Silver Eagle Coin Rationing News
Collectors are angry over the U.S. Mint decision to ration 2008 American Eagle Silver Bullion coins, according to a 5-23-08 article in The Wall Street Journal.
According to the article, the U.S. Mint stopped taking orders from the general public for the bullion coins in March. Late April, it began to limit how many 2008 American Eagle Silver Bullion coins its worldwide authorized buyers are allowed to purchase.
A memo circulated by the U.S. Mint last month to dealers offered only this explanation:
The unprecedented demand for American Eagle Silver Bullion Coins necessitates our allocating these coins on a weekly basis until we are able to meet demand.
You can read the article in its entirety here . . .
Collectors angered as U.S. rations 'silver eagles'
Update:
The U.S. Mint claims it is no longer rationing sales of its gold and silver coins. This is according to a memo sent to authorized purchasers or wholesalers of U.S. Mint bullion coins:
“Effective immediately, the United States is lifting the allocation process. You may place your orders under the standard ordering procedures.”
All forms of bullion coins had been in high demand since the financial crisis began. The American Silver Eagle coin had been on allocation since April 2008, and the gold Eagle since August 2008.
However, the popular proof and mint versions are still suspended at the current time.
