The US Mint has annouced that they are stopping the sales of the very popular Gold Buffalo coins. Micheal White, a spokesman for the US Mint, stated friday that sales of the 24Kt Gold coins are being halted due to extremly high demands and a depleted inventory.

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On August 15th the US Mint suspended sales of the one ounce Gold Eagles due to a limited supply and an overwhelming demand for one ounce gold. Then at the end of the month they re-opened sales to designated dealers only. The mint has reported that Gold Buffalo sales this year total an astonishing 164,000 coins, which is up nearly 54% since last year. This overwhelming demand has forced the suspension of the 24kt Gold Buffalo coins. The mint is excpected to re-open sales of the Buffalo coins this year, however sales will  be limited to designated dealers only much like the one ounce Eagles. The demand for precious metals and numismatics are overwhelming, and the mint is struggling to keep up.

"People are down right affraid of the financial markets right now", numismatic specialist for The American Eagle Reserve  Walt Durham said. " Many dealers are reporting that demands for numismatic coins are up fiffty to sixty percent in the last couple of weeks with a majority of the companies sales totaling over seven figures a day. I am already seeing that the spreads on numismatic coins are getting higher every week instead of every quarter. The demand is out there and not just for gold either. Platinum and silver too are being bought up as quickly as they become available. This almost excactly mirrors what we saw in the early 70's when gold went to $850. If this is truly history repeating itself then $4,000 Gold is not only possible it's probable. The Bottom line is there is uncertainty in our economy and a big problem in the financial markets, and numismatic coins do very well when this happens. We all know that these two problems will not and can not be fixed over night, so we can look forward to a strong bullish market on numismatics for the next couple of years."   - The SETX Monthly Report