As Silver Touches $34.90, US Mint Runs Out Of Bullion Blanks, Halts American Eagle Silver Coin Production

Tyler Durden's picture

The scramble for non-dilutable currencies hits a frenzy as silver just touches on a fresh 31 year high of $34.90. To commemorate this historic event, the US Mint has halted American Eagle silver coing production, in addition to its ongoing halt of American Buffalo coins: "because of the continued demand for American Eagle Silver Bullion
Coins, 2010-dated American Eagle Silver Uncirculated Coins will not be
The United States Mint will resume production of American Eagle Silver
Uncirculated Coins once sufficient inventories of silver bullion blanks
can be acquired to meet market demand for all three American Eagle
Silver Coin products."

From the US Mint:

Production of United States Mint American Eagle Silver Uncirculated Coins continues to be temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Until recently, all available silver bullion blanks were being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”

Although the demand for precious metal coins remains high, the increase in supply of planchets—coupled with a lower demand for bullion orders in August and September—allowed the United States Mint to meet public demand and shift some capacity to produce numismatic versions of the American Eagle One Ounce Silver Proof Coin.

However, because of the continued demand for American Eagle Silver Bullion Coins, 2010-dated American Eagle Silver Uncirculated Coins will not be produced.

The United States Mint will resume production of American Eagle Silver Uncirculated Coins once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.

But fear not: those so inclined can still purchase American Eagles on the Monex live exchange... for about 10% over spot.

h/t Nico P

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slow_roast's picture

Can't buy the silver bitchez!

ATG's picture

TD ZH fact check:

The uncirculated Silver Eagles discontinued many times before due to unprecedented demand for Silver Eagle Bullion coins, a different coin altogether. In the past, Silver Eagle Bullion peaks selling at steep premiums led price peaks in silver

bigkahuna's picture

Your comparison to ipods is a farce. The ipod may run out from time to time. The US Mint running out of silver is a precedent. The jokes you told are humiliating to anyone who is unfortunate to read them, and in turn are humiliating to you. Too bad.

John Wilmot's picture

"So.... since this website has morphed into a redneck libertarian forum, and since virtually all redneck libertarians are racists and/or bigots, allow me to tell a joke that everyone here will love:"

Bigot: one who regards or treats the members of a group with hatred or intolerance.

Hmmm...that's ironic, also ironic that the person who mindlessly accuses hundreds of strangers of racism is the only one to make a racist joke. Do you by chance have a N. Virginia ISP number? If not, are you unemployed currently, because have I got the job for you!

Captain Kink's picture


 And all this time I have considered myself a Libertarian...i did not know that it means I am a racist...  I rather thought it meant quite the opposite: Equality and civil liberties for all, minimal government (and minimal taxes), free market economy, etc.  Color me ignorant.


I think RNR and Harry (And Hamy) are competing to see who can get junked more by lunchtime every day. Thanks for the laugh.  Joke's on us.

Joe Sixpack's picture

What are you? A Boston blue-blood, Harvard educated criminal (i.e., banker)?

dussasr's picture

Thanks for the ad hominem attack on Libertarians.  I'd write more to refute your generalities, but I have better things to do - like pulling lint out of my navel.

-Michelle-'s picture

Oh and I had such hopes that you'd turned over a new leaf when you started posting pertinent things after New Year's.  I see the resolution has entered the dustbin of history...

HamyWanger's picture

Must agree with my friend RNR on this one. 

I can't understand libertarians. How can someone hate governments and States? This is so strange and outdated. History taught us to wary of liberty. 

Besides, if we allowed the crisis to happen, every racist libertarian bitching about the bailouts and QE2 on this site would be broke. 

LawsofPhysics's picture

Wait what, now harry and RNR know all the libertarians and racists in the country?  Very telling indeed, but I doubt it is true and I know many who are very well positioned for collapse.  In case everyone has not figured it out yet, harry and RNR work for the financial sector and continue to be a voice for the cancer that is killing all the other productive sectors of the economy.

Let it crash, the sooner we do, the sooner compensation will find its way to people and businesses that are actually worth a shit.


lieutenantjohnchard's picture

hamy, you're killing me. please coach math man the art of parody and comedy. he's woefully lacking in your way of making fools of people (as you did me) without them knowing it.

i'm a slow learner.

Long-John-Silver's picture

You have no idea what a real libertarian is and we are not restricted to a single geographic region. Simply put a  libertarian wants everyone to mind their own business and leave us alone. What is so "Redneck" about that?

HamyWanger's picture

In the idea of a socialist, the State must act to reduce inequalities, which are interpreted as injustices. Red Neck Repugnicant (and me) will be satisfied when everybody on Earth will have the exact same amount of money, forever. The ideal for socialists is a world government, which can act to target inequalities everywhere on the globe and prevent fiscal evasion. 

Libertarians propose to suppress the State, and therefore support injustice. 

lieutenantjohnchard's picture

war is peace. stupidity is knowledge.

bigkahuna's picture

You probably are unfamiliar with the type of system that causes total equality. It was soviet communism. There was a small political class that had everything. There was a large pool of equally miserable citizens--if not purged and dead. Hard work and informed decisions in a true capitalist system will lead to prosperity and success. A socialist system does not reward hard work, or competitive behavior at all. No incentive - no advancement. Socialism/communism are institutionalized cronyism. Just like you see here in the USA now. The old system of lawful markets and competition has been swept away in favor of cronyism. Once the old system ceases to exist, we will all see the true nature of the new "benevolent" masters. Libertarianism is a philosophy that is gaining momentum because it is not in an American's blood to bow to any master. We will gladly serve those who serve us, but we're not going to bow and submit to anyone.

Long-John-Silver's picture

You want everyone equally poor as shit while the elite ensures everyone stays that way. Just like the Soviet Union. Got it.

jmc8888's picture

What a dumb fuck. 

Hey idiot...I'm a democrat (whatever that means these days), I'm sure YOU aren't one.  Obama sure isn't.  Neither was Clinton, Dodd, Frank, Pelosi, etc, etc.  Not ONE of them is a democrat, and like Boehner, Bachman, Bush(s), Reagan, Nixon, Gingrich, Idiot Palin, Magical Underwear Mitt, and in many cases even Ron fucking Paul...all of you are under the same unamerican umbrella....FASCISTS who want the bankster staus quo to continue....either by printing to pay off fraudulent debt, or austerity to reallocate enough funds to pay off fraudulent debt. 

It's fraudulent, which means ANYTHING you do BUT default is tantamount to sucking the banker's COCK.  You must enjoy sucking cock. You even advertise it, and joke about how other people are wrong for NOT sucking cock. But you never told us....does sucking bankster cock taste good? Maybe the female readers of ZH might want to know.

You don't know science, you believe ANY FAKE SCIENCE, that is LABELLED science, is science.  Anybody that is ACTUALLY a scientist, can blow holes in everything you call 'science'.  Keep believeing the reverse hillbillies who are tainting science.  Wind/solar instead of nuclear/fusion? You gotta be fucking kidding me.  Instead of COPING with ANY KIND of CLimate change, we have to stop it?  Gee if we want to be in space, that climate sure is WORSE.  If we can put men in space, which we won't be able to do soon, thanks NerObama,

..., we can survive a couple of degrees changes FOR ANY REASON.  Except if we go anti-science like Obama and Eric Holder.  The true science dullards.  Nothing more anti-science than OBAMA and HOLDER.  Talk about pot calling the kettle black.

Apple can buy the resources to have their chinese slaves make more (that is until they can't...via revolt and/or hyperinflation).

Where's the silver going to come from for more blanks? Demand is high, supply is non-existent. 

Look, gold/silver IS in a bubble.  But the 'fiat' bubble, is 1000x bigger, and since it's relative, as long as one goes up, the other will faster.

When it crashes, you're right, gold/silver might be had for lower than it is now.  But why buy then? Buy now, sell some on the way up, and if you lose the rest AND the banksters disease is ridden, then I would consider that loss, 'a good investment'.

Seriously if I had money, I'd spend it on silver and if I lost most of it, awesome, as long as the Queen's Monetary system and her idiot empire went under.  Whatever legal means to bring change I say.  If people won't do Glass-Steagall or impeach the idiot president for being mentally incapacitated, then while fighting for that on one end, I'd do this on the other...if I had money.  But with all the ladders burned on the way up and ashes were outsourced to Chindia, and from USA->Mexico to Chindia, there are none. 

Sorry Summa Cum Laude shouldn't have to say 'would you like fries with that'?  Yep, but very soon I may be forced to beg (since they aren't plentiful) for a job which pays me less than a dollar an hour per year I spent in college.  Where's the change?  I guess this is the economy we should believe in.  The people who should be running companies, or being a significant part of its strategy should be asking, 'do you want pickles, onions, tomatoes on that sub?'.  Wow things are getting good.  Where's the jobs?  Where's the mag-lev, the fusion program, space program, NAWAPA, Transaqua?  Where are the real things that will create prosperity? Well Obama is not only refusing to push such ideas, HE'S on the SIDE that REFUSES ANY SUCH THING LIKE IT.  (token mag-lev isn't an answer, nationwide system IS)

The people who DON'T know shit, get paid.  Those that understand the truth, are left to rot.  Great system. Some change. 

Fuck you asshole, I'm no racist.  Were you raised by someone who roomed with an African American in college?....In 1951? My parents were even pro jesse jackson and voted for him in the 1984 primary.  I even got to shake his hand in 2004 with the big hubub knowns as the 3rd presidential debate @ASU.  Now, he ain't perfect, but even HE is calling out Obama {not for being less fascist than them...and to make 'fascist tough choices'..but for ignoring REAL social issues...which gasp...needs spending}, for being a fucking tard. His son too. 

Fuck Obama, he's THE RACIST, not against whites, but HIS OWN KIND.  Never in my life would I ever have thought to say, that the african americans are being SHAFTed, by an AFRICAN AMERICAN president, who really doesn't give a fuck about them, or anyone. Seriously, you can't make this shit up.  But there Obama goes, forgetting his own.  Forgetting Haiti.  Forgetting everything, maybe because toots was a bankster? Yep.  It doesn't matter what color or creed you are, it's how you think or refusal to, that matters.  Obama is a dullard.  No imagination, no spirit, and definitely nothing from the wellspring that screams 'american idealism'.  Just british monetarism.  That's his wellspring.

Since I live in Airzona, it's the hispanics.  Guess what, I love hispanics, and I always make sure to treat my local mexican nationals with the respect a human deserves.  A thank you, a nod, holding the elevator open, etc.  Funny thing, when I think about it, most hispanics here illegally are more American in spirit than some that are born here.  I'm sure they wouldn't go for all this Queen of England monetarism you be sporting.  Right there, they're more american THEN you!

Nothing I espouse has anything to do with being racist.  Nothing HERE has anything to do with racism. What part of silver going up is racist? Unless we have some Silver-Americans living out back and using separate facilities that I don't know about. (and if people want to point to certain ethnicities and banks/usury...I could care's happenstance, and the main point, as always is the banks/ who care's about criticizing someone for bringing it up??? only idiots turn themselves off because they hear that....I call those people, weaklings)

Some people are fucking idiots.  Others can only look up to them.  You, have to kneel to the 'others'.  Remember to wipe your chin when they're finished, and don't forget to swallow.  You sure already have swallowed at least one big one.

Did you know? Guzzling bankster cum causes mental sloth. Wake up, and quit being the banksters jizz-guzzling cum Obama.


StychoKiller's picture

Libertarian != Christian Fundamentalist

Blythes Master's picture

This is old news. 2010.

The mint never mints coins with previous dates, thus old news.

Move along now. Nothing to see here.

Millivanilli's picture

Silver ladeeeeeez!

BrianOFlanagan's picture

Tyler, this is like the 5th time you reported this.  The news is from last year and is regarding the "uncirculated" Eagles, not the "Bullion" eagles.  Bullion eagles are still being produced.

This hyping of silver is getting out of control.

SheepDog-One's picture

Thanks for your post, Mr Bernanke!

BrianOFlanagan's picture

silver has every fundamental reason to keep going up.  Repeated posts of misinformation is not necessary to the cause.  Why is sticking to the facts and reasoned analysis anathema to most silver bulls?

flaunt's picture

I tend to agree.  I think people just read the headline and then repeat it.  Clearly there are supply problems without embellishing the facts.


BrianOFlanagan's picture

indeed - that is the real story that should be reported.  Silver eagle dealer inventories are clearly low and premiums are being jacked up.  There is no questioning that there is a shortage of physical silver right now.

NotApplicable's picture

Premiums rise in order to meet demand. Nothing is being jacked-up, as you either take the best asking price you can find or you exercise your preference for currency. Add to that the comex price suppression, and it becomes clear that the premium variance is the main  thing maintaining any physical market (though less so now with the price breaking out).

In the 2008 crash, premiums went up to $5-$6 as physical was almost impossible to find at the discounted paper price.

Sean7k's picture

True Tyler, if they were to cancel the minting of regular bullion eagles or eagle proofs- this would be news, but they haven't yet. Harvey did report that 3 million of the eagles purchased last month were for a single buyer (China?)- this is interesting news.

Kaiser Sousa's picture

"This hyping of silver is getting out of control."..

as evidenced by the escalating demand for and the rising "value" of real money...

u left that out...

Sudden Debt's picture

and even if silver would be a bubble....




I can't wait untill the time thenewspapers say: SILVER AT A ALL TIME RECORD!!!

SilverRhino's picture

That would be $810 an ounce looking at the 600 year chart. Or if we go back to Egypt, gold and silver would be at parity.

lieutenantjohnchard's picture

i go to the mint site daily but can't queue up a purchase for eagles. went there this morning and no luck queueing up an order under the american eagles.

do you mean buffalo coins ($1660) when you say bullion eagles? if not, where at the site are the bullion eagles?

Misstrial's picture

Hope I am understanding your question here; to clarify, Eagles are bullion coin. The official bullion coin of the United States. Bullion in coin form.

Hope I am being understood here.

You could order from the Mint, however at this point in time, Monex or Gainesville have the Eagles. 

Buffaloes have a higher gold content than the Eagles (24k v. 22k), that's why they are more expensive. Not the same coin as the Eagle. 


lieutenantjohnchard's picture

very helpful actually. what i'm gathering is that the big dealers buy the majority of the allotment, mark it up and then sell it to the public as middleman.

thanks for the follow up.

lieutenantjohnchard's picture

also, i wasn't aware the beefaloes had more gold than the eagles. that does explain the higher cost.

Misstrial's picture

Correct.  Buffaloes are a beautiful coin with the higher gold content. 

More yellow in color. I own 2 Buffalo nusimatics and now each are worth $2600+.


lieutenantjohnchard's picture

what i've learned here is a good reminder for what seems to be a pattern for me. i assumed wrongly that the lesser coin was the buffalo, with a higher markup for numismatic collectors, when in fact it may be numismatic but it has more gold.

it's like the man said, or something similar. it's what you think you know to be true that isn't that's the problem. that's me in spades.

it pays to listen and ask questions.

Misstrial's picture

Due to the higher gold content, buffaloes are the more expensive coin and have been for some time. 

imo, its a more beautiful coin with the more yellow color and it is more polished than the Eagle. Its simply lustrous; the pics do not do it justice.


Thisson's picture

I am not sure you are correct.  I believe both the 22k and 24k coins contain 1 troy ounce of gold.  The 22k coin has additional silver and copper mixed in so it is a bit harder, less scratch-resistant, etc (this also changes the color of the coin).  The 22k coin therefore has a total weight (1.0909 troy oz) that is a bit higher than the 24k coin (1.0001 troy oz).

Misstrial's picture

I am correct because the difference (22k v. 24k) is in alloy, hence the price differential:


Misstrial's picture

Yes, although markup (commishs) will differ from one dealer to the next. Best thing is to call around since sometimes they will not give you this info on their site.

There is a coin premium though, not to be confused with sales commissions;

For gold coins (1 oz) the coin premium is about $20 over spot and silver is about $1-2 over spot, not including sales commissions. The idea being that trade in coin form is more convenient and recognizeable as currency as opposed to a bullion bar (and not to knock bullion bar or brick - a physician or dentist or surgeon wouldn't take issue with that form). There is the cost of assaying the gold content, minting/stamping/production etc. All of that is factored into the cost of a coin.

And wanted to note here that a bar for a 1 oz is about the size of a credit card with about the same thinness. So its not like its inconvenient or anything. Good thing about the bars is that they are cheaper because you're not paying a coin premium. is very good and will actually refund you the price difference if the spot price falls at any time following your purchase for two weeks. No minimum.

Some dealers have minimums such as Monex (used to be $8k, then $5k), Schiff has a $20k minimum. Gainesville has no minimum. Not sure about apmex - never bought from them.


lieutenantjohnchard's picture

i like the gold bar idea as diversification and cost. i'm going to get a bar since i have way more silver than gold. it'll help balance out the holdings.

snakeboat's picture

I'll vouch for APMEX... excellent (personal emails) customer service and no mins that I know of.

Misstrial's picture

OK, thank you for that info. Many ZH'ers have made postive comments about apmex and Gainesville.


JW n FL's picture


Dear Mr. Castellano,


As you know from the below email, our office has the honor and responsibility of representing Ms. XXXXXX.  We would appreciate confirmation as soon as refunded our client in full.  I am at a loss to understand why you required wire instructions when a credit will suffice.


In any regard, please refund the amount in full promptly and be sure to reply to me that same has been completed.


Thank you for your assistance.


Rusty Huseman


William R. Huseman, P.A.

3733 University Blvd. West, Suite 305A

Jacksonville, Florida 32217

(904) 448-5552

Fax (904) 448-5653




Gainesville Coins is a Boiler Room Operation.


Gainesville Coins is NOT a dealer of the US Mint… You will be paying for the extra hand in the deal.


Gainesville Coin did try to screw my Mother.


Use this information however it best suits you.

ft65's picture

Quoting JW n FL / GLP ^TrInIty^ >>Gainesville Coin did try to screw my Mother.

It was not the act that Gainsville coins perpetrated against your mother, that offends me, rather the man who happens to share half your genes.

JW n FL's picture

How come you are not advertising direct links to your web site any more? what happened?

Misstrial's picture

The text of the above letter fails to explain exactly what occurred or if any alleged unethical or illegal activity transpired. 

Sorry your mother had problems with them. How old is she? Has she ever transacted in bullion before? 

From the text of the letter, I can infer that whatever occurred was probably a misunderstanding between the parties which was corrected by a refund. This happens in businesses all the time, and in my view, does not constitute fraud or misrepresentation unless determined in a court of law.

As an aside, I've ordered from Gainesville about 1/2 dozen times and never had a problem.

The metals market is moving faster than it used to and I'm guessing your mother (age 70+ ?) probably did not comprehend the transaction.

This is understandable - perhaps in the future, you will conduct PM transactions for her.