silberinfo Interview with United States Mint

[webmaster]

Subject:silberinfo Interview with United States Mint
By: silberinfo

Overview: The United States Mint's capacity to produce American Eagle Silver Bullion Coins is quite large. United States Mint facilities have sufficient production capacity to meet the unprecedented demand for these coins. However, we have encountered challenges in acquiring enough silver blanks that meet the exacting specifications of the American Eagle Silver Bullion Coin Program to fulfill the current high demand.

Link: http://news.silverseek.com/SilverSeek/1216387369.php

[anomaly]

The United States Mint has sufficient production capacity to meet the current demand, and is not restricting the issuance of Silver American Eagle Coins. Rather, the United States Mint has not been able to acquire a steady volume of silver bullion coin blanks to immediately fulfill all AP orders.

"So, yeah, we're actually trying to make as many as we can. But, we can't get any silver rounds to stamp. It's crazy! Demand far exceeds supply."

silberinfo:

2002 was a record year for the Silver Eagle, with 10,48 Mio. minted coins. Do you anticipate that this record will be broken 2008?

United States Mint:

Yes, the United States Mint has already sold more than 10.7 million 2008 American Eagle Silver Bullion Coins due to unprecedented demand.

So, let me get this straight: The US Mint has sold more int he first half of 2008 than it did in its previous record year (2002) DESPITE a lack of supply? So, demand is actually well over 200% of 2002 levels.

anoma|y

[aerobat]

I'm confused. I thought someone posted something that said the law regarding the origin of silver for silver eagles was different from the one for gold.

I seem to remember the poster quoted a law that said the mint WAS NOT required to use only new domestic silver for the silver eagles.

Can anybody give a difinitive answer to this?

[Argentum]

Yes, I have that thought stuck somewhere in my head as well. That there is a technical supply difference from gold vs silver.... But, really, the main point I got was the lack of supply ((from whatever source)) and the huge increase in demand.

[pkrebaum]

yes, we did cover that topic before, here's the forum link:

http://forums.silverseek.com/showthread.php?t=1010