The United States Mint has informed companies in the Authorized Purchaser program of bullion coins that it has ceased production of the 2020 American Eagle silver coins. While demand remains strong for bullion products from the Mint, preparation for production of the 2021 “ASE” has now been started to meet demands early next year.
The Mint informed Authorized Purchasers via email and American Precious Metals Exchange (APMEX) posted the news via their Twitter account.
What this means for collectors and investors is that what stock companies like APMEX will be their remaining stock on the 2020 American Eagles. No more can be purchased from the Mint. Once these are sold out from these purchasers, the only way they will be able to be bought will be through individuals or coin shops.
The United States Mint, like other world mints, does not sell its bullion coins directly to the public. Instead, we distribute the coins through a network of official distributors called “authorized purchasers” who, in turn, create a two-way market buying and selling to precious metal wholesalers as well as private investors.
As a reminder to readers, the early 2021 American Eagles will continue to have the inaugural Reverse that has been on the ASE since its inception. The Mint announced last month that this would be the case with the new Reverse not being available until Mid-2021. This is to assure that the Mint meets its obligations around providing bullion coins for investors and collectors early next year.