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Congressman faults U.S. Mint's underproduction of Silver Eagles, wants answers
From Money Metals News Service, Eagle, Idaho
Friday, August 26, 2022
WASHINGTON -- U.S. Rep. Alex Mooney, R-West Virginia, is calling out U.S. Treasury Secretary Janet Yellen and U.S. Mint Director Ventris Gibson for the "long-running production slowdown" in the Silver American Eagle bullion coin program that has caused "shortages and dramatically higher market prices for this iconic silver coin as compared to its peers worldwide."
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Many Americans have sought to hedge against high rates of inflation by acquiring hard assets, including gold and silver. Overall market demand for bullion coins, bars, and rounds has risen to higher levels than seen in recent years, if not ever.
Most gold and silver bullion forms do not carry much markup (also known as "premium") over the actual market value of the metal itself, thereby enabling investors to acquire more precious metal for each dollar they invest.
However, this has not been the case with the Silver American Eagle since 2020, causing it to become known in some circles as "the most overrated silver coin in the world." ...
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