"Unprecedented Demand" - US Mint Sells Nearly As Much Gold On First Day Of 2016 As All Of January 2015
Submitted by Tyler Durden on 01/11/2016 21:35 -0500
While Chinese residents were lining up in front of banks and currency exchange kiosks, desperate to convert as many of their Yuan into dollars as the government will permit, Americans were likewise busy exchanging their own paper currency, so greatly in demand in China, into gold and silver.
As Reuters reports, American Eagle silver coin sales jumped on Monday after the U.S. Mint said it set the first weekly allocation of 2016 at 4 million ounces, roughly four times the amount rationed in the last five months of 2015, after a surge in demand. It will not be enough.
According to the Mint, more than half of the week's allocation of silver sold on Monday, the first day of 2016 sales, a sign that demand entering 2016 is literally off the charts.
Putting the silver demand in context, the 2.76 million ounces of silver bullion coins sold today is exactly half of the 5.53 million ounces that sold in all of January 2015.
FUN is the first and largest show every year. As it goes, so goes the year. Reports are that PCGS was backed up and unable to grade all the coins submitted at the show and had to take many to PCGS for processing. The show was busy and isles were full. Prices of coins seem to fair prices rather than any speculation. Overall, a good start to the year.
Hey Beefstu, I sort of picture Dilbert as this nerd with thick, coke-bottle glasses with poor hygiene, including terrible breath ? What do ya think ???
I've one upped you again. You should be used to it by now after all these years. Others have made a fool of you and moved on but I've enjoyed embarrassing you too much to leave for any length of time.
Have you had any recent contact with your idol Subway Jared?
cert rate on pace with last year
Both coins and cards are on par with last year. We know there has been a 10% increase in fees so overall fees should be up about 10%. There has been ZERO insider selling this quarter and the window closes tomorrow. The two best quarters are the next two quarters so this could and should be a bottom for the stock
any thread responded to by trolls will be replaced. So you are wasting your time
Sold those 1000 shares at $16.50 just 10 days later. Easy money if you swing trade this and buy the dips and sell the spikes
so #$%$ stooge
Nice call Dilbert...market up almost 200 points and your nugget of a stock down almost another 3%. You couldn't pick your nose correctly let alone any stock.
Do you still write Jared in prison?
Oh wait a minute I made a mistake..I see the high for the day was $16.62 so that's what I sold the shares for, yep amazing I know but I did.