Production of United States Mint American Eagle Silver Uncirculated Coins continues to be temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Until recently, all available silver bullion blanks were being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”
Although the demand for precious metal coins remains high, the increase in supply of planchets—coupled with a lower demand for bullion orders in August and September—allowed the United States Mint to meet public demand and shift some capacity to produce numismatic versions of the American Eagle One Ounce Silver Proof Coin.
Read more here
shouldn't this explode the price tomorrow? Doesn't the EE usually attack silver every Wednesday? With this kinda news shouldn't the world buy like maniacs and beat the fuck out of the Blythe the Wicked Witch and the EE right out of the gate??? We're at 34.56 right now as I write this...shouldn't silver got to 36.50 by the end of the week if not sooner?
ReplyDeleteStill EE Wed. but it may close higher than open with hopefully a big dip inbetween :)
ReplyDeleteI posted similar information on YHOO today after communication with one of my suppliers. Forgot to post it here. I was told by D____G____ in Texas that the mint just reduced their allotments by 50%. I just loaded up on Eagles recently and it was a good thing. I won't sell them now--at all.
ReplyDeleteBut who knows what else is coming? Probably more trouble. I have other precious metals too like Mr. SGS et al. I figure Comrade Obama and his crew are going to continue to work on our "sup-par economic recovery" and also "make the world safe for democracy". Nice.
Now here is another scenario: The mints may stop producing as much for the "public demand" but they may continue to make bars for "industrial demand". Could it be that there is a government control coming on public purchases and this is to meet the big business industrial demand and bring the price back down? Maybe Blythe is running a big bullion cartel like that of O.P.E.C. and they will run the price as they see fit?
We're screwed--maybe!
ooooooooh...Jaws136 could be right...will this mean a kick ass BTFD opportunity tomorrow when the wicked witch tries to beat us down?
ReplyDeleteI'm all in as usual! The flying monkeys are dead monkey meat tomorrow if they try to attack!
I'm going to have a bunch slabbed depending on how this develops.
ReplyDeleteThis could be both good and bad news. Have to see how this goes.
The link says the mint will not produce 2010 uncirculated silver eagle coins. It is 2011. What does this matter? Am I missing something?
ReplyDeleteThe us mint posted that in 2010. And they only ran out of the "uncirculated" ASEs, which are not the standard, bullion ASEs.
ReplyDeleteThere are three types of ASEs: 1)proof, 2)uncirculated, 3)bullion (that is the standard type most people buy).
Here is a blog post from Dave from Denver, linking to your same link, on Dec 29, 2010
http://truthingold.blogspot.com/2010/12/us-mint-has-suspended-production-of.html
Oh Shit! That's the Mint coins not the bullion coins! I just went to their latest press releases and that info is not there. But I do know for a FACT that they are decreasing allotments 50% to suppliers as of today due to demand. I heard this from one of my sources. So we can still get them but it's just taking extra time.
ReplyDeleteThere's a difference between bullion coins and 'Mint Uncirculated...". I was reeled in there thinking the worse.
Good thing this is a blog comment and not a news wire.
It's a typo. Try ordering 2011 Silver Eagles from the Mint and that page comes up. So they are out.
ReplyDeleteI do not believe the Mint has the ability to refine silver into industrial bars. Never saw it on the tour I took at least.
"Comrade Obamas" created problems can be fixed very quickly when capitalism is restored after the economic collapse in my opinion.
@Jack--
ReplyDeleteThere is a misunderstanding here.
Nobody cares that the US Mint ran out of Uncirculated ASEs.
Nobody buys those.
Call us back when the US Mint runs out of "bullion" ASEs.
You cannot order 2011 "bullion" ASEs from the US Mint directly. You have to buy them through a dealer. So I don't understand how you tried to order them from the US Mint as you say...
Hey, so get this...GVille Coins has 2011 Eagles by the roll (20) for 3.00 over spot.
ReplyDeleteBut they have 2010 Eagles by each for 2.75 over spot.
This is new for them as far as I've seen.
Does the year really make a difference in value on these things?
BTW Buffalos are still 1.00 over spot. I just don't see that there will ultimately be a difference between any of them eventually...isn't silver silver?
UBS report Chinese import 200 metric ton of gold in the first 2 months of 2011.
ReplyDelete@save_america1st-- its prolly because a buyer would prefer the 2011 coins because they have never been touched by a end-user. the 2010 coins are more likely to have been bought by someone and handled, then sold back to Gainesville, who is now trying to sell them again. 2011 ASEs are likely to be unopened and "virgin". Its a numismatic consideration only. silver is silver.
ReplyDeleteBuffalos are non-government mint, so supposedly they are not as valuable. I disagree, silver is silver.
tront...
ReplyDeleteok...makes sense that you put it that way. The last 2 times I was in GVille Coins to pick up my order they actually tried to buy my coins back from me at the same time before even showing them to me. Both times I had already paid cash in full for the order, but had to wait several days to pick them up. I live about 5 miles away from them here in Tampa.
But even after paying cash for my orders of 2011 Eagles and then going back in to pick them up they were trying to get me to sell them back to them for 1 dollar over spot at both times.
That was new to me...things are crazy. lol
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ReplyDeleteSave_America1st...Silver is silver but ASE have been vetted by the US government this they are universally accepted or come from a known source, while the buffaloes have been vetted by a private mint. Most people probably have not heard of lets say Sunshine Minting. This is not a big deal if you plan on selling it back for a profit but if you think the stuff will hit the fan and plan on using it for money in lets say a hyper inflationary environment , people might assume the silver rounds are not real silver or are not pure. This is why you pay a little more for ASEs
ReplyDelete