BREAKING NEWS: The United States Mint has officially raised their wholesale pricing above spot on American Silver Eagles to all authorized dealers from $1.50 to $2.00, an increase of a whopping 33%. This news comes on the heels of a significant silver spot price rally over the last month to a new thirty year record over $22 per ounce. The impact of this news is significant and has already affected dealer pricing across the country within hours, as prices on Silver American Eagles have jumped over $0.50/oz industry wide.

The year 2010 will go down as a record year for Silver Eagle sales, as the United States Mint has already sold more than 25 million coins year-to-date. See chart below:

This development comes only two days after the US Mint announced it had sold out of 2010 gold American Buffaloes and would cease production for the remainder of the year.

The impact of this rise in premiums will undoubtedly affect the prices of generic silver rounds as well. We will monitor these developments closely, as the rush into silver impacts pricing and availability.

Silver American Eagles: Spot + $2.59

'Til next time, that's my Saab Story.

By Tarek Saab

Website: trustedbullion.com E-mail: tarek@trustedbullion.com

Tarek Saab is an entrepreneur, speaker, and nationally syndicated author. He is the founder of Saab & Company Inc., which owned the online bullion business, Guardian Commodities, before it was acquired by Trusted Bullion in August 2010. An avid precious metals enthusiast, his column, Saab Stories, is published on this site and syndicated on many others.

Tarek rose to fame as a popular contestant on Season Five of The Apprentice with Donald Trump. He has been prominently featured in such magazines as Us Weekly, TV Guide, People, Enigma, In Touch Weekly, The Dallas Business Journal, The Fort Worth Business Journal, Digital Gold Currency Magazine, The Mensa Bulletin and numerous other print and online publications.

© 2010 Copyright Tarek Saab - All Rights Reserved
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