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Eagle Rationing Gets Tighter
June 06, 2008

I just received a copy of a letter being sent to the Mint's authorized purchasers of silver American Eagles. The tight supply situation continues and will get even tighter next week. Text of the letter follows:

June 6, 2008


FROM: Cathy Laperle
Team Lead, Bullion Program
United States Mint

SUBJECT: American Eagle Silver Bullion Coin Update

The United States Mint has been informed by its silver blank vendors that the volume of blanks they will be shipping to us in the coming weeks will be significantly reduced. Specifically, the quantities they will ship to us during the week of June 9 are expected to be less than half the quantities they shipped to us during the week of June 2. Our vendors, however, expect to be able to make incremental increases in supplies each week thereafter. In the mean time, the significant reduction in the number of blanks they supply to us will, of course, directly affect the quantity of coins we can make available for allocation to our Authorized Purchasers. Accordingly, the United States Mint will continue allocating American Eagle Silver Bullion Coins per the process initiated on April 21, 2008.

As you know, in the first six months of 2008 production, the United States Mint produced more American Eagle Silver Bullion Coins (10.07 million) than we did during the entire 12-month period of 2007 (9.03 million). The United States Mint stands ready to continue this high level of production as additional blanks become available from our suppliers.

The United States Mint is making every effort to increase its acquisition of silver bullion blanks that meet the specifications and requirements of the law. In our efforts to meet unprecedented demand, the United States Mint is again preparing a request for proposals (RFP) for additional silver blank suppliers. Additionally, we are not using incoming supplies of silver blanks to produce numismatic versions of these coins (American Eagle Silver Proof and Uncirculated Coins); all incoming inventory is being used solely for silver bullion coins during this reduced supply period.

Thank you for your patience and your continued support of the United States Mint American Eagle Silver Bullion Coin Program.

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About the Author
David C. Harper has been a coin collector since 1963. He joined the Krause Publications editorial staff in 1978 and is currently editor of Numismatic News and World Coin News. He also edits two books annually, North American Coins & Prices and Coin Digest. He is the author of the Class of '63 column that runs each week in Numismatic News. His first bylined numismatic article appeared in the June 1971 issue of Coins Magazine and his various Krause Publications assignments included a stint as editor of the magazine 1980-1983. Harper received a bachelor of science degree from the University of Wisconsin-Oshkosh in 1977. He had a double major of journalism and economics.

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