A brief update on the previous post about the 2008 Gold Eagle Suspension.
Sales of the popular bullion coins had been suspended on August 14, 2008. Word of the suspension came from one of the US Mint’s authorized bullion dealers. The Mint had informed them that they would no longer be accepting new orders. They did not provide a time frame for when sales might resume.
The US Mint issued a memo to authorized dealers on August 22, 2008 explaining that the suspension was due to “unprecedented demand” and announcing that sales would resume on a rationed basis.
“The unprecedented demand for American Eagle gold one-ounce bullion coins necessitates our allocating these coins among the authorized purchasers on a weekly basis until we are able to meet demand.”
Sales of 1 ounce 2008 Gold Eagles resumed as of August 25. According to statements from the Mint, they are equally dividing each week’s inventory into two pools. The first pool is allocated equally among all authorized dealers. The second pool is allocated based on past sales performance.
Since the suspension, the price of gold has rebounded from $796.80 per ounce to a current price of $837.10 per ounce.