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US Mint Halts Production of 2022 Morgan Dollar and Peace Dollar Coins

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Designs of the 1921 Morgan and 1921 Peace Dollars

The US Mint has announced a pause in the production of the new Morgan and Peace dollar coins. The suspension of sales and production is a result of supply chain constraints brought on by the pandemic.

The Mint has stated previously that they have been having difficulty procuring silver planchets to meet demand and production needs.

US Mint Deputy Director Ventris C Gibson said “I want to ensure that our customers know,” she said, “that the modern renditions of the historic Morgan and Peace Silver Dollars will continue next year. Our goal is straightforward: to give our loyal customers the products they want and the service they deserve.”

The modern renditions of the Morgan and Peace Dollar Silver Coins were introduced in 2021. Demand for the modern coins has been very strong amongst investors and collectors.

These coins are minted with .858 troy ounces of .999 fine silver.

Learn more about the 2021 Morgan and Peace Dollar Silver Coin series and find the best prices with FindBullionPrices.com

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US Mint Clarifies Statement Regarding Global Silver Shortage

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The US Mint released a statement confirming a global shortage of silver after the website outages during the pre-sale of the 2021 Morgan Dollar commemorative coins.

“The global silver shortage has driven demand for many of our bullion and numismatic products to record heights. This level of demand is felt most acutely by the Mint during the initial product release of numismatic items.”

US Mint Press Release

This appears to be the first indication from a government agency acknowledging what many have been speculating for more than a year.

The lockdowns at the beginning of the COVID-19 pandemic forced the closure of many mines and the supply chains that turn raw ore into fine silver and gold. 

The shutdown of the mines and supply chains led to refineries scrambling for raw materials and mints running out of product to sell.

After some backlash, the US Mint has revised its statement about the shortage. 

“In more precise terms, the silver shortage being experienced by the United States Mint pertains only to the supply of silver blanks among suppliers to the U.S. Mint.”

US Mint Press Release

Silver blanks are manufactured for the US Mint by private mints. The US Mint didn’t specify which private mints were having issues supplying silver blanks. It has been documented previously that the US Mint has bought silver blanks from private mints such as Scottsdale Mint, Sunshine Minting, Coins’n’Things and other major industry players.

The US Mint has delayed the remaining pre-sales of the 2021 Morgan Dollars and 2021 Peace dollars. The prospective launch dates have yet to be announced.