The U.S. Mint has temporarily run out of silver bullion coins after selling 2.3 million coins in the past week and a half.
The surge nearly triples February’s sales and is up from 850,000 coins in the same month last year.
West Point, where the coins are minted, is working to produce more coins, according to Mint spokesman Michael White.
Mr. White didn’t give a reason for the increase in sales, but it is possible buyers are worried about the new coronavirus.
“Every time there’s these major hiccups, these black-swan market events, there’s always an uptick in people prepping,” said Everett Millman, a precious metals expert with Gainesville Coins Inc. in Florida.
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