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<p>[QUOTE=&quot;V. Kurt Bellman, post: 2970669, member: 71723&quot;]Generally speaking, with a VERY few exceptions, all U.S. bullion coinage comes from one of two sources - 1) Domestically sourced contemporary mining resources, or 2) an infinitesimally slow draw-down of the U.S. Treasury Department held and owned [NOT the Federal Reserve - who OWNS NO GOLD] gold withdrawn only VERY occasionally from the Fort Knox holdings. That gold gets stored at the West Point mint where it is refined to the correct fineness for the issue. AS A PRACTICAL MATTER, for .999 or finer gold, it&#039;s cheaper to buy it than to re-refine it from Ft. Knox gold. So in general, gold Buffaloes? Bought. American Gold Eagles and $5 gold commems? Ft. Knox through West Point.</p><p><br /></p><p>These days, all silver bullion is bought as ready-to-strike blanks. The strategic silver reserve was fully exhausted by the early years of the American Silver Eagle program.[/QUOTE]</p><p><br /></p>

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