U.S American Eagle Coin Premiums Drop Sharply in May

Bloomberg reported that premiums for  American Eagle silver coins sold by the U.S. mint fell in May down from a four-year high, a sign of softening demand.

As quoted in the market report:

The premium charged by wholesale dealers fell to 13 percent from 25 percent in April, Richard Nachbar, a coin dealer based in Williamsville, New York, said today in a telephone interview. The premium rose as high as 55 percent in the two months ended November 2008, he said. Dimes, quarters and half-dollars dated before 1965, which are 90 percent silver, traded at a premium of 17 percent in April after usually selling at a discount, he said.

To view the whole Bloomberg report, click here.