The United States Mint has informed their network of authorized purchasers that they have temporarily sold out of American Silver Eagle bullion coins, citing the “tremendous demand” experienced over the last several weeks.
During October, the Mint had recorded sales of 5,790,000 of the one ounce silver bullion coins, representing the highest monthly sales total since January 2013.
According to the latest information posted on their website, the Mint has recorded sales of 1,055,000 Silver Eagle bullion coins. The recent strong demand has pushed year to date sales to 39,096,000, approaching the all time annual sales record of 42,675,000 established last year.
At this time the US Mint is continuing to strike 2014-dated coins and indicated that authorized purchasers would be informed when additional inventory is available for sale. The Mint did not provide a specific date or time frame when sales would resume.
Over the past several years, sales of the popular silver bullion coins have been periodically interrupted by temporary sell outs. A temporary sell out had occurred on January 17, 2013 shortly after the launch of the 2013-dated coins. Sales were resumed eleven days later on January 28, 2013.
Silver Eagle bullion coins were also unavailable for a lengthy period between the final sales date for the 2013-dated coins and the release of the 2014-dated coins. The final allocation of 2013-dated coins occurred on December 9, 2013 with the 2014-dated coins not available until more than a month later on January 13, 2014.
In addition to the interruptions in availability, Silver Eagles have more frequently been subject to an allocation program which limited the number of coins that authorized purchasers could order. The last time the allocation program was put into place, it lasted for more than sixteen months.