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US Mint limits purchases of new silver coin

May 09, 2013

The US Mint has come out with a new 5 oz. silver coin. But even before sales begin on May 13, the demand already exceeds supply. So the Mint is rationing their sales.

May 8 (Reuters) - The 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.

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. (Reporting by Frank Tang; Editing by Phil Berlowitz)


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Category: Financial

Dr. Stephen Jones

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