Hunter Wise Commodities: Decreasing silver prices result in suspension of U.S. Mint silver coins

Oct. 7, 2011 - PRLog -- LAS VEGAS – Volatility in the precious metals markets has prompted the U.S. Mint to temporarily suspend a number of silver collector coins and sets on Sept. 28.

After the price of silver tumbled to $28.16 per ounce on Sept. 26 on the New York Mercantile Exchange, the Mint decided to halt sales of the uncirculated 2011 one-ounce American Silver Eagles and America the Beautiful five-ounce silver coins.

The American Eagle Silver uncirculated coin debuted with 184,967 orders between its launch on Sept. 5 to Sept. 19. The pre-suspension price of the one-ounce 2011 American Silver Eagles was $60.45.

“Although the price of gold has also fallen in recent weeks, no changes or suspensions have taken place in other U.S. Mint products such as American Gold Eagles,” said Ed Martin, president of Hunter Wise Commodities, a precious metal wholesale dealer based in Las Vegas.

Thus far, the complete list of suspended silver items include: the 2011 American Eagle Silver Proof Coin; the America the Beautiful Silver Proof Set for both 2010 and 2011; the U.S. Mint Silver Proof set for both 2010 and 2011; the 2011 Gettysburg National Military Park America the Beautiful Five Ounce Silver Uncirculated Coin; and the 2010 Mount Hood National Forest America the Beautiful Five Ounce Silver Uncirculated Coin.

The U.S. Mint was created in 1792 and is responsible for circulating coin production between 4 billion and 10 billion annually. In fiscal 2010, the U.S. Mint generated a record $3.89 billion in annual revenues.

Though silver and gold prices have been unpredictable lately, Hunter Wise Commodities believes the safe-haven metals are still worthy investments in turmoil economic times. To start an account with the company as an independent precious metal deal, visit Hunter Wise’s website at http://www.hwcom.com/.

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About Hunter Wise Commodities

Hunter Wise Commodities, LLC is an affiliate of Hunter Wise Financial Group, LLC. The wholesale dealer specializes in the purchase and sale of precious metals such as gold, silver, platinum, palladium and copper. The company’s corporate headquarters are in Las Vegas, Nev., with additional offices in Irvine, Calif., and London, England. For more information about the company, visit http://www.hwcom.com/.