by Mike ‘Mish’ Shedlock
The Street
Due to a Covid outbreak the US mint cannot produce enough coins to meet demand.
Bloomberg reports U.S. Mint Has Reduced Silver, Gold Coin Supplies to Purchasers
The US Mint has reduced the volume of gold and silver coins it’s distributing to authorized purchasers as the coronavirus pandemic slows production, a document seen by Bloomberg shows.
The Mint’s West Point complex in New York is taking measures to prevent the virus from spreading among its employees, and that will probably slow coin production there for the next 12 to 18 months, the document shows. The facility is no longer able to produce gold and silver coins at the same time, forcing it to choose one metal over the other, according to the document, which was presented to companies authorized to buy coins from the Mint last week.