SILVER ALERT: Geithner Panics and Shuts Down Silver Eagle Supply
So word is flying around about how the US Mint has stopped shipping Silver Eagles. Here’s the story:
US Mint Sold Out of Silver Eagles
“Authorized purchasers will be faced with a three week period during which there will be no American Silver Eagle bullion coins available to order from the United States Mint.”
“The Mint recently informed authorized purchasers that all remaining inventories of 2012-dated Silver Eagle bullion coins had sold out and no additional coins would be struck. Since the 2013-dated coins will not be available to order until January 7, 2013, this leaves a three week void for the Mint’s most popular bullion offering.”
This is not the first time that the US Mint has either stopped producing the Silver Eagle or tried to ration them when they ran out of silver blanks but it is the first time that IT MAY NOT BE ILLEGAL!
I have written many letters to the US Mint over the years pointing out that they were in violation of the law by stopping production and they continually scrambled to find some convenient excuse but it never trumped the law stating the they were to mint coins in “quantities sufficient to meet public demand”.