As we previously reported, the U.S. Mint recently depleted its supply of American silver eagles due to overwhelming demand for the coins. The current silver price is at a four year low, and will likely rise from current levels if for no other reason than due to the relatively high cost of production of the metal. According to this piece by SRS Rocco, over half of mining companies are losing $3 for every ounce of production at current price levels.
Silver eagle demand has only increased since the U.S. Mint’s announcement. However, good news is just around the corner, as the Mint has announced that they will resume silver eagle sales on Monday; albeit at reduced levels with an estimated one million coins available for sale. These coins will likely be sold out by the end of the week, so we may not see additional silver eagles available from the Mint until 2015. If last year’s situation is any indication, the U.S. Mint sold out of its supply of 2013 silver eagles on December 9th and didn’t resume the sale of silver eagles until January 13th of this year.
We have a limited supply of silver eagles in stock at the moment and are always in the market to purchase more (in any quantity), so whether you’re interested in buying or selling American silver eagles, contact Atlanta Gold & Coin Buyers first. We look forward to hearing from you and earning your business.