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

Well Blanco, it looks like you're right about one thing at least, Tulving and he's a terrible businessman as well. I cut this blurb off another forum so don't anyone answer the question because it's not mine.

Problems with Tulving Bullion

Is anybody else having problems ordering from Tulving Bullion ?

On 3/7/10, I purchased about $45K of silver from Tulving.

They r'cvd my check on 3/10/10 and cashed it on the 11th.

Their policy is to ship all silver orders over-night after holding the funds for 10 business days.

On the 26th, I spoke with Hannes Tulving the owner of Tulving Bullion and asked when the order will be shipped.

He replied "When we get around to it".

I told him it had been over 10 business days and asked could he be more definite as to when the order would go out.

His reply was "I don't give a damn if you don't like it. We'll ship it when we get around to it."

I told him that answer was unacceptable and he replied, "You know what, you can kiss my ass." He then hung up.

Any ideas on how to proceed from anyone ? ​

 

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If 6,007,000 is ONLY total January sales and 20% (in line with January growth the past 3 years) then I'd guess the US Mint might sell ~30 mln units/ozt ASEs, ~ -10% decline.

Rough estimate follows... [TABLE="width: 110"]

[TD="width: 76, bgcolor: transparent"][/TD]
[TD="width: 71, bgcolor: transparent, align: right"]2013
[/TD]

[TD="class: xl66, bgcolor: transparent"]January
[/TD]
[TD="class: xl63, bgcolor: transparent, align: right"]6,007,000
[/TD]

[TD="class: xl66, bgcolor: transparent"]February
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]1,306,523
[/TD]

[TD="class: xl66, bgcolor: transparent"]March
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]2,237,608
[/TD]

[TD="class: xl66, bgcolor: transparent"]April
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]1,276,488
[/TD]

[TD="class: xl66, bgcolor: transparent"]May
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]2,477,888
[/TD]

[TD="class: xl66, bgcolor: transparent"]June
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]2,462,870
[/TD]

[TD="class: xl66, bgcolor: transparent"]July
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]2,027,363
[/TD]

[TD="class: xl66, bgcolor: transparent"]August
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]2,252,625
[/TD]

[TD="class: xl66, bgcolor: transparent"]September
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]2,703,150
[/TD]

[TD="class: xl66, bgcolor: transparent"]October
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]2,853,325
[/TD]

[TD="class: xl66, bgcolor: transparent"]November
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]2,853,325
[/TD]

[TD="class: xl66, bgcolor: transparent"]December
[/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]1,576,838
[/TD]

[TD="bgcolor: transparent"][/TD]
[TD="class: xl65, bgcolor: transparent"][/TD]

[TD="bgcolor: transparent"][/TD]
[TD="class: xl64, bgcolor: transparent, align: right"]30,035,000
[/TD]
[/TABLE]

 

My point is that silver is not profitable enough to get out of the ground on its own accord. It is only coming out because the lead and zinc are profitable enough to keep the mine open. So the cost of production falls to the metals which are responsible for the mine being in operation. I agree the label is irrelevant to cost of production, but it illustrates that silver is undervalued otherwise it would be labelled a silver mine because silver would be the primary profit driver, and then silver would be more responsible for the mine being in operation and your scenario would apply.

 

First I'm not talking about proofs, I'm talking about the bullion eagles. Proofs are a small part of their business and irrelevant to this discussion.

A) yes that is clearly the case, either they have gotten word to only mint so many or they are indeed morons who haven't the capability to put together a plan to meet demand

B) What are you trying to say here?

What does Tulvings past have to do with his being sold out of eagles? Your arguments are getting weaker and weaker in each passing post.

 

The mint must keep up with demand. Therefore, they are breaking the law.

 

They still have plenty of time to keep up with demand.

 

Actually they changed that as can be seen in this recent mint news blog article:

http://mintnewsblog.com/2013/01/the-return-of-silver-eagle-rationing/

Now, the production requirements for bullion coins have been quietly changed
with the passage of the Coin Modernization, Oversight, and Continuity Act of
2010. The requirement was modified to the more ambiguous “quantities and
qualities that the Secretary determines are sufficient
to meet public demand.” This leaves the door open to the Treasury Secretary to
make an independent determination of the quantity of bullion coins sufficient to
meet public demand, regardless of the actual quantity necessary to meet
demand.

 

Wow. That says a lot.

 

Yup sure does... considering they sold out of 2012 eagles 3 weeks before the end of the year, and have already sold out with over 6 million eagles sold with only 2 weeks of sales, I would have to say there is a shortage of silver out there. Plus I have read it on a few reputable sites~

Debating on weather to stock up on more this weekend or to see how things play out next week...i'm thinking the bottom of this wave has passed us by

 

The silver ETF SLV purchased physical recently. This is very suspicious.
http://investmentwatchblog.com/us-m...ver-manipulation-or-what-calling-silvertards/
http://www.zerohedge.com/news/2013-01-17/slv-etf-adds-record-572-tons-silver-one-day-more-all-2012

 

The change in language also allows the secretary more discretion regarding the minting of collector eagles (proof and burnished). Under the old wording, proof and burnished eagles might not be minted this year, but with the change in 'wording' I think collectors will have nothing to fear. The mint got a lot of hate mail back in '09 & '10 because of the discontinuance of collector eagles..........

 

Yeah, the mint blamed the old wording for not making them. Lots of collectors had complained to their congressmen about the lack of proofs.

So are we telling the mint their response to our complaints is part of a plot to keep silver out of American's hands?

Just an example that not everything is part of some devilish scheme, though they are fun to talk about.

 

Conspiracy theories.........

 

Hahaha! This thread is off-to-the-races....

Tyler, have you considered making a Citizens' Arrest of the Director of the Mint? Once the Republicans decdide to get back to work, you can confront Bibiana Boerio why she isn't doing her job lol

Maybe O is holding ASEs hostage to get her nomination passed - six months' late.

Just watch Ag bullion sales' premiums on feeBay. There is no "shortage" unless the premiums gap up.
If ASEs get pricey, don't buy 'em: it's that simple. They WILL get cheaper later (by April/May.)

 

Everything is going to be fine.

The Mint is doing a good job and keeping up with demand.

They sell the most ASEs early in the year because of impatient collectors. That can lead to an early sellout.

The alternative would be to invest in more equipment to crank out an additional few million coins in Dec-Jan. But then that equipment would sit idle for the next 10 months. This might be an option if you are selling toys or food or something else with a seasonal supply or demand component, but it is unnecessary and costly if you are making low profit margin coins.

 

I've got a subscription to the ASE proof and it's on back order until 2/3

 

I stopped by my local coin shop today, they say they have been getting dozens of calls for the 2013, enough so that they changed the premium, from 34 an oz to 36, they had two 2013 ases when I entered the shop and they were still there when I left about 1/2 an hour later.

They still had hundreds of other years bullion issues, so it seems to be more collectors wanting to fill those spaces early, than a lack of silver bullion, if it were merely silver bullion the buyers would be snapping up the other year issues.

 

My Proof coins are on Back-Order also. Just wondering about the shipping cost.
What's with the merchandise charge of .03 ???



Merchandise : .03
Freight . . . : 4.95
Total . . : 4.98

 

3 cents is the actual value of a proof set. .

J/K...I think they are just checking your credit card. TC

 

I think it has more to do with production cycles. Proofs are due to release on the 24th, so I guess they underestimated bullion demand and are stuck in the middle of a Proof run.