Last week, the U.S. Mint set its weekly allocation of American Eagle silver coin sales, the first allocation of 2016, at 4 million ounces. This announcement follows the increase in demand in 2015 when silver spot silver prices dropped to a six-year low.
You may remember the Mint running out of American Silver Eagles last July, when demand outstripped silver coin output. This shortage, compounded with the low silver spot price, pushed silver investors and buyers into the international market.
These factors combined in a domino effect across the world: a similar shortage of sovereign silver bullion coins occurred shortly after in Canada, record sales and rationing happened at the Perth Mint in Australia, while Austria increased silver blank production to keep up with a higher-than-expected demand for Austrian Philharmonics.
While many buyers were concerned about a shortage in silver, the problem was, in fact, due to limitations of manufacturing capacity.
The Mint’s first 2016 weekly allocation of 4 million ounces is about four times as much as the weekly allocation of late 2015, when allocations were rationed at around 1 million ounces due to low supplies.
American Silver Eagles, like their gold counterparts, are a popular coin with precious metals investors, but even more so recently as silver spot prices remain relatively low. The official silver bullion coin of the United States, the American Silver Eagle can be added to investment portfolios and precious metals IRAs. While technically a bullion coin, American Silver Eagles are also popular with collectors, potentially increasing their value for investors.
Currently, Provident Metals is shipping the 2016 American Silver Eagle in Brilliant Uncirculated condition; individual coins ship in plastic flips, multiples of 20 in mint plastic tubes, and quantities of 500 in strapped, mint-issued monster boxes. Coins start as low as just $2.69 over spot price.
Order your 2016 American Silver Eagle today, and leave us a comment to let us know what you think!
