U.S. Mint runs out of 2013 Silver Dollars: Booming economy or PR stunt?

HOUSTON, TX – You’ve heard the saying, “Cross my palm with silver.”  Well, this year that could prove difficult.

Just a few weeks into the year and the U.S. Mint has already run out of 2013 American Eagle Silver Dollars.

How, you ask? We took the question to the experts at U.S. Coins, a Houston-based business in the Memorial area.

“They run out, obviously, because of the demand of the coin,” said manager Kenny Duncan, Jr.

Well, duh! But what is it about this coin that’s been such a draw?

In addition to it being part of a collectible set, Duncan said, “I think that people want some hard assets that they can take home and put in their safe. They wanna get out of the paper, get out of the futures, get out of the stocks, and wanna be able to put something at home… something that they can trade.”

Or maybe this whole silver dollar thing is just the U.S. trying to get a little positive buzz going, like, “Look how the demand of silver’s goin’ up– our economy’s booming!!”

Bloomberg’s predicting silver prices will soar 27% this year, so that might be true. But if not, it won’t be the end of the world…or will it?

“With this end of the world Mayan calendar thing, do you know how many people bought silver for that purpose?” Duncan said. “The store was full.”

“Silver Eagle (coins), if anything, are a great hedge against the economy,” according to Kenny’s brother Matt who manages the family business with him.

Some ebay dealers are getting up to $80 for the 2013 Silver Eagles. But Kenny warns to beware of those “collectible” prices, “Just because right now the ’13’s are a little backed up, it doesn’t mean that’s all they’re gonna mint. They will mint more.”

And even if they don’t, the coins are available right here in town. “If you wanted to get a 2013 American Silver Eagle, you could come into U.S. Coins and buy this coin for $36.” That’s just a few bucks above the current price of an ounce of silver ($32.29 when this story was written).

So, buy now or buy later… when it comes to the 2013 American silver dollar– it seems it’s just two sides of the same coin.

Filed in: NewsFix

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