Gold, silver coin demand surging, straining U.S. Mint's capacity

NEW YORK (Reuters) - The United States Mint said on Tuesday it was unable to meet surging demand for its gold and silver bullion coins in 2020 and through January, due partly to pandemic-driven demand and plant capacity issues.

Sales of U.S. gold bullion coins rose 258% in 2020 while silver coin demand was up 28%, the U.S. Mint said Tuesday. Heavy buying has continued in 2021, it said, squeezing supplies, which had already been tight as the coronavirus affected production.

A social media-driven buying spree lifted silver futures to an eight-year high on Monday, but dealers in the market for coins were already grappling with a supply shortage and shipping delays before that rally.