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Bullion coin supply up, premiums down

The U.S. Mint is catching up with demand for its one-ounce gold and silver American Eagle coins if the market experience of Greencastle, Ind., wholesaler Julian Jarvis is any guide.

Jarvis noted in an April 30 Coin Chat Radio interview that there no longer is a two- or three-week wait for delivery for the coins, and prices are coming down as well.

At the peak of the shortage, Jarvis said the premium over silver bullion value was $4.50 per ounce. It has receded to a current $3 an ounce, though Jarvis said before the shortage occurred the normal premium that he had worked with was $1.65 to $1.75 per one-ounce silver American Eagle.

Premiums for the gold coins have come down even more. Jarvis said the 7 percent premium he was working with is now 4.5 percent.

Not only was the U.S. Mint catching up with deliveries, Jarvis said supplies of the Canadian Maple Leaf were also up.

In another part of his business, he was noting that the price of a roll of BU Log Cabin Lincoln cents has now dropped to $2 each and he expected it to hit $1.

District of Columbia quarters are still difficult to get, he said, and nickels and dimes of 2009 are getting so scarce because the Mint probably won’t make anymore that he can’t accept orders.

Coin Chat Radio can be found online at www.coinchatradio.com. A new program is posted at 11 a.m. Central Daylight Time each week and it repeats at the top of each hour.

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