Ordering Limit Removed for 2011 Proof Silver Eagles
Effective Friday, July 15, 2011, the United States Mint removed the ordering limits for the 2011 Proof American Silver Eagle.
When the product first went on sale June 30, 2011, an ordering limit of 100 coins per household was in place. The Mint indicated that after the first week of sales, the limit would be re-evaluated and either extended, adjusted, or removed. The removal of the limit comes after the second week.
Through July 3, the US Mint had reported sales of 367,623 of the 2011 Proof Silver Eagles. In the next full week of availability, the pace of sales had declined. Another 40,368 coins were sold to bring total sales to 407,991. The next report of sales should be available tomorrow.
Last year, the ordering limit for the 2010 Proof Silver Eagle had also been removed after two weeks. Initial sales figures came in at a suspiciously low 273,212. No sales report was issued the following week. For the third week, total sales of 707,704 were reported.
Barring any unforeseen developments, the 2011 Proof Silver Eagles should remain available until very late in the current year, if not into the following year. The coins are priced at $59.95 based on a market silver price of $37.50 per ounce.
Labels: Silver Eagles