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The U.S. Mint will produce fewer gold and silver coins in the near future. The Mint scales back its production capacity due to the coronavirus and due to a shortage of coins. The production site in West Point is unable to produce at full capacity due to measures against the virus. Also, the mint in San Francisco has not been running at full capacity since its reopening in May. Due to production restrictions on the one hand and a high demand for coins and investment coins on the other, the mint is unable to mint enough gold and silver coins.
The mint has therefore asked coin dealers to estimate the demand for investment coins, so that they can adjust their production accordingly. The US Mint has also reduced its production of collector coins to free up more capacity for the investment coins. Since the corona crisis, these have been in short supply, which has led to increased delivery times and premiums. Despite the fact that mints have scaled up their production, the most popular investment coins are still not available in unlimited quantities.
At the same time, the U.S. Mint is struggling with another problem, namely a shortage of regular coins. Due to the corona crisis, Americans pay less with cash, which means that less coins are circulating. As a result, there has been a scarcity of change. The mint must therefore temporarily mint more ordinary coins. The mint even recently made a call to all Americans to spend or exchange their coins at the bank.
It is still unclear what the production restriction means for the availability of these investment coins in the Netherlands. The silver Eagle coins have been hard to come by for some time and are relatively expensive. Gold coins of the U.S. Mint, such as the Golden Eagle and Buffalo, on the other hand, are readily available.
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This contribution was made from Geotrendlines
