Gold Investing - March 2011 Totals For Gold Eagles

Here are the final March 2011 totals for Gold American Eagles:

one-ounce gold eagles - 60,500, year-to-date 263,500;
half-ounce gold eagles - 8000, year-to-date 21,000;
quarter-ounce gold eagles - 20,000, year-to-date 38,000;
tenth-ounce gold eagles - 40,000, year-to-date 160,000.

Also in March, 38,000 one-ounce 24K Gold Buffaloes were produced as well as a rather small 2,767,000 Silver American Eagles.

Spot gold is at $1436.00 at the time of this post. Gold is up $3.20 in the last 30 days with a one-year change at $305.20 (+26.99%).

I have one gold-related article you may be interested in. As you probably know, the U.S. Mint has had problems keeping up with the demand for gold and silver bullion coins. In an article titled "Ron Paul to Probe U.S. Mint Coin Shortage" mention is made of an April 7th meeting to address this very problem. It appears another source for providing blank planchets to the U.S. Mint has been identified so this hopefully will help solve the problem. The article also mentions: 1)The Coin Modernization, Oversight and Continuity Act of 2010 which gives the U.S. Mint more flexibility in meeting the bullion coin demand (and the demand for gold and silver numismatic pieces); and 2) The Free Competition in Currency Act of 2011 whose purpose is to repeal legal tender laws in order to prohibit taxation on gold, silver and a few other precious metals. You can read the entire article here.

Here is another story that made headlines in the last few days. Gold, silver coins now officially legal tender in Utah. Utah's state tax code now that permits the use of gold and silver as legal tender for commerce within that state as long as they came from a U.S. Mint. This means no capital gains or other state taxes will be levied when the coins are exchanged. But the gold and silver coins are still only worth their face value despite spot gold over $1400 per ounce and spot silver over $38 per ounce. You can read more here.

Thanks for reading.