NEW YORK (Reuters) - The U.S. Mint said on Tuesday that it would stop making 2015-dated American Eagle silver bullion coins after the week of Dec. 7 following a period of strong demand that forced it to place them on weekly allocations for much of the year.
The annual halt to American Eagle silver coin production will come after an unprecedented supply squeeze spurred by spot silver prices that tumbled to a six-year low in July and then extended losses in November. This attracted heavy coin demand that forced some sovereign mints around the world to ration sales while U.S. buyers raced abroad to fulfill this burst of interest.
The mint said in an email that it expected the last American Eagle silver bullion coin allocation for 2015 to be on Dec. 14.
Despite the weekly rationing, American Eagle silver coin sales this year have so far reached nearly 43.7 million ounces, making them on track to exceed the 44 million ounces of 2014.
The mint already stopped producing 2015-dated American Eagle gold bullion coins in October and has sold out of this year’s supply of the 0.1-ounce and 0.25-ounce coins.
The mint said in an email that it would begin taking orders for 2016 American Eagle silver bullion coins on Jan. 11.
Reporting by Marcy Nicholson; Editing by Chris Reese and Lisa Von Ahn