Canada Mint Says It Can Meet Demand for Gold Coins

Source: Reuters (9/26/08)

Coin dealers from the United States and Canada have reported a surge in buying of coins and other gold products. On Thursday, the U.S. Mint was forced to temporarily suspend sales of its American Buffalo 24-karat gold one-ounce bullion coins because strong demand depleted its inventory.

The Royal Canadian Mint is not suspending sales of its gold bullion coins and is able to meet rising investor demand for the precious metal, a spokeswoman said today.

"Although we are facing growing demand, we can keep producing the coins to meet the demand as best we can," said spokeswoman Christine Aquino.

Investors are increasingly interested in gold products as the crisis ripping through financial markets makes them appear as the safest haven.

Coin dealers from the United States and Canada have reported a surge in buying of coins and other gold products. On Thursday, the U.S. Mint was forced to temporarily suspend sales of its American Buffalo 24-karat gold one-ounce bullion coins because strong demand depleted its inventory.

There had been market talk that Canada might make a similar move. But Canada's mint is less reliant on external suppliers than its U.S. counterpart...

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