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US Mint Raises Bullion 2010 American Silver Eagle Prices
September 30, 2010 by Tarek Saab · 2 Comments
The United States Mint has officially raised their wholesale pricing above spot on American Silver Eagles to all authorized dealers from $1.50 to $2.00, an increase of a whopping 33%.
This news comes on the heels of a significant silver spot price rally over the last month to a new thirty year record over $22 per ounce. The impact of this news is significant and has already affected dealer pricing across the country within hours, as prices on Silver American Eagles have jumped over $0.50/oz industry wide.
The year 2010 will go down as a record year for Silver Eagle sales, as the United States Mint has already sold more than 25 million coins year-to-date. See chart below:
| 2010 Silver Eagle Sales | |
|---|---|
| January | 3,592,500 |
| February | 2,050,000 |
| March | 3,381,000 |
| April | 2,507,500 |
| May | 3,636,500 |
| June | 3,001,000 |
| July | 2,981,000 |
| August | 2,451,000 |
| September | 1,880,000 |
| Total | 25,480,500 |
This development comes only two days after the US Mint announced it had sold out of 2010 gold American Buffalo and would cease production for the remainder of the year.
The impact of this rise in premiums will undoubtedly affect the prices of generic silver rounds as well. We will monitor these developments closely, as the rush into silver impacts pricing and availability.
Tarek Saab is a former finalist on NBC’s “The Apprentice” with Donald Trump. He is an international speaker, syndicated author, entrepreneur, and a managing partner at Trusted Bullion.
Where is the link showing that the US Mint has raised it’s prices by 33%? I cannot find any such article on either the US Mint’s website or within the Federal Register.
Why is the US Mint not able to sell for the same prices like other well known mints – for example the Austrian Mint or the Royal Canadian Mint. If they sell Silver Eagles in these big quantities they should be able to produce them CHEAPER not more expensive… because of the FIX COSTS are the same, but the part of fix costs per coins will be lower….