Status of American Silver Eagles in Question for 2010
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 version of the coin is distributed by the United States Mint through their authorized purchaser network. These large scale buyers purchase the coins directly based on the price of silver plus a fixed mark up. The authorized purchasers distribute the coins to other bullion dealers and sell the coins to the public, and provide an outlet for resale.
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.
The United States Mint has often cited their legal requirements to produce the bullion coins in quantities which will fulfill the full demand of the public. They have also noted the fact that they are under no legal obligation to produce coins for collectors. As a result, in times of limited precious metals supply, the US Mint has focused their production solely on the bullion version of the coin.
In October 2009, they officially announced that the 2009 Proof Silver Eagle and 2009 Uncirculated Silver Eagle would not be issued. The Mint cited their legal obligation to produce bullion coins and stated that they would work with precious metals blanks suppliers to attempt to increase supply, so that more coins could be produced in 2010.
Recently, the American Silver Eagle bullion coins were suspended after the US Mint's inventory became depleted. The coins were offered a week later, but under a rationing program. This program limits the number of coins that authorized purchasers can order. Since the US Mint is not fulfilling the full public demand the status of the 2010 collectible versions is one again in question. - 23212
The bullion version of the coin is distributed by the United States Mint through their authorized purchaser network. These large scale buyers purchase the coins directly based on the price of silver plus a fixed mark up. The authorized purchasers distribute the coins to other bullion dealers and sell the coins to the public, and provide an outlet for resale.
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.
The United States Mint has often cited their legal requirements to produce the bullion coins in quantities which will fulfill the full demand of the public. They have also noted the fact that they are under no legal obligation to produce coins for collectors. As a result, in times of limited precious metals supply, the US Mint has focused their production solely on the bullion version of the coin.
In October 2009, they officially announced that the 2009 Proof Silver Eagle and 2009 Uncirculated Silver Eagle would not be issued. The Mint cited their legal obligation to produce bullion coins and stated that they would work with precious metals blanks suppliers to attempt to increase supply, so that more coins could be produced in 2010.
Recently, the American Silver Eagle bullion coins were suspended after the US Mint's inventory became depleted. The coins were offered a week later, but under a rationing program. This program limits the number of coins that authorized purchasers can order. Since the US Mint is not fulfilling the full public demand the status of the 2010 collectible versions is one again in question. - 23212
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