Premiums for 1oz Silver American Eagle Coins Have Significantly Dropped

6:06 AM


July 19, 2016 --Gold and silver prices edged lower on Monday as investors moved a bit more out of safe-haven assets and into stocks. U.S. Ten Year bonds also fell, and the dollar finished flat. The failed coup attempt in Turkey made for big headlines - but apparently didn't weigh too heavily on investors' minds.

The Republican National Convention got underway yesterday, against a backdrop of intra-party tension inside the convention hall and protest and violence around the country. Convention news is likely to dominate media coverage, including the financial press, through the end of the week.

Yesterday brought word of a significant development in silver bullion markets. Deliveries of the U.S. Mint's silver American Eagle 1-ounce coin will no longer be rationed. Record demand for the coin in recent years exceeded the Mint's production capacity. Nearly 50,000,000 ounces were produced and sold in 2015 despite restrictions on the size of orders bullion dealers could place. After 28 weeks of rationing this year, the Mint finally caught up -- and the premiums that investors pay for the coin have fallen significantly.

Live prices at MoneyMetals.com show gold currently trading at $1,331.25 per ounce on the global market, and silver is coming in at $19.96.

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