Why is the price for American Silver Eagle coins so high?

The silver eagle is a one-ounce silver bullion coin produced by the US Mint. Bullion coins are meant as a store of value. The coins are 99.9% pure silver. They were first minted in 1986. These coins are very popular with investors and collectors.
At this point, the American Silver eagle cost anywhere from $10 to $15 more than the spot price of an ounce of silver. This additional cost is called the premium over spot.
The US mint sold less than 16 million once ounce American Eagles silver coins last year which is considered as a weak sales year. In contrast, the Perth Mint of Australia had record sales of 23 million ounces. The poor US mint sales were due to insufficient supply.
The US mint purchases the silver blanks, these are silver disks that are transformed into coins, from a private mint in Idaho called Sunshine Mining. Demand and price for silver coins fluctuates. The US mint contracted the silver blanks out to a third party to mitigate market risks. Sunshine Mining says they are running at full capacity. The company points to a shortage of skilled workers.
There is still a lot of inflation right now. Now, we have a lot of uncertainty in the economy as well. I’m worried about my own job as I read and hear about other people losing their own jobs. I’m monitoring all sorts of economic metrics that indicate to me the economy is softening. I believe there will be more demand for silver in the future. These American Silver Eagle coins are going to be more and more in demand.
Works Cited:
https://www.kitco.com/news/2023-01-13/This-is-why-you-will-see-high-premiums-on-American-Eagle-silver-coins-in-2023.html
https://learn.apmex.com/investing-guide/silver-buffalo-vs-silver-eagle/
https://www.apmex.com/product/258627/2023-1-oz-american-silver-eagle-coin-bu