US Mint Sold Out
American Eagle Silver Bullion Coins 2012 sold out after a huge increase in sales during December. It was the third largest level of December sales in the history of the Silver Eagle with orders for more than 1.6 million ounces. The US Mint told authorized buyers that the 2012 American Silver Eagle bullion was sold out in mid December and there would be no more of the 2012 coin minted.
The 2013 Silver Eagle bullion coin will be available to order from January 7th but this leaves a three week period at the busiest time of the year for the US Mints most popular coin. There is normally a rush of orders in January from authorized buyers which is likely to be significantly exasperated by the three week void of supply from the US Mint.
The US Mint only sells the American Eagle Silver bullion coins through a network of authorized buyers and not direct to the public. They are purchased in bulk and the price is calculated from the current price of silver plus a fixed premium. They are then sold on to other coin dealers, bullion dealers and to the public.
The US Mint released their 2013 annual product schedule on December 19th, earlier than usual. Acting Director Richard Peterson said they are listening to their customers and by releasing the schedule early it is a reflection of their commitment to their customers and a continued effort to give their customers as much info as possible.
The United States Mint decided to change their production plans for both the one tenth ounce and the one ounce American Eagle Gold bullion coins following very strong sales during November. However, it seems that the US Mint didn’t make alterations to the plans for minting the Silver Eagle bullion coins.
The Silver American Eagle 2013 will also be minted in various different versions for collectors. The 2013 Silver Eagle Proof will be released two months earlier than usual on January 24th This coin will have the frosted relief on a mirrored background giving it the familiar cameo effect. The price for the Silver Eagle Proof is likely to be $62.95 which will be a $3 increase on the 2012 coin which sold out in November.
The American Silver Eagle Uncirculated 2013 is scheduled for release by the US Mint in May. This coin will have the “W” mint mark and will be struck on specially burnished blanks. These collectors’ coins are expected to be available for $53.95 which will be a $3 increase on the 2012 version which is still available to purchase.
The West Point Silver Eagle Set is scheduled for release in May or June. This set is to commemorate the 25th anniversary of the “mint” status of West Point. Although West Point was built 50 years earlier it did not become an official branch of the US Mint until 1988. This will be a special two coin set with one Silver Eagle reverse proof and one Silver Eagle uncirculated coin, both displaying the “W” mint mark.
Reverse proofs are minted in the opposite way to conventional proofs. The main design features and inscriptions are mirrored and the background is frosted. The price for the West Point Silver Eagle set is expected to be around $160.