A Quick Sell Out

After one month and nine days of availability, the 2010 Proof Silver Eagle has sold out at the US Mint. The coins were on the radar of many collectors following the cancellation of the 2009-dated issued, but the quick nature of the sell out may have caught some by surprise.

When the coins went on sale, the US Mint did not state a maximum mintage. With a technically “unlimited” mintage and no signs of stress for the bullion version, a high mintage was expected.

All told, the last reported sales of 834,879 would make for a relatively high mintage, but it’s not as severe as feared.

For next year, the offering might go smoother, following the passage of legislation to allow greater flexibility for the production of collector version of the American Silver Eagle. Previously bullion coins needed to be produced to meet public demand, with no requirement for the minting and issuance of proofs.

The 2011 Proof Silver Eagle could be authorized by the Treasury Secretary even if demand was not being met for bullion coins.

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