Read this story this morning, I copied the story below and here's the link, http://www.nbcnews.com/business/us-mint-runs-out-2013-silver-coins-1B8022568 Josephine Mason, Reuters [h=1]US Mint runs out of 2013 silver coins[/h] US Mint The U.S. Mint has temporarily run out of 2013 American Eagle silver bullion coins. Advertise | AdChoices NEW YORK - The U.S. Mint has suspended sales of its 2013 American Eagle silver bullion coins after running out of stock due to soaring investor demand for the newly minted coins in the first two weeks of the year. Sales to authorized dealers will resume on or about the week of Jan. 28 after the U.S. Mint has replenished its inventory, it said in an email to authorized dealers on Thursday. The coins are produced at the Mint's West Point, New York, facility. While it is typical for collectors to snap up newly stamped coins, interest this year has ballooned due to investors seeking refuge from U.S. economic uncertainty. Silver Eagle sales to Jan. 15 exceeded 5 million ounces and were on track to surpass the all-time monthly high of 6.1 million ounces, set in January 2012. Physical coin sales had risen in the final months of 2012 as investors protected their nest eggs from a feared U.S. recession. Many economists predicted a U.S. economic downturn would occur if Congress and the White House did not act to stop pending huge tax hikes and automatic spending cuts known as the "fiscal cliff." It is not the first time the Mint has faced a run on its stock. It started allocating sales to authorized dealers in recent years after its supplies were depleted by unprecedented demand. The Mint had been due to start taking orders for coins, which fetch just under $63 each, from the general public on Jan. 24. Copyright 2013 Thomson Reuters.
Intresting, I guess we can predict the mintage numbers shall be in the 8 figures as years most recent past?
I just posted a thread the other day about ideas of how the Mint could alter it's design of the ASE in order to grow sales after sales dropped a little last year from 2011. Shows what I know. :bangg:
And I guess our hopes of them dropping the price with the lower price of silver probably isn't going to happen if these things are still selling like hotcakes even with the high premium over melt....
If they are having trouble obtaining production material so be it. My guess is that they'll take a break and then get going again in a couple of months with a new and exciting, and of course inflated price. There's no way that the mint would allow the marketplace to profit from a dip in production and the subsequent speculation when they can just continue to produce at a higher price and reap the benefits themselves. There must have been some serious pre ordering done since the coin wasn't due to come out until 1/24/13. Probably a preferred dealer thing. I guess I couldn't count on a subsriber such as myself being in those pre orders though. My prediction for the Home Shopping Network's pricing - $250.00
High premium over melt? I assume you are referring to something other than silver bullion eagles? The mint sells the eagles for $2 over spot to their distributors I believe.....
I believe they expect to be caught up by Jan 28th/Jan 31st, seen this posted a couple times but can't find it now.
I believe that Rassi may have been referring to what the Mint sells its coins to us (the common retail customer) for.
gotchya, i don't think they even sell silver bullion eagles though on their site, only the proofs and burnished versions though if i remember correctly from the other day. How many bullion sales isn't necessarily indicative of how many proofs and burnished they are selling though, or at least I don't think so.....
Well, the proof eagles are slated for release next Thursday. Hope this sudden demand doesn't muck things up for the proof collector.......
Yes, I was....was hoping the proof versions might drop a bit closer to spot prices...I understand they will always have a numismatic premium...
