The U.S. Mint confirmed to its major wholesale partners they are temporarily out of silver American eagle coins following “tremendous demand” over the last couple of weeks.

The Mint confirmed the coin will only become available once sufficient silver supplies can be found. The announcement has not yet been made public, but a Mint representative confirmed they had sent an official update to their largest buyers.

This is not the first time the Mint has been under pressure to meet demand. From January to June of this year the Mint started to ration the coin in a response to rising demand and falling silver supplies.

This week’s sharp price decline has sparked a surge in retail demand for investment grade bars and coins across the world. In Germany customers queued for hours in an attempt to complete purchases. Whilst in North America and Asia bullion dealers and distributors are reporting difficulty in obtaining supplies of the popular silver Canadian maple leaf coins. The Royal Canadian Mint has been rationing sales of the coin since demand started to surge in September.