US Mint Authorized Purchasers advised SDBullion Thursday that Silver Eagle allocations have been substantially declining every week since sales resumed.
2 weeks ago the US Mint made 1.4 million Silver Eagle coins available to Authorized Purchasers, last week only 1 million were made available, and SDBullion was advised that this week the number declined an additional 20%.
Further, US Mint officials reportedly are advising Authorized Purchasers that they will begin making the switch to 2016 Silver Eagle production in September, drastically reducing output of 2015 coins.
As it takes less than a day to change out dyes (in addition to the fact that in previous years the US Mint has halted sales in the November/December time-frame for the annual “switchover”) the evidence in our opinion points to the US Mint having extreme difficulties in sourcing raw material for Silver Eagle coins.
The Exclusive Distributor for the leading private mint 100 oz Silver bars in the US advised SDBullion on Thursday that the mint had been scheduled (and promised) to deliver 10,000 100 oz Silver Bars on Wednesday (1 million oz of a single private mint product), but was only able to deliver a little over 3,000 bars.
From the SRSRocco Report:
As the global economic and financial system head over the cliff, silver investment demand is moving in the opposite direction. Not only has the demand for physical silver increased significantly since the middle of June, it surged to a level that has now put severe stress on the retail market.
This huge demand in the retail market made its way into the wholesale market. According to the article, Investment Silver Demand Draining COMEX Vaults:
Bix Weir joins the SGTReport for another wake up call. As hard as it is for some folks to understand, when it comes to the stock market, and even your own home, you may not own what you think you own.
According to Zero Hedge, annual ETF trading has eclipsed the entire US GDP. That’s more than $18.2 TRILLION in annual trading volume on ETF assets which total a mere $2.1 TRILLION — further evidence that the “markets” are nothing more than a Ponzi scheme.
But it gets worse:
Someone or something has ponied up about $50,000,000 in order to “jump the queue” and take immediate delivery of 3,500,000 ounces of silver this month.
Read his latest article........remember this is delivery month.
I buy from a lot of different coin auctions. AND, I can tell you that the prices of graded coins has gone through the roof! Even, lower end nice coins, like ms 62 and ms63.
And everything offered is being bought.
I personally have not seen prices this high for a very long time.
Buy physical metals in an amount you are comfortable with. And hold them in your own possession.
And then, you will sleep well.
Best to all (except the bashers)
Today, we had the open interest in silver rise by a huge 1,258 contracts to 186,974 despite the fact that silver was down by 16 cents yesterday. We again must have had some shortcovering by the bankers as they feared something was brewing in the silver arena but it was to no avail. The OI for gold rose by another 8,036 contracts up to 470,720 contracts as the price of gold was down by $6.10 yesterday. Something big is going on behind the scenes as both silver and gold are being accumulated.
My serious question to the board:
If our safety deposit boxes aren't safe in a crisis, where can we keep valuables safely.
From Paul Foss
Of course these market alternatives for securing cash beyond the reach of corrupt governments, crony banks, and burglars hardly benefit those who have already been locked out by capital controls from withdrawing their property from safe deposits boxes. As the Greek crisis deepens, the contagion threatens to spread to the sovereign debt and the fractional-reserve banking systems of other countries. Faced with such a financial crisis, it is a good bet that no government will hesitate to impose capital controls, up to and including forcibly preventing owners from accessing the contents of their safe deposit boxes.
Who let the basher dogs out? or is it just one basher and his alias's?
You would think the same bashers, saying the same things ad nauseum would
have something else to do! Sad lives I guess.
Ever wonder why china rockets and kwiley always post at the same time?
And now a new one, called greenlover.
I would assume NO ONE is influenced by the negative posts, so what
are they trying to accomplish? Nothing.
kwiley, please tell us how you really feel. lol
SDBullion received a wholesale quote from one of the largest Authorized Dealers Wednesday for nearly $5/oz over spot for 5,000 oz of current year America The Beautiful Coins- a premium spike of over 100% in less than 24 hours!
Tuesday, the Sunshine Mint rounds and bars went from immediately available to production completely sold through August 13th in under 4 hours!
In many cases, physical silver is now MORE EXPENSIVE to acquire (on both a wholesale as well as retail level) after a $1/oz paper smash than it was prior to this week’s trip down the proverbial mine-shaft!
Wednesday the shortage began to spread to GOLD products.
Back dated gold Eagles and Maples are now NON EXISTENT on the US wholesale market.
Current year gold coins are now 2 weeks out at most of the Authorized Dealers. This type of gold shortage did not occur even when gold dipped to $1130 last November.
While spot/paper prices have stabilized today, if any further weakness materializes in the paper futures markets for gold and silver, we are looking at the very real potential of 2008 style physical premiums to acquire precious metals.
Tuesday morning we warned that physical shortages and BIG jumps in physical silver premiums were imminent after 90% silver premiums had doubled in the past 48 hours.
Below is an update of the physical precious metals markets over the past 48 hours:
90% premiums skyrocketed over the weekend after the Greek Referendum vote with availability nearly nill- wholesalers/distributors are now offering 90% silver in volume at up to $3 over spot, and supplies are rapidly vanishing
Just before noon Tuesday, the US Mint advised Authorized Primary Dealers it had SOLD OUT of all Silver Eagle coins, and would be taking no further orders until approximately August, at which point it would begin rationing coins to Authorized Dealers.
Silver Eagle premiums instantly skyrocketed across the market, with premiums rising as high as $3.25 over spot/oz WHOLESALE / IN BULK
Between 4pm EST and 5pm EST on Tuesday 7/7, one of the largest Authorized Dealers sold through 250,000 Silver Eagles and raised premiums .50/oz further!
SDBullion broke all-time sales records Tuesday for order volume as well as total ounces sold- with demand FAR OUTPACING the Nov 5th 2014 bottom for gold and silver which had previously held both records.
Later in the afternoon, premiums began surging on Silver Maples and silver rounds and bars, and Authorized Dealers are advising that a production and premium hike announcement is expected imminently from the Royal Canadian Mint.
Wholesale premiums on many silver rounds and 10 and 100 oz bars HAVE DOUBLED in 48 hours.
The silver paper futures open interest is now officially over a 1 billion ozs., most of which represents a naked short position in silver. Never in the history of the markets has any futures market been this extraordinarily disconnected from the amount of underlying physical commodity that is available to deliver against those contract open interest.
The only conclusion that can be drawn is that the Fed, Treasury and big banks are implementing the most extreme market manipulation exercise ever witnessed.
I shudder to think about what catastrophe is coming at us that they know about but we don’t – yet.
Chinarockets and alias's has chased away about all the posters here. Not much left of this board.
Does anyone know the name of the Mobile Home Park that China lives in?
John Embry, Senior Investment Strategist at Sprott Asset Management, says there is no doubt another financial calamity is coming. In fact, Embry says, “It’s unavoidable. It’s inevitable is the word I would use. There is no getting out of it. If you thought 2008 was bad, and I thought it was terrible, this time, there is no ammunition left. You can’t take interest rates any lower. All you can do is print even more money. That really didn’t work the last time. The safety nets are largely gone if we do run into something untoward, and it could be fairly soon. I don’t think there is really anything left to stave it off. I don’t think they will refuel the period from 2015 to 2020 like they did after 2008. I think it will be much uglier than that.”
ideal, I only follow myself and what I think is best in the long run.
Metals are just a portion of my investments, but I feel a good
The two ETF’s that I follow are the GLD and SLV. You must be very careful in trading these vehicles as these funds do not have any beneficial gold or silver behind them. They probably have only paper claims and when the dust settles, on a collapse, there will be countless class action lawsuits trying to recover your lost investment.
There is now evidence that the GLD and SLV are paper settling on the comex.
***I do not think that the GLD will head to zero as we still have some GLD shareholders who think that gold is the right vehicle to be in even though they do not understand the difference between paper gold and physical gold. I can visualize demand coming to the buyers side:
Very simple advice. Hold the physical silver or gold.
And ignore china rockets and his alias's.
In this MUST SEE interview, Jeff Brown presents us with some stunning statistics regarding the amount of silver required by China to meet its 5-yr plan to install 100 gigawatts of solar (by 2020).
It takes 236 metric tonnes of silver per gigawatt of solar energy. This translates into 8.3 million ounces per gigawatt of solar energy output. If China installs 100 gigawatts in the next 5 years, this will require 26,300 metric tonnes, which is 731.6 million ounces of silver.
“It looks like China is trying to get its hands on all the silver it can find.”
They must have a sad life to continue to post here ad nauseum.
Posting on this board is NOT going to affect silver price one way or the