US Mint 2019 Silver Eagles Currently Sold-Out
US Mint 2019 Silver Eagles Currently Sold-Out by Rory – The Daily Coin
United States Mint announced late Thursday, Feb. 21 that due to market conditions they were unable to meet demand from Authorized Purchasers. This will create a spike in premiums on American Silver Eagles (ASE) for a short period. We see this shortage ending within the next 2-3 weeks or as soon as the Mint replenishes the planchets used to create the ASE’s.
“Market fluctuations have resulted in a temporary sellout of 2018 and 2019 silver bullion. Production at the Mint’s West Point facility continues and when sales resume, silver bullion will be offered under allocation,” United States Mint spokesman Michael White said in an email statement. “The Mint is working closely with its suppliers in order to meet the demand of its authorized purchasers.”
With the US Mint selling 2,057,500 so far in February on top of selling 4,017,500 in January this number was higher than in 2018. With the Mint creating projections using previous years numbers they were caught off guard with the upswing in sales. We firmly believe the Mint will be back online long before the Authorized Purchasers run short of supply, especially with the Mint continuing to produce product while they get back to full capacity.
Please don’t misunderstand I’m not saying this is not an issue and we shouldn’t pay attention, what I’m saying is the current conditions don’t warrant too much stress or anxiety over the situation. We should absolutely pay attention and as we move further and further away from mines being able to supply silver into the market, then we need to be concerned. Keep in mind the time frame I continually reference – 2021/2023. Everything will change.
What has happened this time around is a scheduling, ordering error on the part of the US Mint. Are supplies tight? Nope. Has there been any issues with the major silver producers – like Sunshine Mint, AMark or the others? Nope. Nothing that has been widely reported – nothing. This means, once again, this is an error on the part of the US Mint and demonstrates how ineffective government is across the board. The government ruins everything it touches.
Once we get deep into 2020 then we need to truly be on high alert. The consolidation of the giant mining companies, and the just announced hostile take over attempt by Barrick of Newmont, demonstrates the strain that is in the mining industry. As this grows, and it will grow very quickly, we need to pay very close attention to what is happening. The mining industry will tell us all we need to know about the supply of ASE’s. There is nothing in the pipeline that creates concern regarding this current situation with US Mint and the ASE program.