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Aurcana Corporation Message Board

  • kevinllieno kevinllieno Jan 19, 2013 9:11 AM Flag

    silver eagle sales has overwhelmed the U.S. mint, and here is something to consider...

    Jan 17 (Reuters) - U.S. Mint has suspended sales of its 2013 American Eagle silver bullion coins after running out of stock due to soaring investor demand for the newly minted coins in the first two weeks of the year.

    Sales to authorized dealers will resume on or about the week of Jan. 28 after the U.S. Mint has replenished its inventory, it said in an email to authorized dealers on Thursday. The coins are produced at the Mint's West Point, New York, facility.

    While it is typical for collectors to snap up newly stamped coins, interest this year has ballooned due to investors seeking refuge from U.S. economic uncertainty.

    Silver Eagle sales to Jan. 15 exceeded 5 million ounces and were on track to surpass the all-time monthly high of 6.1 million ounces, set in January 2012.

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    • Couple things noteworthy to my mind.
      first, what kind of horrible business is it that runs out of product the first 15 days of a new year, when it knows that demand will be robust? Answer: THE GOVERNMENT BUSINESS. INEPTITUDE. inefficent, indifferent, let's face it, incompetent.....the government racket. Central planners have no real motivation to do anything or get anything over than a government paycheck. put is your time, get that paycheck, go home. put in your time, get that paycheck, go home. after all, nobody gets fired who works for the government, no matter how incompetent. Like the clowns running the u.s. mint. Like they really care about making money. what a laugh. It is about a time horizon and planning for the future. Just as welfare recipients have no ability to plan for the future, no ability to defer present free benefits, so too the execs at the u.s. mint have no desire or motivation to plan. so here is what they do: put in their time, get that paycheck, and go home. put in their time, get that government paycheck, and go home.

      I would think the U.S. government could get the supplies, the silver, if only they would do some basic planning. That is, if they wanted to make money. Wholesalers want the eagles badly; they want to make money................does the u.s. mint want to slow down consumption of its wildly popular product? My guess is the mint probably does, so they don't bust tails to get the supplies in or the work done.

      I would like to see or hear about how bad the shortage is for private silver mints, private manufacturers. I think that would tell us the real state of affairs. gonna do some research.

      • 1 Reply to kevinllieno
      • I tried buying an American Eagle 1 month ago from New York Mint. I'm still waiting for that coin to come. They were limiting one per customer. It was a crazy deal, it was at SPOT Price and shipping was FREE! If you order from any major dealer, you have to wait about 2-3 weeks for it to arrive. they make up a song a dance saying we have to wait for the check to clear, then we need to process it for a week , and then they ship it. But it takes 3 weeks! come on. When I've sold a few coins on e-bay my customers got it in less than a week.

        So yes silver has been heavily manipulated to keep it down this low. Demand has exceeded supply and the paper market will catch up.in the meantime buy Aunff which is one of the best silver plays around. This stock is toooo low! It is still cheap after bouncing off of 91 cents.

        Sentiment: Strong Buy

 
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