Mint bullion coin news assures FUN start to 2019
Great news from the U.S. Mint.
I just got word that orders for 2019-dated bullion American Eagle and Buffalo coins will be accepted beginning Jan. 7.
Authorized Purchasers will be able to pick up their orders Jan. 10
Since I am not an Authorized Purchaser, why am I so happy?
One reason is personal. The other is professional.
The personal reason is I am scheduled to go to the Florida United Numismatists convention.
My flight to Orlando is slated for Jan. 10.
In my hoped for rounds of the bourse floor, there is now the distinct likelihood that these bullion coins will be available for purchase.
I have purchased one-ounce or half-ounce coins at this show on a few occasions to mark the availability of the new date.
I was particularly lucky when the year 2000 arrived and gold Eagles were available at the FUN show that year.
After all the warnings of wacky computers as Y2K dawned, it was pleasant to experience business as usual in the numismatic field.
There was something magic about a coin in my hand with 2000 on it.
While 2019 portends nothing of signifance, I simply like the idea of holding a 2019-dated gold coin in my hand.
In this case, I am like most collectors. I like having a new date early.
My professional reason for being pleased with this release date is that bullion sellers will have most of the month of January to move product.
There is a lot of cash generated by this process.
Some of it can find its way onto the FUN bourse
It also flows down other numismatic business channels.
Letâ€™s just call it a confidence building milestone.
Lack of availability would have created a sour mood among certain market-makers.
Confidence, as we have seen in recent weeks in the stock market, is important.
The Mint has provided some additional details.
Platinum Eagles will go on sale, but they will be rationed. or as the Mint likes to call it, allocated.
The Mint reserves the right to allocate gold and silver coins as well.
In the words of the statement: â€œWhether or not we will need to allocate the gold and silver bullion coins is still to be determined.â€�
What would require imposition of allocation?
A huge wave of early demand would do it.
Onset of serious production problems would do it.
Letâ€™s hope business is good without getting too crazy.
Letâ€™s hope the Mint functions like a well-oiled machine.
There will be a palladium bullion Eagle coin in 2019. Those who looked for it in 2018 were disappointed.
Will this be allocated? The Mint leaves the possibility open.
If palladium continues to be as hot on the commodity markets as it currently is and mintages are as low as they have been, rationing seems to be a slam dunk certainty.
Seeing all of these market forces play out on the Orlando bourse floor of the FUN show will be quite a treat.
From this aspect, 2019 will be a happy new year.
Buzz blogger Dave Harper won the Numismatic Literary Guild Award for Best Blog for the third time in 2017 . HeÂ is editor of the weekly newspaper “Numismatic News.”
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