Saturday, May 31, 2008

High flying U.S. Silver Eagle Bullion coin sales grounded by U.S. Mint

Silver’s growing popularity as an investment vehicle has stymied the U.S. Mint, which stopped taking orders for its American Eagle Silver Bullion coin, and rationed sales for the remainder of this year.


The 2008 Silver Eagle dollar coins have become so wildly popular, the U.S Mint stopped taking orders for the bullion coins in March, and late last month began limiting how many coins the exclusive group of 13 authorized buyers globally can purchase.

On Thursday, Michael DiRienzo, Executive Director of the Silver Institute, asked Edmund Moy, Director of the United States Mint, to meet with institute members to discuss immediate remedies to the shortage.

The American Eagle Silver Bullion coin is the country's only official investment-grade silver bullion coin with weight, content and purity guaranteed by the U.S. Government. With their unique government backing, the Silver Eagle dollar coin can be sold for cash at most coin and precious metals dealers globally. They are also considered legal tender and sell at silver's prevailing marketing price, plus a small premium to cover coinage and distribution costs.

The U.S. Mint advertised the coin as a . . .

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