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U.S. Mint halts gold coin output just as demand is surging
By Joseph Richter and Yvonne Yue Li
Wednesday, April 15, 2020
The clamor for retail investors to get hold of precious-metals coins is about to get more urgent.
The U.S. Mint said today it is temporally halting production at its West Point facility in New York because of the risk to employees from the coronavirus. The site makes gold, silver, platinum, and palladium coins, which are sold through a network of distributors.
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in Ghana, Africa's largest and safest gold producer
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The shutdown comes as convulsive swings in financial markets spur a surge in demand among retail investors for precious metals as haven assets. Last month the Mint said it sold out of American Eagle silver coins, while the gold coins it offers were snapped up in March at the fastest pace in over three years. ...
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