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<p>[QUOTE=&quot;John Burgess, post: 7612463, member: 105098&quot;]they say the problem is that demand for silver is so high they are struggling to make purchase of the planchets to strike the coins... their story is they can&#039;t mint to demand because they don&#039;t have the silver to do it. </p><p><br /></p><p>&nbsp;31 U.S. Code § 5116(b)(2) states in part, “The Secretary shall not pay more than the average world price for silver under any circumstances. As used in this paragraph, the term ‘average world price’ means the priced determined by a widely recognized commodity exchange at the time the silver is obtained by the Secretary.”</p><p><br /></p><p>they are locked into buying at paper market spot price, not physical silver price, or real world market prices. they have to buy at $27.45 an oz currently and not a cent higher. everyone else is willing to pay higher currently, the mint can&#039;t because their hands are tied by the legislation.</p><p>the premium added to bullion currently, I believe some or most of that&#039;s the extra money above spot it takes for a supplier to secure the physical silver delivery to supply to their customers.&nbsp; the mint isn&#039;t allowed to pay that kind of money for it to compete with everyone else. even with silver vendors, who have to pay more to get the silver, and more than silver spot, it&#039;s hard to get what the mint wants at paper spot. </p><p><br /></p><p>in this case &quot;mint to demand&quot; can&#039;t function, they don&#039;t have the silver to do it. they have to work with what they have and when it&#039;s gone it&#039;s gone or carry backorders and maybe not fulfill the items if they can&#039;t source the silver at the right price.</p><p>Not defending them, just saying how I understand it to function currently and why they can&#039;t do it.&nbsp; </p><p>they stopped the First W SAE and will produce the 2nd one this year, but they stopped the first one because that was all the silver they had allocated to making them, and they are sitting on supply for the type 2 reverse now. </p><p><br /></p><p>Same thing for the morgan dollars. they secured 1,075,000 commem planchets for that, and that&#039;s all they have to make the 6 of them with, Also why they made the Peace Dollar 200K and the other 5 all 175K, to use up the allocation, and not make a morgan dollar with a higher mintage than the other 5. they could have done it differently of course, but it can&#039;t be split equally 6 ways.[/QUOTE]</p><p><br /></p>

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