Gold for immediate delivery slipped 0.4 per cent to US$1,720.89 an ounce at 3:51 p.m. Premiums for gold coins are at 5 per cent-10 per cent over spot gold, compared with less than 1% in normal circumstances, said Millman. “It’s going to exacerbate the supply shortage” in the coin market when demand is soaring. “The timing is awful,” said Everett Millman, a precious-metals specialist at Gainesville Coins in Florida.
Surcharges in the amount of 35 for each gold coin, 10 for each silver coin and 5 for each clad coin sold are authorized to be paid to the Army Historical Foundation to support the construction of the National Museum of the United States Army at Fort Belvoir, Virginia. Last month, the Mint said it sold out of American Eagle silver coins, while the gold coins it offers were snapped up in March at the fastest pace in over three years. Recipient Organization: Army Historical Foundation. The site makes gold, silver, platinum and palladium coins which are sold through a network of distributors.The shutdown comes as convulsive swings in financial markets spur a surge in demand among retail investors for precious metals as haven assets. Mint said Wednesday it’s temporally halting production at its West Point facility in New York because of the risk to employees from the coronavirus. The clamor for retail investors to get hold of precious-metals coins is about to get more urgent.
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