US MINT ALERTS PRIMARY DEALERS SILVER EAGLE PRODUCTION TO BE HALTED FOR 4 WEEKS!

SDBullion has learned from industry contacts that the US Mint alerted its Primary Dealers Thursday that The Mint is halting its weekly allocation of 2013 Silver Eagles, and will be suspending all sales of ASEs for 4 weeks!

*Updated 2:30pm EST: Silver Eagle shortage already underway as primary dealer wholesalers have taken the rare step of raising ASE prices intra-day on a Friday.

“The United States Mint will issue its last weekly allocation of 2013 dated American Eagle Silver Bullion coins on Monday, December 9, 2013. We will begin accepting orders for 2014 dated American Eagle Silver Bullion coins on Monday, January 13, 2014.”

At the end of 2012, the Mint also took the unusual step of halting sales of 2012 Eagles on December 20th through the first week of January, which resulted in large premium spikes of ASEs as a shortage developed. The resulting supply squeeze in Silver Eagles also resulted in a tightening of other official mint products (Maples and Philharmonics) as well as generic silver rounds and bars as Silver Eagle demand was forced into other products.

With silver spot prices nearly 50% lower than 2012 levels, and the Mint shutting down production 11 days earlier this year (December 9th), expect physical premiums on ASEs to jump significantly over the next 2-3 months.

We will continue selling 2013 Silver Eagles as low as $2.69 over spot at SDBullion as long as we can, but suppliers are warning that significant premium increases are imminent.
-Doc

*Updated 2:30pm EST: Silver Eagle shortage already underway as primary dealer wholesalers have taken the rare step of raising ASE prices intra-day on a Friday. This is extremely rare and likely indicates further price increases will occur Monday as the wholesalers complete their weekly price meetings on Monday morning.