Weekly Silver Prices Fall 4.5% in New York, 5.6% in London

Silver struggled as prices plummeted early in the week and never recovered. The drop marked a third straight week of declines which follow silver’s massive May surge.

New York silver futures for July delivery slid Friday to $14.20 an ounce — a free fall of 67.5 cents, or 4.5 percent on the week.

London silver shifted 4 cents higher on Friday to $14.23 an ounce. The metal, however, was hit harder than in New York as it dropped 84 cents, or 5.6 percent on the week. Read More…

US Silver Coin Sales: Silver Sets Decline, Braille Dollars Rise

The newest Mint sales figures show Braille Silver Dollars rising and silver sets declining, a 180-degree reversal compared to the prior week’s numbers. Read More…

US Mint Ends Silver Eagle Rationing Policy

The US Mint announced on Monday an end to the Gold and Silver American Eagle bullion rationing policy that was instituted in April 2008.

This is great news for those interested in the bullion coins as premiums should ease further, but it could be of even greater interest to those waiting for the collector Silver American Eagle Proof and Uncirculated coins.

In a memo to bullion authorized purchasers, the Mint stated in part:

Effective immediately, the United States is lifting the allocation process. You may place your orders under the standard ordering procedures. The ordering minimum and incremental quantities apply.

Required by law to produce the bullion coins "in quantities sufficient to meet public demand", the Mint was forced to suspend production of collector 2009 Silver Eagle Proof and Uncirculated coins to divert blanks for bullion silver coins.

With silver eagle bullion sales at record levels (albeit with some slowdown in May), the end of the allocation policy has come as a bit of a surprise. Through June 17, the Mint has sold 13,024,500 of the coins. If they keep that pace up, it will be the best year since the Silver Eagle bullion’s introduction in 1986.

As already mentioned, this change of policy could be great news for collectors of Silver American Eagle Proof and Uncirculated coins. It now seems likely the Mint may begin striking them sooner instead of much later in the year. It should be noted, however, that the Mint has made no official statement on the likelihood of this occurring.

2009 Canadian Maple Leaf Silver Coin

Unmatched by purity, an elegant design and sought after by many, the Canadian Silver Maple Leaf is a unique bullion coin that has been around since 1988. Read More…

Weekly Silver Prices Tumble 3.3% in New York, 3.7% in London

Silver prices turned lower to mark a second weekly negative trend following the metal’s monstrous May surge.

New York silver futures for July delivery plunged to close Friday at $14.875 an ounce, tumbling 51.3 cents or 3.3 percent on the week.

Silver’s picture in London was similar. London spot silver closed Friday at $15.07 an ounce, plunging 58 cents or 3.7 percent on the week. Read More…

US Silver Coin Sales: Braille Dollars Retreat, Silver Sets Rise – June 10

The latest US Mint sales stats show renewed interest in silver coins and sets, with the exception of Braille Silver Dollars. Read More…

1.9 Million Silver Eagle Bullion Coins Sold in May

Sales of 2009 American Eagle Silver Bullion Coins were exceptionally strong in May. The silver coins continue their pace for a blowout, record performing year — potentially the best since the series began in 1986. Read More…

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