US MInt Runs Out Of Silver Coins!

The U.S. Mint said on Tuesday it temporarily sold out of its popular 2015 American Eagle silver bullion coins due to a "significant" increase in demand, the latest sign plunging prices have spurred a resurgence of retail buying.

In a statement sent to its biggest U.S. wholesalers, the Mint said its facility in West Point, New York, continues to produce coins and expects to resume sales in about two weeks.

This is the second time the mint has sold out of silver coins in the past nine months - it ran out of 2014-dated American Eagles in November last year.

In 2013, the historic drop in precious metals prices unleashed a surge in global demand for coins, forcing the mint to ration silver coin sales for 18 months.

Dealers attributed the recent rush to purchase silver coins and bars to its low price relative to gold.

The gold-silver ratio was "way out of whack", said Jon Edelman, owner of Edelman's Coins in Jenkintown, PA.

"That was a sign that silver was too low and people started buying. People view it as an opportunity in the long run."

On Tuesday, one ounce of gold would buy as much as 78 ounces of silver, which is historically a very wide spread.

It's not clear if Tuesday's rout had spurred a fresh round of spot buying, but demand has been healthy in recent months.

Sharp breaks in gold and silver prices typically boost buying among collectors and other retail investors, whose buying habits are sensitive to price moves.

Due to its greater affordability, silver sales tend to outstrip gold in volume terms and attract a lot more retail buyers.

Last month, coin sales surged to 4.84 million ounces, the highest since January and more than double the 2 million ounces sold a month earlier.

On Tuesday, spot silver prices sank almost 7 percent to $14.65 per ounce, the lowest for the year as the dollar climbed and amid a broader exodus of cash from commodities. (Reporting by Josephine Mason; additional reporting by Marcy Nicholson; Editing by Jeffrey Benkoe and Christian Plumb)

http://www.mineweb.com/news/silver/us-mint-runs-out-of-silver-coins-on-strong-demand/

U.S. Marshals Commemorative Coin Goes On Sale!

WASHINGTON — About a dozen coin and U.S. Marshal enthusiasts were lined up shortly before noon Thursday in the lobby of the U.S. Mint, eager to purchase the newest commemorative coins celebrating the 225th anniversary of the nation’s oldest law enforcement agency.

US Marshals Commemorative Silver Coin

“I had to be first. I’m representing my agency,” said Will King, a 10-year veteran of the U.S. Marshals Service.

King and fellow marshal Maurice Shanks were actually second and third in line to purchase the coins, which went on sale in Washington at noon. Shanks, a five-year veteran of the agency, said he was buying two silver dollar coins to hold for his 7-year-old twins.

“It’s something to show my kids when they get older,” said Shanks, who like King is a member of the U.S. Marshals Capitol Area Regional Task Force.

Sales of the coins — a $5 gold, $1 silver and half-dollar copper-clad — include a surcharge that will go to the U.S. Marshals Museum in Fort Smith. The museum could receive up to $5 million from the purchases.

The bureau is authorized to mint and issue up to 100,000 $5 gold coins, 500,000 $1 silver coins, and 750,000 half-dollar clad coins.

The coins are now on sale at U.S. Mint stores and online. Coins are being sold individually or in a set of three coins. Only 15,000 sets are available.

Shanks had hoped to also purchase a three-coin set but none was available at the store. The sets, however, could be ordered online.

Will Carter, a Washington, D.C., coin collector, said he wanted to get the three-coin set but was also interested in purchasing individual coins.

“It’s new, and I think it will be highly sought after because it has the gold coin,” he said.

Carter, who has been collecting coins since 1953, said that many of the commemorative coins authorized by Congress do not include gold, silver and copper-clad.

Coins can be ordered online catalog.usmint.gov at or by calling (800) USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may order at (888) 321-MINT.

The three-coin set is on sale for $473. The $5 gold proof coin is being sold for $412.60, $1 silver proof is $46.95, and half-dollar copper-clad proof is $14.95. Prices for uncirculated gold, silver and copper-clad coins run a few dollars less. Prices will increase about $5 after March 2.

http://swtimes.com/news/us-marshals-commemorative-coin-goes-sale