Strong Demand for American Eagle Silvers Leads to Suspension of Sales

The US mint which sells a wide range of bullion gold and silver coins through its network of authorized dealers has announced suspension of sales of its 2013 dated American Eagle Silver Coins for the time being. The sale will be resumed soon.

The decision comes as the inventory of these freshly minted coins run out and investor demand for these coins surges in the first fifteen days of their launch itself. The strong demand for these coins is attributable to the growing popularity of bullion as a safe investment because of growing fears about a possible recession in the US.

Addressing its authorized dealers in a mail, the US mint said it expects to resume the supply of this popular series by the end of January after the inventory for these coins is replenished. Minted at the West Point, New York minting facility of the US mint, these coins are highly popular and minted every year since 1966. Featuring the famous Walking Liberty design that was originally created for the 1916 US half dollar coin by Adolph Weimann on the front side and the heraldic eagle on the back side, these coins are highly demanded. The back side of the American Eagle series coins also displays the shield of the Great Seal of the United States.

The US mint has been witnessing robust demand for the American Eagle series and sold more than 5 million ounces of silver eagles in the first fifteen days itself. The sale figures are expected to surpass January 2012 level of 6.1 million ounces. The mint had sold 33,742,500 American Eagle Silver coins dated 2012 and the inventory of these coins was finished on December 19 itself.

The highest ever sale of American Eagle Silver coins was reported in the year 2011 when 39,868,500 coins were sold. The second highest sales were recorded in 2010 when 34,662,500 coins were sold and the third largest sales were recorded in 2012.

The US mint will also soon start taking orders for silver proof coins from the general public.