Coins reducing silver stockpile

The silver stockpile of the U.S. defence department has been reduced by 41% through U.S. Mint coinage programs since the Mint began drawing from the stockpile in 1986, The Silver Institute of Washington, D.C., reports.

At the end of 1985, the stockpile was almost 140 million oz. in size. At the average rate of annual consumption (11.5 million oz.), the entire stockpile will be depleted by 1998.

The Mint began to use the stored silver for coinage after a lengthy debate on how to dispose of the silver in the stockpile without adversely affecting the market for the metal.

The American Eagle silver dollar has consumed 43.1 million oz. of stockpile silver since it was introduced in 1986.