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Our Featured Numismatists ArticleAmerican Eagle Silver Dollar Coins - The Reasoning Behind the Rationing
By Christina Goldman
American Eagle silver dollars collectors are angry. And with good reason. In March, the U.S. Mint suddenly stopped taking orders for the silver bullion coins. And in late May, it imposed purchasing limits on its 13 world-wide authorized buyers.
The U.S. Mint has limited silver purchases before, in the late 1990's. Investors loaded up on the precious metal, fearing that the economy would be crippled by the computers' inability to adjust to the new millennium. The U.S. Mint has explained the rationing as a necessary decision, due to the unprecedented demand for the American Silver Eagles.
In 2008, The U.S. Mint sold 6.8 million American Eagle Silver Coins. That is twice the amount that was sold in 2007. In March alone, sales of the Silver Eagles surged to 1.85 million, nine times the amount sold in February! Clearly, the U.S. Mint has misjudged the strength of the silver bull market and the demand for the American Eagle Silver Dollar coins.
But what has caused this unprecedented demand for these silver bullion coins? Here are a few possible reasons:
The price of silver is soaring. On January 3rd, 2000, the first trading day of the new millennium, the spot price of silver traded at $5.41. Recently, the spot price of silver has traded as high as $20 an ounce, a 386 percent return on investment!
Traditionally, more silver is mined each year than gold. Therefore, silver is much cheaper and more affordable for individual collectors to purchase than gold.
The American Eagle Silver coin is the only American silver coin that can be invested in an IRA. Thus, buying Silver Eagles are an easy way for a small investor to participate in the silver bull market.
But, is this increased demand the only reason for the rationing of these Silver Eagle Coins?
Rumor has it that the U.S. Mint has run out of the planchets used to create the coins. A planchet, or blank as they are sometimes referred to, is a round metal disk that is ready to be struck into coins. These planchets are also used to create coins other than the American Silver Eagles, and the companies that produce the planchets are busy, limiting the supply received by the U.S. Mint.
The Silver Institute, a nonprofit international industry association headquartered in Washington, D.C., has written a letter to the Director of the U.S. Mint, urging it to take immediate steps to increase production of the popular Silver Eagles. With silver bullion on the rise, the Silver Institute has asked the U.S. Mint to consider alternative methods for streamlining the production process of the American Eagle Silver Dollar coin.
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In the meantime, silver investors can scour flea markets, coin shops, and estate sales for silver eagles. Or they can visit http://bullionbargains.com for a great selection of American Eagle Silver Dollar coins for sale at fantastic prices.
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One big category of coin damage we see is from staple scratches. Much of this damage comes from staples that are not completely clinched. Normal staplers leave a curl of the staple rising above the surface. This piece of staple can easily scratch adjacent coins as the coin shifts in a box or is removed or inserted from the box. Flat clinch staplers fully compress the staple into the surface of the holder leaving nothing behind to damage other coins. We like the Max HD-50DF because it is full size and uses regular staples. Max also makes half strip and palm size versions for collectors that prefer a smaller stapler. All three staplers completely clinch the staple as part of the stapling proces
Buy US paper money.
Some of the series that are famous for having above-average frosty luster include the Fat Head quarter eagles and half eagles from the 1820's and 1830's, Classic Head gold, No Motto Philadelphia issues and Three Dollar gold
Buy US paper money.
Frosty luster is considered a plus by most collectors. Unfortunately, this sort of luster is becoming harder to find as more and more gold coins are chemically treated. Coins with original frosty luster have what I call a wagon wheel effect where the luster flows clockwise and appears to almost radiate out from the center of the coin.
Buy gold coins.
If a coin has mostly numismatic value, the proof that it is authentic is critical. A coin that is not genuine would (assuming it is made of gold) have the same "melt value" as a genuine coin, but this may be next to nothing, relatively speaking, for a rare coin.
You can buy gold bullion coins in our store.
There are many ways to collect Charlotte gold. Some people have only a mild interest in these coins and may buy just one or two pieces. Other people are more serious and they have a large number of Charlotte issues in their collection. A small number of Charlotte collectors are obsessives who focus exclusively on these pieces and do not collect anything else. I would like to make some suggestions on how to collect Charlotte gold. In my experience, all of these ideas have merit and none is better than the other. It depends on the tastes and budget of an individual collector to determine which one(s) is right for him.
Buy US paper money.
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