The US Mint has just issued an alert to Primary Dealers across the US that Silver Eagle inventories, which according to the Mint began today at over 2 million ounces, are now SOLD OUT as of 12:30pm EST.
*Updated 1:45 pm EST
The Mint has reportedly sold through over 2 million ounces in less than 2 hours!
It appears that the $15.50 level was the line that broke the camel’s back regarding physical inventories, as physical demand has simply EXPLODED on this morning’s futures dip below $15.20.
*SDBullion took delivery of 10 Monster Boxes of Silver Eagles from the US Mint this morning, and currently have 20 monster boxes left in inventory.
When they’re gone, they’re gone!
1:45pm EST Update:
At approximately 1pm EST, one of the largest Primary Dealers in the US issued a notice to all purchasers that premiums for ANY PREVIOUSLY PLACED PURCHASES FOR SILVER EAGLES ARE NO LONGER VALID!
This is simply unprecedented!