The mint has been behind the curve for most of the year, it started with shortages of the 1 oz. silver eagles. If the mint was run like a private business, I guarantee they wouldn't have shortages of product - but alas it is just another branch of an inefficient govt.

 For what its worth, there is a continuing supply (secondary market) on eBay at comparable prices to Kitco - just be mindful of the sellers feedback & shipping charges.

From: goldchat.blogspot.com

Manufacturers of gold and silver have long-term customers who buy in volume. Maybe the price they are receiving from these customers is lower than what they can sell their retail products at, but they have a difficult decision. Sure they could sell to retail buyers, or make their long-term customers compete at auction for their production with the retail buyers, but they worry that when the demand declines (as they have seen occur in the past) you retail buyers won’t be there anymore but their long-term customers will, and they will remember how the manufacturer “screwed” them and they will either take their business elsewhere or screw them back in turn. So the manufacturer, based on past experience of the fickleness of retail demand, decides to continue to supply their long-term customers. You also have to consider that some may have supply agreements, either for volume or at a price, that they cannot break.

Some manufacturers may have relatively flexible production processes and can switch production capacity to retail forms, but there is still a cost involved. Again, the delay in responding may be a result of the executives of these firms not being sure about the longevity of the demand and switching capacity also means that they have to cut back on some other products, products that they supply to their long-term customers.

What about putting on extra capacity? As you can imagine, capital expenditure decisions and bringing on new capacity is not like turning on a tap, there is a big lag in getting additional the machines delivered and operational. Again, the question that executives in the refineries and other manufacturers would be asking themselves is whether the increase in retail demand is permanent or temporary. If temporary, they don't want to waste money on capacity that will be left idle.

Bob

farmera1:

One can only wonder why the US is behind in their minting new coins.  Could it be that this is one way to slow down gold demand?  Could it be incompetence? Could it be they just forgot???  

Perhaps the US Treasury didn't think it was worth spending taxpayers' money to mint out gold coins for the latest herd of lemmings who want to buy gold at the top. Perhaps they knew people who felt they really had to own a gold coin could go out and buy Maple Leafs or Krugerrands, instead. Doesn't matter if you buy a freshly minted gold coin, or an old one. Either way, you pay a lot more money for it that it would have cost you 5 years ago. 

-The Snark

I am sure you are aware of these guys, but my preferred dealer is California Numismatic Dealers...www.golddealer.com

Good prices, and they have plenty of availability...at a premium. 

We are beginning to see a consistent premium between physical silver and the "paper" forms.  That is thought provoking. 

Hello all,

I have a few (yes a very few!) kruggerrands purchased many years ago, with the idea of turning them into jewelry for my daughters. With the price of education sky rocketing, I have thought about using them to pay for their education.

I do not need to sell them right away, but it just occurred how does one sell them in the US.

Can it be sold through a bank? If so, any idea what the commissions are?

Thanks in advance.

Solly

They can be sold through your local coin shop.

Bob P.

Something very strange is going on in the Gold market..U.S. Minted coins are sold out, all the usual sources say Gold demand is very high, but the price keeps declining. By all yardsticks, Gold should trading at $1200/oz now.

Something hidden is going on backstage. The Gold market is not very transparent. Lots of secret deals that create quick, sharp, price swings.. 

If you are into wild rumors, here is one..

 The U.S. Treasury is selling large amounts of Gold through third parties to raise some quick CASH outside the credit markets..

 The IMF needs Congressional approval to sell Gold and I don't think that approval has been given..

 

FairWind:

The IMF needs Congressional approval to sell Gold and I don't think that approval has been given..

Here is a quote from the IMF:

The IMF's policy on gold today

The Second Amendment to the Articles of Agreement in April 1978 eliminated the use of gold as the common denominator of the post-World War II exchange rate system and as the basis of the value of the Special Drawing Right (SDR). It also abolished the official price of gold and brought to an end the obligatory use of gold in transactions between the IMF and its members. It furthermore required that the IMF, when dealing in gold, avoid managing its price or establishing a fixed price.

The Articles of Agreement now limit the use of gold in the IMF's operations and transactions. The IMF may sell gold outright on the basis of prevailing market prices, and may accept gold in the discharge of a member's obligations at an agreed price, based on market prices at the time of acceptance. These transactions in gold require an 85 percent majority of total voting power. The IMF does not have the authority to engage in any other gold transactions—such as loans, leases, swaps, or use of gold as collateral—nor does it have the authority to buy gold.

The Articles also provide for the restitution of the gold the Fund held on the date of the Second Amendment to members of the Fund as of August 31, 1975. Restitution would involve the sale of gold to this group of members at the former official price of SDR 35 per ounce, with such sales made to those members who agree to buy it in proportion to their quotas on the date of the Second Amendment. A decision to restitute gold requires support from an 85 percent majority of the total voting power. The Articles do not provide for the restitution of gold the Fund has acquired after the date of the Second Amendment.

" These transactions in gold require an 85 percent majority of total voting power." The U.S. holds 16.87% of the voting power.

No Gold can be sold without Congressional approval..But SOMEBODY is selling large amounts of gold, that's for sure. Somebody needs CASH to pull their cookies out of the fire.. 

• The United States authorities have informed the IMF that U.S. Congressional authorization by law would be required before the U.S. Executive Director could support a decision for the IMF to sell gold.

• The United States Treasury announced on February 25, 2008 that it will seek authority from Congress for a limited sale of gold, consistent with the Crockett Committee's recommendation.