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Mint to ration gold coins as it resumes taking orders
U.S. Mint to Resume Distribution of American Eagle Gold Coins
By Vincent Del Giudice
Bloomberg News Service
Fridaqy, August 22, 2008
WASHINGTON -- The U.S. Mint said it will resume limited distribution of its 1-ounce American Eagle gold coins a week after suspending sales because investors and collectors depleted the supply.
In a memo today to authorized dealers, Cathy Laperle, a Mint official, said the coins will be allocated "on a weekly basis until we are able to meet demand." The Mint will resume taking orders Aug. 25, Laperle said.
Citing "unprecedented demand," the Mint halted sales Aug. 15. Gold prices soared over the past year, with the most active gold futures reaching a record $1,033.90 an ounce on March 17. Prices have since declined.
American Eagle coins are available in other weights as well as in silver and platinum, the Mint said.
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