides to make one-tenth of an ounce of gold, for instance, it must cut production of American Eagle Silver coins.

https://silverseek.com/article/us-mint-reduce-gold-silver-eagle-production-over-next-12-18-months

| Digg This Article
 -- Published: Wednesday, 29 July 2020 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus
Previous Articles