The United States Mint has issued the American Silver Eagle coins since 1986. The one ounce silver coins are issued in two different versions for both precious metals investors and coin collectors. Last year the high demand for precious metals caused the cancellation of the collector versions. The situation has continued, bringing doubts to the status of the 2010 collector coins.
The bullion coins are offered through a network of authorized purchasers. These bulk buyers are able to purchase the coins directly from the United States Mint and then resell them to other bullion dealers and the public. Their purchase price is based on the spot price of silver plus a fixed mark up.
The collectible version of the American Silver Eagle has been issued in two versions. The first is the proof version, which is struck multiple times from specially prepared dies. The coins display frosted raised elements over mirror like backgrounds to create a black and white cameo impact. The second collectible version is an uncirculated strike, which is produced on specially burnished blanks and contains the "W" mint mark.
Based on statements from the United States Mint, they are legally required to produce the bullion coins in quantities sufficient to meet public demand. There is no legal requirement to produce the coins for collectors. Based on their interpretation of the law, the US Mint sourced all incoming precious metals blanks to the production of bullion coins.
The United States Mint announced in October 2009 that they were officially canceling the 2009 Proof Silver Eagle and 2009 Uncirculated Silver Eagle. The reason cited was the often quoted sections of the law, which require the production of bullion coins in quantities to meet public demand. As consolation, the Mint stated that they hoped to resume production of collector coins in 2010 if they could increase the supply of precious metals blanks.
In recent months, American Silver Eagle bullion coin sales were suspended at the authorized purchaser level. This suspension was followed by a resumption of sales on a rationed basis. Since the supply is begin rationed, the US Mint is obviously not meeting full demand, causing collectors to doubt the status of collectible versions of the coins for 2010. - 23210
The bullion coins are offered through a network of authorized purchasers. These bulk buyers are able to purchase the coins directly from the United States Mint and then resell them to other bullion dealers and the public. Their purchase price is based on the spot price of silver plus a fixed mark up.
The collectible version of the American Silver Eagle has been issued in two versions. The first is the proof version, which is struck multiple times from specially prepared dies. The coins display frosted raised elements over mirror like backgrounds to create a black and white cameo impact. The second collectible version is an uncirculated strike, which is produced on specially burnished blanks and contains the "W" mint mark.
Based on statements from the United States Mint, they are legally required to produce the bullion coins in quantities sufficient to meet public demand. There is no legal requirement to produce the coins for collectors. Based on their interpretation of the law, the US Mint sourced all incoming precious metals blanks to the production of bullion coins.
The United States Mint announced in October 2009 that they were officially canceling the 2009 Proof Silver Eagle and 2009 Uncirculated Silver Eagle. The reason cited was the often quoted sections of the law, which require the production of bullion coins in quantities to meet public demand. As consolation, the Mint stated that they hoped to resume production of collector coins in 2010 if they could increase the supply of precious metals blanks.
In recent months, American Silver Eagle bullion coin sales were suspended at the authorized purchaser level. This suspension was followed by a resumption of sales on a rationed basis. Since the supply is begin rationed, the US Mint is obviously not meeting full demand, causing collectors to doubt the status of collectible versions of the coins for 2010. - 23210
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Learn more about the American Silver Eagle. Keep up to date with the latest information about the status of the 2010 Silver Eagle.
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