In a editorial release recently issued by Provident Metals answers this question in one word “Supply”. 

Engelhard Prospector 1oz Silver Rounds

They go on to say that precious metals prices have been under pressure lately.  Here are their follow-up comments:

Gold, silver, and platinum all took a major tumble in mid-August, and have remained close to multi-year lows ever since. This sudden drop was the result of panic-selling in the futures market. Some sellers actually do have the metal (like mines and refineries) and they’re looking for a way to move their product. Others, however, jump into the futures market as a way to bet on future price movement. The net result is that sometimes there’s a massive difference between the physical market and the paper market.

How strong has physical demand been? First, in late August, all forms of low-premium silver disappeared. Products like secondary market rounds and bars evaporated. Then, soon thereafter, random date silver coins like Eagles and Maples started exiting the market. Before we knew, 90% junk silver had become non-existent in the marketplace.

Remarkably, the Mint had completely run out of 2018 American Silver Eagles! They gave distributors just a portion of what they requested and essentially told them to come back in two weeks. It’s been years since the U.S. Mint has needed to do this!

After two extremely quiet years of anemic demand, now refineries are struggling to turn out enough product. These manufacturers were simply caught off-guard, and did not foresee such a sudden and dramatic spike.

The takeaway message is this: paper metal might appear depressed, but it’s a totally different situation in the physical market. Supplies are tight, and even the world’s largest mints are struggling to keep pace. If 2015 is any indicator, these conditions often lead to significantly higher premiums.

You can still find interesting deals and unique, discounted and limited items at their Provident Metals Website – SPECIALS!

You can also find many items at CAPTAINS COINS an eBay store featuring Engelhard bars and rounds, plus hard to find bullion items with free shipping and guarantees.