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U.S. Mint Runs Out of Smallest American Eagle Gold Coin

April 24, 2013 in Coins, Gold, Gold Coins, Gold Eagles, Investing, News, US Mint, USA Coins

By Debarati Roy – Apr 24, 2013 (http://www.bloomberg.com)

The U.S. Mint ran out of its smallest American Eagle gold coin after demand surged following the biggest drop in futures in three decades.

Sales of the coins weighing a 10th of an ounce were suspended after demand more than doubled in 2013 from a year earlier, the Mint said yesterday in a statement. Total sales of American Eagles in April have almost tripled from a month earlier, according to its website.

Shoppers from India to China and Japan joined consumers in the U.S. and Australia in the rush to buy jewelry and coins after futures slumped 13 percent in two days through April 15. Indian buyers flocked to stores and banks for ornaments, coins and bars as purchases from the Perth Mint in Australia doubled and retail sales across China tripled.

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