U.S. Mint Ramps Up Allocation of Silver Maple Leaf Coins

The sale of Silver Coins at the U.S. Mint has received a major boost in the first week of the new year, as the mint has increased the allocation of silver by a factor of four inflated. The mint is now allowed to produce 4 million silver coins per week, whereas last year it was limited to one million per week.

Due to the extra allocation of silver, the mint can mint many more coins than last year. In the first week of the new year, 2.76 million Silver Eagle Coins about half of the total production in the month of January last year. If the mint continues to mint coins at the same high rate for the rest of this month, production could reach 10 million coins in one month.

In the second half of last year, the US Mint had to limit the production of coins to a maximum of 1 million per week, because there was not enough silver to be supplied in the short term. Demand for the coins exploded when the Silver Price reached its lowest level in almost six years.

Silver coins popular

The US Mint's silver coins are popular because of their relatively low premium and good worldwide availability. Of all the mints, the American mint produces by far the most pure silver investment coins. Due to the increased demand for the Silver Eagle coins, the mint was able to achieve a Record number of 47 million coins to sell.

It wasn't just the U.S. mint that struggled to meet demand last year. This year, mints will have to further expand their production to meet the high demand. Because the price of silver is so low, investors get more coins for the same money, which results in significantly larger volumes of coins.

Gold Coins

The gold coins were also sought after by investors. Worries about a new global crisis are driving up demand for the precious metal. The U.S. mint sold 60,000 troy ounces of gold Eagle coins in the first week of the year, compared to 81,000 in the entire month of January last year. Gold confirmed its status as a safe haven, because when the stock markets fell so hard at the beginning of this year, gold immediately became more valuable.