Silver Shortages Impact US Mint Production
As demand for bullion products and numismatic collectibles continues to grow, the US Mint has struggled to offer a steady supply. Just last week on Friday, May 28, the US Mint released a message stating that it was experiencing a shortage of silver, specifically in regard to the blank planchets required to strike coins.
After being mined and purified into bullion, silver is turned into planchets and then struck into coinage. While in the past the US Mint handled planchet production in-house, the Mint currently relies on outside suppliers. However, as demand continues to outpace the supply of these planchets, it has become increasingly more difficult to acquire silver coinage.
This lack of silver has severely throttled the production and availability of certain coins, such as the ever-popular American Silver Eagle. At a time when there has never been more people interested in acquiring silver coins, suppliers of planchets are struggling to keep pace due to their numerous contracts with private businesses and mints around the world. Effectively, the demand for planchets is so high that mints are unable to acquire enough for their own needs.
The small profit margins earned by metal fabricators is another compounding issue that severely limits the number of businesses that are willing to produce planchets. A high demand from various sources, combined with a low supply, has made it exponentially harder to acquire the raw materials needed to produce numismatic and bullion coins. In turn, this has made it challenging for collectors to find the new coins they seek at affordable prices.
While the current supply of numismatic silver coins remains unpredictable, Rare Collectibles TV has taken precautions in order to provide our customers with the finest collectibles at collector-friendly prices. Our vast numismatic network ensures that while the supply of these coins may be uncertain, we will be able to offer a full range of upcoming collectibles. Among these coins are the highly anticipated 2021 Morgan Dollar and Peace Dollar issues, as well as the upcoming Type 2 American Silver Eagles in both Proof and Mint State. Make sure to keep checking back with RCTV to guarantee your acquisition of these historic new releases.