This morning, I was checking the prices of the various commodities market and noticed that metal prices rose a little in foreign markets. Gold is hovering just below $800 per ounce and silver is under $13. Both are significantly lower than their recent six-month highs. It made me curious as to whether the US Mint is still selling gold and silver at a significant premium.
Legally, there are no limits on the number of proof American Silver Eagles that may be sold. But the Mint has placed limits on the sale of these coins. In 2003, there was a published limit of 750,000 coins. However, since 2005, the Mint does not report there being any limit on the sales of American Silver Eagle proof coins.
Last week, the Mint halted gold bullion sales to dealers. A move that has been speculated to be tied to the downward trend in the price of gold. But American Eagle gold collectible coins remain for sale at their previous prices.
Are the American Silver Eagle proofs sold out or is there a production issue that the Mint has yet to announce? Inquiries to the Mint have not been unanswer at this time. Stay tuned.