Jun
20
The United States Mint ended allocations of Silver American Eagle bullion coins on June 15 as and has notified it's group of authorized purchasers that it's current rationing system is no longer needed.
The Mint's system of allocation was deemed necessary when demand eclipsed raw material supply of silver American Eagles on April 21, 2008.
Both supplies of raw materials currently on hand and capacity for production are now sufficient to meet the needs of the Silver Eagle Coin program. The silver blanks used in the coin's production were not in ample supply by last year when the allocation was placed into effect, as the Mint does not manufacture it's own silver blanks.
United States Mint spokesman Tom Jurkowsky was quoted as saying "Demand has begun to decline,".
While wait times for coin delivery grew longer, investors and collectors began paying higher premiums over base value in response to the allocation system. Wait times have now gone back to estimated normal levels with the recent increase in available supplies.
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