US Mint couldn’t meet demand for gold and silver coins due to pandemic buyingFebruary 3, 2021
The United States Mint was unable to meet surging demand for its gold and silver bullion coins in 2020 and through January, due partly to pandemic-driven demand and plant capacity issues, it said. Sales of US gold bullion coins rose 258% last year while silver coin demand was up 28%, the Mint said on Tuesday. Heavy buying has continued in 2021, it said, squeezing supplies, which had already been tight as the coronavirus affected production. A social media-driven buying spree lifted silver futures to an eight-year high on Monday, but dealers in the market for coins were already grappling with a supply shortage and shipping delays before that rally.