Gold Eagle
You might have heard recently that the US Mint ceased production of the 2009 Gold Eagle before the year actually ended. This may not seem like a big deal to you, but you might look at things in a different light if you knew what the law has to say.
Federal law decrees that the US Mint must produce one-ounce Gold Eagle coins in a quantity sufficient to meet consumer demand. The US Mint blamed the cessation of production on a shortage of one-ounce blanks. For those who aren’t familiar with the term, blanks are the gold medallions that are used to make the Gold Eagles and other gold coins. When this “shortage” became a problem, the US Mint stopped making both the bullion and Proof versions of the one-ounce coin. Not only that, but the Mint also stopped making fractional sizes of the Eagle coin.
Although a shortage was given as the official reason of stopping the manufacture of the coins, there has been widespread controversy that the US government is actually hoarding the gold for themselves. The dollar’s recent surge may offer a glimmer of hope to policymakers, so 2010 Gold Eagle coins are now being produced at the regular rate. The US Mint is currently offering the Proof version of the one-ounce Eagle on its’ website, and investors can purchase the American gold Eagle bullion coin (in the one-ounce variety) from authorized dealers.
No one knows for sure how many coins will be produced this year, and the US Mint’s discontinuation of all fractional coins is a sign that the gold could be diverted somewhere else in the near future…for example, to our international debtors or to Fort Knox to back up our dollar if another currency slide begins. To see how the Gold Eagle controversy plays out and to get the info you want on these American coins, visit www.USMint.gov or stay in close contact with Gold-Eagle.org for updates on this developing story.
Michael Johnson
