Ron Paul wants to know! And so should you.
Rep. Ron Paul, R-Texas, has one question for the U.S. Mint: why is there a coin shortage?
He is aiming to get to the bottom of this during a scheduled April 7 hearing of his U.S. House Subcommittee on Domestic Monetary Policy to examine the bullion programs at the U.S. Mint.
“We are going to try and find out what the Mint has done so they can give us a better answer as to why there is a shortage. Why can’t they keep the supply of coins up?” said the congressman in an exclusive interview with Kitco News.
Demand for precious metals in the futures markets and in physical gold bullion coins increases as the dollar weakens, which often leads to coin shortages.
Part of the problem lies in manufacturing the blanks, said Paul. The blank planchets are not made at the Mint, which hasn’t had the production capacity for this stage of the minting process since the budget cuts of 1981.