investmentwatchblog.com / January 26th, 2013
First the US Mint suspends Sales… Now it’s Canada’s turn!
US Mint Out Of Silver Coins – Suspends Sales
“Authorized Purchasers,
The United States Mint has temporarily sold out of 2013 American Eagle Silver Bullion coins. As a result, sales are suspended until we can build up an inventory of these coins. Sales will resume on or about the week of January 28, 2013, via the allocation process.
Please feel free to call us if you have any questions.
Regards,
Jack A. Szczerban
Branch Chief, Precious Metals Group
Department of the Treasury
United States Mint”
Canadian Mint Limits Sales of 2013 Silver Maple Leaf Bullion Coins
Investor interest in silver bullion coins remains at high levels with yet another world mint showing signs that it is unable to meet demand. The Royal Canadian Mint is now rationing supplies of its 2013 Silver Maple Leaf.
This move comes one week after the United States Mint suspended sales of their 2013 American Eagle silver bullion coins after inventories sold out, saying it would ration or limit orders when sales resume. Both series of bullion coins are struck for investors and guaranteed for weight and purity by the issuing government.
A statement offered by the Royal Canadian Mint identifies strong demand as the catalyst for the Maple Leaf rationing:
“We are carefully managing supply in the face of very high demand for SML (Silver Maple Leaf) coins to ensure all our distributors are served and we continue to take sales orders,” states Alex Reeves, RCM Senior Manager of Communications.
“Coming off strong sales volumes in December 2012, demand to date remains very strong for our Silver Maple Leaf and Gold Maple Leaf bullion coins. Specific (sales) numbers will be made available at our regular reporting intervals.”
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