US Mint Suspends Silver & Gold Coins

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Author	Replies: 7 / Views: 2,392
tepritts Valued Member United States 306 Posts	Posted 07/14/2009 8:34 pm My son just called and said the US mint site stated they were suspending minting of silver and gold coins due to metal shortages. What has everyone else heard? Guess I won't be getting the silver proof set very soon. Terrell Report this Post to the Staff

wd1040 Pillar of the Community United States 3098 Posts	Posted 07/14/2009 8:35 pm Yeah, I read that on coinnews.net; seems like last time that only the bullion coins will be affected. Report this Post to the Staff
Sean1011 Valued Member United States 152 Posts	Posted 07/14/2009 9:44 pm Well I got a notice from the mint about a month ago saying they will send me my silver proof set sometime this week. So I don't think the proof sets are affected, the only information I heard about that is -"Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins "in quantities sufficient to meet public demand . . . ." The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products." Report this Post to the Staff
yotie Pillar of the Community United States 3077 Posts	Posted 07/14/2009 9:59 pm is the spot price of silver gonna be affected? Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 07/15/2009 12:46 pm Is this the same notice they posted last year and again earlier this year just being rediscovered and reported again? Report this Post to the Staff
steve199 Pillar of the Community United States 1882 Posts	Posted 07/15/2009 1:08 pm Yotie, I suspect demand for American Silver Eagles is small compared to the total demand for silver. Jewelry doesn't represent a major percentage of silver demand, either. Late last year when this sort of thing happened, there was a high premium on retail silver products (silver rounds/bars, silver bullion coins, etc). The spot price didn't bounce up to match that retail demand. Oh, and then there were those that thought Comex would go into default in December, 2008...that's another story. Report this Post to the Staff
yotie Pillar of the Community United States 3077 Posts	Posted 07/15/2009 1:20 pm my wife work at the jewelry counter in a chain store (not Wal Mart} and they just got in a large order of silver and turquoise she had to put on display she thinks its a possible fashion trend probably because gold got too high for their clientele Report this Post to the Staff
steve199 Pillar of the Community United States 1882 Posts	Posted 07/15/2009 1:51 pm Yep, less folks are wanting to pay for gold jewelry...the trend has been building for more than two years now. We are seeing this with all the retailers we deal with. Report this Post to the Staff
	Replies: 7 / Views: 2,392

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