I could hardly believe the headline when I read it, but it’s true.
After a little checking around I found the official release from the U.S. Mint:"…Because of unprecedented demand for American Eagle Gold and Silver Bullion Coins, the United States Mint suspended production of 2009 proof and uncirculated version of these coins…"
|American Eagle Gold Proof:
the coin you’re not allowed to buy.
Let me get this straight, with demand ticking up they choose to stop production? In any private or publicly-held company the reverse happens: greater demand warrants increased production.
So what gives?
It’s simple, it’s the government version of contango, where a commodities holder (in this case, the U.S. Mint with gold) has determined that the far future price of that commodity will be greater than the near future or spot price and therefore refuses to sell.
The U.S. Mint has determined that by hoarding the gold they already have now at the low prices they’ve already paid they can increase profit margins later by suspending production until gold reaches the $1,200 – $1,400 range most analysts believe is coming.
So if the U.S. Mint is willing to defer profits today for greater profits tomorrow, then you know gold’s going up.
Now you can tap into skyrocketing gold price (it’s up 20% since May!) with my new report, Gold Rush 2010: 3 Gold Stocks for Gold Over $1,000.
Use this link to find out how to get your copy before it’s too late…