BREAKING NEWS: The United States Mint has officially raised their wholesale pricing above spot on American Silver Eagles to all authorized dealers from $1.50 to $2.00, an increase of a whopping 33%. This news comes on the heels of a significant silver spot price rally over the last month to a new thirty year record over $22 per ounce. The impact of this news is significant and has already affected dealer pricing across the country within hours, as prices on Silver American Eagles have jumped over $0.50/oz industry wide.

The year 2010 will go down as a record year for Silver Eagle sales, as the United States Mint has already sold more than 25 million coins year-to-date. See chart below:  

This development comes only two days after the US Mint announced it had sold out of 2010 gold American Buffaloes and would cease production for the remainder of the year.

The impact of this rise in premiums will undoubtedly affect the prices of generic silver rounds as well. We will monitor these developments closely, as the rush into silver impacts pricing and availability.

Tarek Saab

Guardian Commodities

Tarek Saab is the President of Guardian Commodities and a former finalist on NBC's "The Apprentice" with Donald Trump. He is an international speaker and syndicated author.