Thursday , 09 May 2013(Reuters) -
The U.S. Mint will limit dealers' purchases of its "America the Beautiful" five-ounce silver bullion coins when they go on sale next week, reflecting soaring physical demand after a sharp selloff in precious metals.
The mint has been allocating sales of its more popular American Eagle silver bullion coins to its authorized dealers since late January following a brief suspension.
The surge in demand following gold's plunge to two-year lows and a selloff in silver in mid-April have forced the U.S. Mint, one of the world's leading gold and silver coin producers, to limit precious metal coin sales.
On April 23, the mint said it had suspended sales of its one-tenth ounce American Eagle gold bullion coins as demand depleted the government's inventory.
The mint limits coin sales from time to time as it runs out of coin blanks to meet increases in demand.
When "America the Beautiful" coin sales begin on May 13, the mint will distribute half of its inventory equally between its authorized dealers, and the other half based on each dealer's volume of "America the Beautiful" coin sales in the last two years, it said on Wednesday.
The allocation process will remain in place until the mint can boost inventory to meet demand, it said.
This is a perfect example of a mindless post in response to a fact filled post. Note that Pio did not offer his opinion, he simply posted a Reuters story. Note the mindless drivel absent all fact in the counter attack to Pio's post. In other posts this individual accuses Pio of posting BS. He believes that by saying that Pio's posts are BS will in some way make the reader disregard the fact that this is a Reuters published story and not some IMHO post. I am placing this poster on ignore as he has proven beyond any doubt that he does not have anything worthwhile to say.
One would expect that the drop in prices would not be accompanied by this kind of demand. It gets curiouser and curiouser as Alice would say. Wonder what sort of premium my dealer is charging on 1 ounce silver rounds. Time to buy a hundred or so I think.