US Mint sold out of 2013 silver eagles - 6,000,000+ sold!

http://news.coinupdate.com/us-mint-temporarily-sold-out-of-silver-eagles-1815/

http://www.silverdoctors.com/januar...-pass-6-million-near-all-time-monthly-record/


I think we are about to see things heading UP!

 

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Maybe a little spike temporarily, since it's a temporary sell out until 1/28.

 

Good work everybody! Looks like it's going to be a good year for silver.

 

If they're not at the mint, then they are at the dealer's. Ultimately the mint produces and stores the coins, the dealers sell them.

 

I can't believe they sold out so quickly! I just found 6 silver dollars and had to pay $30 a piece for them. A week ago I got one or two for $27, so I would say things are looking up for silver this week.

 

pent up demand (they stopped SAE sales)+ new year excitement. the SAE market is very small compared to the overall silver market.

 

ASEs are actually a pretty large portion of the physical silver market.

 

Interesting, I wonder how this compares to other years.

 

Mint's just got to get up to speed again. I'm pretty sure there will be plenty of these pieces for all who want them. Oh.......and that December sell out? That was probably due to the mint re-tooling for production of the 2013 coins........

 

Amazing! Glad I don't need any but still pretty amazing!

 

"paper" silver is usually backed by physical- but I'd say the prices are set on the "paper"market

 

You're joking, right? Really?! -- breath-taking --

As reported by Thomson/Reuters GFMS, the total physical supply/consumption in 2011 was 32,366.28 metric tonnes. The USA consumed ~7,850 m.t. Estimated US Mint 2011 Silver Coin production was 1,240.5 mt., ~16% of US physical consumption and ~4% of the global physical consumption. That's hardly significant.
http://minerals.usgs.gov/minerals/pubs/commodity/silver/mcs-2012-silve.pdf

You folks really need to understand that your coin buying is a trifle in the global PM mkts. You're NOT 'moving' Gold or Silver, up or down. Sorry.

 

It is worth noting that (in 2011) the US share of the global Ag Coin/Medal mkt was 33%, but the global Ag Coin/Medal mkt is only 11.4% of global physical consumption.

fwiw, in 2011 "implied net investment Ag" (COMEX ingots, for ETFs, etc.) was 5,101 m.t. In other words, ETFs and institutional hoarders are about 5x greater than US Mint Silver coin production, and ~20% of global physical consumption.

 

darn it if silver doesnt go to $1000 who will pay my retirement bills?

 

Am I the only person who thinks this could well be a ploy by the Mint to increase interest in an otherwise uninteresting and overplayed offering? I mean, creating the shortage in the first place and then making sure it got released to the media.

It sounds a little contrived to me.

 

No, because I don't see the point. They sell the eagles for $2 over spot (or so I've heard), the more they sell the more money they make.

People are going to end up buying different coins because their online distributors are sold out of eagles, they are losing business due to this, so if it was done on purpose it would be the height of stupidity.

 

Tulving- Eagles sold out
Goldmart- Raised their price on 2013 eagles from $2.59 over spot to $3.89 over spot
Provident- Significantly increased their prices on 2013 silver eagles
Apmex- Significantly increased their prices on 2013 silver eagles

Smart buyers (in my opinion) will not buy eagles at the increased price, so this means less demand and sales for the U.S. mint.

 

Apmex's buy price on 2013 silver eagles is $2.65 over the silver ask price.

Just a couple days ago some of the online retailers were selling eagles for $2.59-$2.49 over spot, now at least one of them is willing to pay even more than that to acquire them!

 

Good thing I only collect even numbered years...

 

Either that, (which is a strong possibility), or maybe the telemarketers ordered heavier than the mint planned on.

Either way, it got this and numerous other threads started on the internet, right? Nice free publicity, and a good way to generate some "buzz" around an old program still making the same coin, (oh, I am sorry, I guess the last digit is a 3 instead of a 2 like last year, that makes all the difference in the world).