The US Mint is temporarily halting sales of its popular American Buffalo 24-karat gold coins, according to the Associated Press. The Mint says it can’t keep up with soaring demand as investors seek the safety of gold amid economic turbulence.

Mint spokesman Michael White said Friday that the sales were suspended because demand for the coins has exceeded supply, and the Mint’s inventory of the coins has been depleted.

The Mint had to temporarily suspend sales of its American Eagle one-ounce gold coins on August 15th, and then later that month announced that sales of the Eagle coins would resume under an allocation program to designated dealers.

White said the Mint expected to soon start distributing available Buffalo gold coins through a similar allocation program.

The Mint has sold 164,000 of the coins this year, up 54% from the same period a year ago.

“People are scared. Gold has become a safe haven,” said Michael Maroney, vice president of sales at Monex Precious Metals in Newport Beach, California.

Investment advisers caution that the volatility seen in gold prices could make investments in this area more of a risky decision if gold prices suddenly begin to fall sharply.

The Mint introduced the American Buffalo gold coin, the country’s first 24-karat gold coin, in 2006. Congress authorized production of the coin in an effort to capture a portion of the global market for pure gold coins, competing with such coins as the Canadian Maple Leaf.

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