Silver Coin Shortages Again – 24hgold.com

The announcement on Tuesday by the US Mint that it had sold out of silver Eagle bullion coins due to a “significant” increase in demand with no orders being taken until August and possible rationing thereafter has resulted in a surge in coin premiums.

Kitco reported that premiums “have already posted a 50% increase and pressure for further premium adjustments is expected” as “physical demand for all silver products has soared over the past two days.” USAGOLD had already been experiencing strong demand over the past two weeks but “today’s [Tuesday’s] price drop has encouraged another wave of interest.” Gainesville Coins said they were “BUYING American Silver Eagles for more today than we were SELLING them for yesterday!”

Silver Doctors has the best summary of the current state of supply and premiums in this post, with 90% junk bags at up to $3.00, Silver Eagles as high as $3.25 (wholesale), a doubling of premiums on silver rounds and bars, and expectations that the Royal Canadian Mint will soon announce a premium hike… read more

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