(Corrects last paragraph to make clear that silver proof coins,
not silver bullion coins, fetch $63)
NEW YORK Jan 17 U.S. Mint has suspended sales
of its 2013 American Eagle silver bullion coins after running
out of stock due to soaring investor demand for the newly minted
coins in the first two weeks of the year.
Sales to authorized dealers will resume on or about the week
of Jan. 28 after the U.S. Mint has replenished its inventory, it
said in an email to authorized dealers on Thursday. The coins
are produced at the Mint's West Point, New York, facility.
While it is typical for collectors to snap up newly stamped
coins, interest this year has ballooned due to investors seeking
refuge from U.S. economic uncertainty.
Silver Eagle sales to Jan. 15 exceeded 5 million ounces and
were on track to surpass the all-time monthly high of 6.1
million ounces, set in January 2012.
Physical coin sales had risen in the final months of 2012 as
investors protected their nest eggs from a feared U.S.
recession. Many economists predicted a U.S. economic downturn
would occur if Congress and the White House did not act to stop
pending huge tax hikes and automatic spending cuts known as the
It is not the first time the Mint has faced a run on its
stock. It started allocating sales to authorized dealers in
recent years after its supplies were depleted by unprecedented
The Mint on Jan. 24 is due to start taking orders from the
general public for silver proof coins, which fetch just under
$63 each and are aimed at collectors.
(Reporting By Josephine Mason; Editing by Gary Hill and Steve