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United States Mint Clarifies Statement Regarding Silver Supply Shortage

United States Mint Clarifies Statement Regarding Silver Supply Shortage

In a message released Friday, May 28 [The message was released late Thursday, May 27.CoinWeek], we made reference to a global shortage of silver. In more precise terms, the silver shortage being experienced by the United States Mint pertains only to the supply of silver blanks among Mint suppliers.

Please see the updated message below reflecting this clarification.

The United States Mint is committed to providing the best possible online experience to its customers. The Mint is being impacted by silver blank shortages among its suppliers. The demand for many of our bullion and numismatic products is at record heights and increasingly outpacing the supply of silver blanks available through our suppliers. This level of demand is felt most acutely by the Mint during the initial product release of numismatic items. Most recently in the pre-order window for 2021 Morgan Silver Dollars with Carson City privy mark (21XC) and New Orleans privy mark (21XD), the extraordinary volume of web traffic caused significant numbers of Mint customers to experience website anomalies that resulted in their inability to complete transactions.

In the interest of properly rectifying the situation, the Mint is postponing the pre-order windows for the remaining 2021 Morgan and Peace silver dollars that were originally scheduled for June 1 (Morgan Dollars struck at Denver (21XG) and San Francisco (21XF)) and June 7 (Morgan Dollar struck at Philadelphia (21XE) and the Peace Dollar (21XH)).

While inconvenient to many, this deliberate delay will give the Mint the time necessary to obtain web traffic management tools to enhance the user experience. As demand remains greater than supply, the reality is that not everyone will be able to purchase a coin. However, we are confident that during the postponement, we will be able to greatly improve on our ability to deliver the utmost positive U.S. Mint experience that our customers deserve. We will announce revised pre-order launch dates as soon as possible.

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About the United States Mint

usmintThe US Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation’s sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.

The United States Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. The Mint’s numismatic programs are self-sustaining and operate at no cost to taxpayers.

United States Mint
United States Minthttps://www.usmint.gov/
Since Congress created the United States Mint on April 2, 1792, the primary mission of the Mint is to produce an adequate volume of circulating coinage for the nation. As a self-funded agency, the United States Mint turns revenues beyond its operating expenses over to the General Fund of the Treasury. Other responsibilities include: Maintaining physical custody and protection of the Nation's $100 billion of U.S. gold and silver assets; Manufacturing and selling platinum, gold, and silver bullion coins; and Overseeing production facilities in Denver, Philadelphia, San Francisco, and West Point, as well as the U.S. Bullion Depository at Fort Knox, Kentucky.

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  1. Inform your disadvantaged customers holding on the line for hours listening to repetitive automation that they have memorized. And not once, is this postponement mentioned. Imagine how they feel after finally being relieved to hear a live voice only to be let down again when the whole call could have been eliminated. That would decrease your high call volume by 90%.

  2. I would like to thank the people at the U.S. mint for trying to make the computer system better. With low mintage coins it is imperative that you lower the limit of coins customers can purchase to 1 or 2 coins so that collectors can get a coin and be happy and stop flippers from ruining that happiness collectors get from their hobby. Purchasing 10 to 25 coins on low mintage coins is downright dumb to be kind. Please make that policy. From your friend. Mr. Brent Hardenburg.

  3. “Not everyone will be able to purchase a coin “ this is absurd business practice to the public and numismatic collectors ! How many coins were minted for JFK 400 million ? The public was very satisfied with this part of history all Americans were able to purchase .We the people suggest you do what’s right and make it available to all Americans , again forget about making low mintages and making them rare coins because of ! History in the making should be available to all people at will ,no excuses . You back up the internet because of these low mintages just like a simple congratulations set and other sets .Why don’t you plan properly till you have enough silver before taking early orders . And what about the new design ( reverse) for the silver eagle is that going to be a problem also . US mint get your priorities right and stop making silly excuses!!! Upset collector !!!Please !!!

  4. I agree with Brent and Stan. I only want one or 2 coins, uncirculated, and not have to buy 50 or 60 (roll), and not proof. Kids can’t afford to get newer coins. All you are doing is making to the dealers richer.

    • They should not have been propagating the myth that there is an actual silver shortage anywhere. The apparent “shortage” is caused by hoarders and speculators trying to drive the price up so they can dump them later.

      Reddit users want us to believe the paper silver market is manipulated down when it’s really the illiquid physical market that gets manipulated up every so often to make a few people rich at the expense of everyone else!

  5. Kind of disappointing the lack of planning on this release of new Morgan’s and peace dollars…low mintages….and absurd availability to the public…hope things change….I only wanted one of each…j.s.

    • Amen Don.
      I only wanted 1 of each had both in my cart I’m positive everyone knows this ending, I was able to purchase <0

    • These people who bought the pre order coins are selling them on eBay for 4 to 5 times what a simple collector like myself cannot afford.
      I really hope the mint would allow the little guys to buy the coins at what they are suppose to be.

  6. “the reality is that not everyone will be able to purchase a coin.”

    If that is true, then why does The Mint allow anyone to purchase more than one (1) coin?

    • Yep and already getting emails from that coin genius on Saturday TV. There is something wrong and I seem to be able to get all the run of the mill stuff but anytime something special comes along I get ROBOTTED out. Might have to find a new hobby.

      • I agree Hal, I’m about to be done with this hobby myself.
        I emailed the mint after 24th I wasn’t real nice, but basically said enrollments should cover any/every coin for that enrollment (example, 2019w ASE enrollment should get all ASE w mint mark beit privy, reverse proof, or the new reverse etc every silver dollar that comes out of that specific mint included in our enrollment, if I don’t want it in a limited time I can disable it ).
        Has to be a better way for collectors and still have the low mintages now and then, dealers and flippers can get what’s left or their normal bullion boxes .

  7. How can some dealers (hawkers) on TV get unlimited supply and brag about it and most collectors will not see these coins unless they pay a premium price.
    SUCH a sad day for real collector.

  8. Having been on the phone for the dime that sold out in 7 minutes-actually got on with a live person in the first couple minutes, placed the order and was waiting for a confirmation number at T-13 minutes on that one. Disappointed doesn’t even describe the feeling. But they beat their record on May 24 with the preorders GONE IN 60 SECONDS!!?!??! Feel free to insert select phrases, most of mine were quite foul… They were on websites for sale (delivery in October?!) at triple the mint price within a few hours. Yes, feeling cheated and considering only collecting Canadian silver from now on!!!

  9. Speculators are adept at gaming the system and were obviously locked and loaded waiting for the the second hand to strike 12. The REAL collectors didn’t stand a chance against their multi profiles preloaded into automated software that stood ready to upload orders of 10ea within seconds of the order window opening.

    I thought the mint was intended to support collectors first. As an avid collector and a loyal mint customer of more than 40 years I was excited about this issue only to feel violated in that I stood at the ready to order my one coin, and was locked out while I watch the opportunity disappear.

  10. I agree with limiting the number you can order. If there is a surplus down the road, you can always lift the limit on a coin by coin basis so there is no loss to the mint.

    Is there anyone that can direct the comments in this site to a high level representative at the mint and ask for a response?

  11. This whole thing was a major let down with the US mint taking advantage of coin collectors. How do you make something right with false advertising. I was getting emails daily to subscribe to there enrollment program for the upcoming Morgan and Piece $. Which I did happily thinking I didn’t have to do anything else and 1 of each would be sent to me. When I signed up there was no notice saying they were discontinuing or putting on hold this product enrollment until after they sold the coins 10 or more to resale investors. I can’t believe the US MINT is only out for the best pocket payout the person in charge of distribution added to their personal bank account, let’s them get away with this. Blatant advertising to their loyal numismatist patrons. I for one will be continuing to contact my US state representatives about this matter. If any lawyer’s out there wish to file suit against the US Mint, I’m in.

  12. I agree with limiting the number you can order to 1 or 2. If there is a surplus down the road, you can always lift the limit on a coin by coin basis so there is no loss to the mint.

    Is there anyone that can direct the comments in this site to a high level representative at the mint and ask for a response?

  13. So when will the Mint make changes?They are doing a good job of turning off collectors now for 2 years. Why do all the dealers get the coins while the collector is shut out?.Instant markup what a rip off..

  14. I too was surprised that dealers got some of these coins in advance, ie, under the table, then had all their staff compete with the public for 10 more each. I did try to get 10 each knowing I needed them to try and get a perfect 70 one and have extra to trade for future coins I might no get. US Mint please produce more of the popular coins and set fair limits and please, please stop giving dealers an advantage to rip the rest of us off!

  15. Could not be more disappointed in the U.S. Mint. Not ready for a limited series? It was to be my birthday present 1 CC coin. One. Processed in cart and got botted out. Very poor planning by the mint.

  16. C’mon man..
    Do any of you guys go bass fishing, buy swimbaits/big lures??? Look I understand your disappointment and have waited myself to get one coin but you’ve got no idea what gone in 60 second’s is, seriously!!! Try to get in on a fishing lure makers website for a lure drop, 100-200 available from $80-$150 dollars limit is 2 mostly one is the norm, gone in 15 seconds every single time and there’s drops every month year round!!! Chin up my coin collecting brethren!!!!

  17. The us mint has been mismanaged for years they are trying to make big money, not support small collectors. They lose money making pennies as well as some other products. They try to create false collectables by limiting productions. The big dealers represent the main source of money. The only way around the mint isto hook up with a big friendly dealer,or join large club or start collecting something else

  18. what made me mad was all the lies from mint, they stated they no more then 300k silver eagles would be minted, and 200k of s and 30k of gold eagle but now we discover over million was made, and on the morgons, they was never place on line never place they was all pre sold, all the coins was pre sold, i got ask if this mint has not become rig facks state that only certen people will get the coins and right mintage and all else is lie to to up the sales this not fauld i dont know what is

  19. Was online 1200:01, had one of each in cart,then the page froze,then 0…hard to believe that there were any available at all.
    Should be one coin per mailing address! Why have a percentage set aside for profiteers? The real reality is that you have a better chance at winning the publishers clearing house prize. I like to collect Peace dollars…probably will need about 500 dollars to actually buy one from a reseller. Which means I’ll be just printing a image of it from the website and collect that instead…

  20. I was also frustrated by the number of times I was kicked off the platform and had to log back in to try to purchase the coins I wanted but I am not screaming about the household limits. I have seven great grand nieces and nephews. I wanted to buy eight of the Carson City coins, one for each child and one for myself. I only wanted one of the New Orleans coins for myself. Happily I was successful and I am not a dealer. It isn’t only dealers that buy more than one coin. The Mint, on the other hand, needs to work harder to assure that it isn’t bots making the purchases and that the web traffic doesn’t repeatedly crash the system. When they run out, they run out. Too bad so sad!

  21. I don’t think things are much better. Plus rarely is a US mint coin really go up in value. Seems after a while you can get them cheaper than release cost. I loved collecting coins and buying from the mint… but honestly I think I am done with the US mint. Even if they fix themselves… I am just burned out on how they manage.


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