On Friday, February 24, 2012, The United States Mint suspended sales of six silver coins, which included five America the Beautiful 5-oz Silver Bullion articles and uncirculated American Silver Eagle coins, Coin Collecting News reports.
At that time, no other related silver or gold coins have been suspended by the U.S. Mint.
The limited suspension was due to the steady rise of silver in the precious metals market, which surpassed the $35 an ounce rate on Friday. The U.S. Mint did not indicate when sales would resume, but collectors who have already purchased the rare coins may be able to see their investments rise in value in the coming months.
The affected silver coins were made of 99.9 percent silver composition, CoinNews.net reports. The suspended bullion included the 2011-P Chickasaw 5-oz Silver Uncirculated Coin; 2011-P Vicksburg 5-oz Silver Uncirculated Coin; 2011-P Olympic 5-oz Silver Uncirculated Coin; 2011-P Glacier 5-oz Silver Uncirculated Coin, 2011-P Gettysburg 5-oz Silver Uncirculated Coin, and the 2011-W Uncirculated American Silver Eagle Coin.
People lucky enough to have already gotten their hands on these valuables may be able to see high profits when it comes time to sell their collections to investors or dealers. When compiling a diverse portfolio of rare silver, gold and platinum coins, attention to fluctuations in precious metals prices can help people get the most out of their appreciating investments.
Suspensions are not uncommon when spikes in pricing occur, so keeping a close watch on the market is essential. These halts on distribution can be key indicators on when to take full advantage of low or high prices, or when it is time to buy or sell precious metals. Collecting coins may seem like just any other hobby, but people can make big profits by getting involved.