The US Mint has reportedly HALTED PRODUCTION of 2016 American Silver Eagle Coins…
Over the past several weeks we have documented the plunge in Silver Eagle sales at the US Mint from approximately 1,000,000 coins a week throughout the entire first half of 2016 to around 150,000 coins a week over the past month.
The lack of Silver Eagle sales has reached a point where the US Mint has reportedly just Halted Production entirely of 2016 Silver Eagle BU coins.
In a conversation with the VP (who requested to remain anonymous) of one of the US Mint’s Authorized Purchasers Friday, SD Bullion was informed that the US Mint has halted production of BU Silver Eagle coins.
The AP estimates that the US Mint has built up a supply of at least 5 million Silver Eagle coins, and with sales this week around 150,000 coins for the 3rd week in a row, the Mint has made the decision to Halt Production entirely.
The AP confirmed the market intelligence we have been sharing with Metals and Markets listeners for weeks – that the AP’s collectively began working 4-6 weeks ago to reduce large Silver Eagle coin inventories, resulting in a cliff-dive in sales at the US Mint.
The VP we spoke with advised that if the trend continues, he expects the US Mint to be stuck with a large inventory of 2016 coins at the end of the year, which means The Mint will Likely Force AP’s to Purchase 2016 coins in 2017 to liquidate their stockpile (and yes, the US Mint has a strong precedent of strong-arming the AP’s to take down inventory of back dated coins they don’t want at the same pricing as CY coins if they wish to continue their relationship).
5 thoughts on “US Mint Halts Silver Eagle Coin Production Due to Lack of Demand”
1. they over pimped them starting in 2008 onward –
2. the economy has been taxed to death.
*until they put them in circulation and eliminate the fed/frns we won’t see their true value or demand.
Executive issued Interstellar Space Credits billed through your wireless device is the more probable scenario, less the transaction fees and the 100:1 exchange rate of course.
Ammunition sales have fallen too. Could it be that people are just plain tapped out?
I think you hit the nail on the head, Mr. Cleaver. There’s plenty of demand, but no money to buy the things. Anyone who still has money has a lot of it, and they’re probably going for the gold. (we see no mention here of halting production of Gold Eagles)
Could it be they are running low on silver?