A rush to the security and beauty of genuine gold coins helped drive a 36 percent increase in global coin demand during the first quarter. Gold coin demand hit a three year high of nearly 77 metric tons during the first three months of the year driven by strong orders in North America, according to the World Gold Council. Safe haven buying in response to volatile stock markets and anxiety over the COVID-19 pandemic fueled interest in the coins.
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While demand remains strong, supply may be a challenge. Due to U.S. Mint safety precautions against the spread of COVID-19 there may be delays in wholesale shipments of gold coins to dealers, warned the director of the U.S. Mint.
“As the global impacts of COVID-19 continue to evolve, my top priority remains the health, safety, and well-being of the Mint workforce — the men and women who work hard to ensure you receive the highest quality products,” U.S. Mint Director David J. Ryder wrote in a statement posted on the Mint’s website. “The decisions I make will undoubtedly impact the on sale dates, availability, and delivery of some of our numismatic products.”
“I ask for your patience and understanding during these unprecedented times,” he added.
The U.S. Mint produces genuine American Eagle coins from gold mined in the United States and creates the coins at production facilities at the Philadelphia Mint, West Point Mint, San Francisco Mint and Denver Mint.
Nationwide Coin and Bullion Reserve continues to maintain an adequate supply of genuine U.S. government-issued American Eagle gold coins.
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