8.73 Million Gold Dinar at RM800/coin = RM6.983 Billion !
The sad state of affairs in gold land: the premium for the 1 ounce
Gold Eagle coins has expanded from $59 to $99, Krugerrands are not
available for sale in most places, and this most recent development just
out of the US Mint: the
one-tenth ounce American Eagle inventory
at the mint has been depleted, almost instantaneously after the coin
was made available for purchase. This occurred the day after the mint
announced the release of fractional Eagle Gold Bullion Coins in one-half
ounce, one-quarter ounce, and one-tenth ounce weights. As
Coin News reports:
The Mint sold 345,000 coins to its authorized purchasers for a total of 58,000 ounces of gold. That, without a single one-ounce size leaving Mint doors.
Sales of 2009 one-ounce sized gold eagles are expected to resume in
"early December" while the production of the 2010-dated American Eagle
Gold and Silver One Ounce Bullion Coin are expected to begin in Jan.,
2010.
So no sooner did the Mint start selling the new 1/10 ounce denominated gold pieces, than they ran out.
The US Mint ran out of one ounce 2009 American Gold Eagle coins
last week which caused their temporary suspension, and now the
fractional sizes that were just launched are either gone or being
allocated following record one-day sales.
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