Monday, May 13, 2013

US Mint to Limit Purchases of "America the Beautiful" Silver Coins

he U.S. Mint will limit dealers' purchases of its "America the Beautiful" five-ounce silver bullion coins when they go on sale next week because strong demand exceeds the mint's inventory, reports Reuters.

The mint has been allocating sales of its more popular American Eagle silver bullion coins to its authorized dealers since late January following a brief suspension.

When "America the Beautiful" coin sales begin on May 13, the mint will distribute half of its inventory equally between its authorized dealers, and the other half based on each dealer's volume of "America the Beautiful" coin sales in the last two years, it said on Wednesday.

As traders liquidate both gold and silver positions, the metals are being accumulated by stronger hands, individual buyers of gold and silver around the world, in China, India and the U.S.

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