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This Week's Letters (4/4/08)

Demand is outstripping supply for 2008 silver American Eagles. Have you been affected by this shortage?
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From the April 4 Numismatic News E-Newsletter:

Demand is outstripping supply for 2008 silver American Eagles. Have you been affected by this shortage?

I went to purchase my usual American Silver Eagles and was told they were sold out. I try to buy 100 to 200 coins a year. I am sure the Mint will resume distribution. They fall behind. Isn?t that their
usual MO?

Charles Bershatsky
New York, N.Y.

My whole case of sealed of (500) 2008 eagles are in the bank where they will stay. Did I do something right for a change?

Douglas Ivey
Mcalester, Okla.

I purchased my 2008 Eagles early so I wasn?t aware of any shortage.

Roland C. Gauvin
Cumberland, R.I.

Yes. What happened to all the 2008 silver Eagles? Everyone I call either in short supply or too high price, getting like gasoline with there price gouging, maybe when silver hits 25.00 then they will be plentiful.

William Yanosh
 Albany, Ga.

I have been told by two dealers that they stopped taking orders because the Mint had temporarily stopped selling them with the wild market swings. I do not know if that was true or not. I?d like to know. Perhaps many bullion buyers in this country want there lucky year coins? When the price dropped from $21 plus an ounce to under $17 it seems like the window closed. I?ve been trying to get them for a week now, but no luck. I had not tried mail order companies as I?d rather not pay for shipping.

Neil Osina
Glendora, Calif.

Got my NGC MS 70-69 silver Eagles in February from a great Web coin dealer, My proof PF-70 is on the way! Thanks for the survey!

Mickey L. Smith

I see in Numismatic News quite a few ads for silver Eagles but at a very high price. I suspect people are hoarding them hoping to make a killing if silver continues to rise.

Harold Plucienik
Chicago Heights, Ill.

Greetings. My take on the supply/demand equation for silver Eagles in 2008 is that no doubt it was affected early on by the high price of the metal, causing either a reduction in output, or more likely, a pattern of hoarding by those of us who did purchase at the inflated price (circa February 2008).

Charles K. Miller
Havertown, Pa.

I have had very little trouble in procuring the silver Eagles I wanted, admittedly I had difficulty obtaining a new roll, but was able to buy a roll of mixed dates, 14 ?03s and six ?08s, to complete my roll. However at our recent coin show last weekend, which drew about 30 plus dealers, the silver Eagles for ?08 were more then plentiful, as were reals (pillar dollars), Morgans, commemoratives and just about everything one could possibly want in silver. The show started Saturday and at the close on Sunday a good three-quarters of the dealers were still present and making deals.

Kevin Brady-Jones
Eugene, Ore.

I got a couple myself. Picked them up at a coin show in Salt Lake City.

Collin Cagle
West Jordan, Utah

I have gotten my Proof and W uncir 2008 from the mint and I have gotten a number BU from my favorite distributors as they came available. So no, I haven?t had any problems so far this year. Just the first spouse coins are getting a little out of reach.

Kyle Stromgren
Yelm, Wash.

No. I don?t collect anything later than the early 1900s in silver.

Ludy E. Langer
Sacramento, Calif.