Gold Sales at a Halt as Prices Soar....

Hot news came this week about the U.S. temporarily suspending sales of the American Buffalos due to fear of running out of the treasured coins.

The 24 karat gold American Buffalo coins were first introduced in 2006. The coins were authorized by Congress for the United States to enter international gold bullion market with competing coins like the South African Krugerrand and the Canadian Maple. The American Buffalos hold a face value of $50, but are priced accordingly with the international gold market. The coin is a one ounce gold bullion coin.

Due to the ongoing economic crisis, consumers are flocking to gold as a safe hedge against inflation. The current demand for the American Buffalo has exceeded the supply and the Mint is depleted of inventory. Sales were temporarily suspended due to demand up over 54% from a year ago

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