Eagle rationing gets tighter

I just received a copy of a letter being sent to the Mint's authorized purchasers of silver American Eagles. The tight supply situation continues and will get even tighter next week. Text of the letter follows:

June 6, 2008

MEMORANDUM TO ALL AMERICAN EAGLE AUTHORIZED PURCHASERS

FROM: Cathy Laperle
Team Lead, Bullion Program
United States Mint

SUBJECT: American Eagle Silver Bullion Coin Update

The United States Mint has been informed by its silver blank vendors
that the volume of blanks they will be shipping to us in the coming
weeks will be significantly reduced. Specifically, the quantities they
will ship to us during the week of June 9 are expected to be less than
half the quantities they shipped to us during the week of June 2. Our
vendors, however, expect to be able to make incremental increases in
supplies each week thereafter. In the mean time, the significant
reduction in the number of blanks they supply to us will, of course,
directly affect the quantity of coins we can make available for
allocation to our Authorized Purchasers. Accordingly, the United States
Mint will continue allocating American Eagle Silver Bullion Coins per
the process initiated on April 21, 2008.

As you know, in the first six months of 2008 production, the United
States Mint produced more American Eagle Silver Bullion Coins (10.07
million) than we did during the entire 12-month period of 2007 (9.03
million). The United States Mint stands ready to continue this high
level of production as additional blanks become available from our
suppliers.

The United States Mint is making every effort to increase its
acquisition of silver bullion blanks that meet the specifications and
requirements of the law. In our efforts to meet unprecedented demand,
the United States Mint is again preparing a request for proposals (RFP)
for additional silver blank suppliers. Additionally, we are not using
incoming supplies of silver blanks to produce numismatic versions of
these coins (American Eagle Silver Proof and Uncirculated Coins); all
incoming inventory is being used solely for silver bullion coins during
this reduced supply period.

Thank you for your patience and your continued support of the United
States Mint American Eagle Silver Bullion Coin Program.