united states mint exhausts silver eagle inventory
- Published: Nov 5, 2014, 10 AM
Mint spokesman Michael White said plans were being developed to replenish the inventory to meet the insatiable investment demand for the bullion coins. A similar situation occurred a few weeks ago, pushing the Mint to increase production to restock the bullion cupboards.
A notice was sent to the authorized purchasers Nov. 5: "This is to inform you that due to the tremendous demand we have experienced in the last several weeks, the U.S. Mint has temporarily sold out of its American Eagle Silver Bullion Coins. We continue to produce 2014-dated coins and will advise you when additional inventory will be available for sale."
The Mint's authorized purchasers are currently unable to order the coins until inventory is available.
The Mint expects to be striking 2014 coins through the end of the year as long as demand remains. The Mint does not plan to resume striking 2015-dated coins until the early part of January. Any 2014 coins struck but not sold in 2014 will be carried over to 2015. The Mint struck an undisclosed quantity of 2015 American Eagle silver bullion coins earlier this year before halting production in order resume striking the 2014 coins.
As of Nov. 5, the Mint reported cumulative silver bullion American Eagle sales at 39,096,000 coins, with 5.79 million coins sold just in October.
The Mint does not directly sell the bullion coins to the public. Instead, the coins are sold to a series of authorized purchasers for the closing spot price of the metal on a given day plus a premium of $2 per coin. The coins are then resold to dealers and the public at a small markup.
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