Royal Canadian Mint Puts Limits on Sales of 2013 Silver Maple Leaf Bullion Coins Posted by Adam King on January 28, 2013
Investor demand for silver bullion coins is once again apparent as yet another mint is showing signs that demand is so strong it may not be able to supply as much silver coin as investors would like to buy.
The Royal Canadian Mint has now instituted a program of rationing supplies of its 2013 Silver Maple Leaf Coin. The move comes one week after the United States Mint suspended sales of the 2013 American Eagle Silver Coin following the depletion of its inventories. The sell-out of the American coins comes after only ten days of availability in which time new records for one-day sales at the Mint have been set. When sales resume, projected for the coming week, the Mint has announced it will use an allocation, or rationing, program for supplied authorized distributors of the Mint with American Silver Eagle Coins.
The Royal Canadian Mint has issued a statement identifying strong demand as the catalyst for the rationing of the Maple Leaf.
Alex Reeves, RCM Senior Manager of Communications, said the Mint is carefully managing supply in the face of very high demand for Silver Maple Leaf coins to ensure all its distributors are served and it continues to take sales orders.
Reeves continued by saying that coming off strong sales volumes in December 2012, demand to date remains very strong for the Silver Maple Leaf and Gold Maple Leaf bullion coins.
In the third quarter of 2012, the Royal Canadian Mint moved 12.7 million silver bullion coins. The U.S. Mint showed sales levels of the American Silver Eagle Coin at 25.795 million for the first nine months of 2012. When the U.S. Mint began accepting orders for the 2013-dated American Silver Eagle Coin, after a three-week hiatus following the sell-out of the 2012-dated American Silver Eagle Coin on December 17, 2012, it racked up sales of 3,937,000 coins on the first day of availability, a new high record for one day sales in all the coin’s 27-year history.
News reports indicate investors and collectors will likely have to wait for the Royal Canadian Mint’s first quarter sales report in order to get an idea of the triggering demand levels for the current rationing process.