2010 Silver Eagle
2010 American Silver Eagle
The 2010 Silver Eagle was first available as a bullion coin on January 19, 2010. The status of the 2010 Proof Silver Eagle and 2010-W Uncirculated Silver Eagle will remain contingent upon the US Mint's ability to meet the full public demand for the bullion coins.
The initial offering of the 2010 Silver Eagles took place later than usual. Typically, coins bearing the coming year's date are produced in quantity in November or December of the preceding year. This allows authorized purchasers to place orders for the coins in December for delivery in early January. Amidst a resurgence in demand for bullion coins, the US Mint continued production of 2009-dated coins through year end. This resulted in a delay of the full scale production of 2010-dated coins, pushing back the offering schedule.
The United States Mint continues to struggle with the heightened demand for precious metals products. The worldwide surge in demand for physical precious metals investment first caused problems for the Mint during 2008. Early in the year they were forced to suspend taking new orders from bullion dealers as they attempted to build an inventory to deal with the increased level of demand. Ultimately, the US Mint was forced to adopt an allocation program, which limited the number of coins that were supplied to each dealer. This rationing program continued into the following year.
By mid-2009, the US Mint had made some progress coping with the increased level of demand for American Silver Eagle bullion coins. They officially ended the allocation program that had been in place for more than a year. The signs of progress were short lived.
Late in 2009, the US Mint announced the cancellation of the collectible Proof and Uncirculated Silver Eagle coins. The Mint stated that they were legally required to devote all incoming precious metals blanks to the production of bullion coins until they could meet full public demand. By December, the continued high demand caused another Silver Eagle bullion coin sales suspension and a resumption of the rationing program.
The rationing program has continued with the offering of the 2010 Silver Eagles and will have implications for the collector versions of the coin. As in the prior year, whether the US Mint is able to fulfill bullion coin demand will determine whether 2010 Proof Silver Eagles and 2010-W Uncirculated Silver Eagles are eventually offered.
