The US Mint has ratcheted up premiums for their popular American Silver Eagle bullion coins once again. Premiums charged to Authorized Purchasers were increased from $1.50 to $2.00 per coin. The increase was made effective today.
Authorized purchasers are the only ones allowed to purchase bullion coins directly from the US Mint. The increased premium level, will no doubt filter down through the distribution channels and result in higher prices paid for silver bullion at a time when spot prices continue to soar.
During the past two years, premiums have been raised on two other occasions. These were relatively modest adjustments compared to the current 50 cent per coin increase. On October 14, 2008, premiums were increased from $1.25 per coin to $1.40 per coin. Then on January 27, 2009, premiums were increased from $1.40 to $1.50 per coin.
The increase in premiums for silver bullion coins comes just a few days after the US Mint announced the depletion of their 24 karat gold bullion offering. The latest available information suggests that the coins will not be offered for the remainder of the year, with the start of sales for 2011-dated coins still undetermined.
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