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

If they were keeping up with demand they wouldn't be sold out.

Apparently this is a very difficult concept for most to understand given some of the posts in this thread.

Maybe the public education system should concentrate more on economics edited ~ political.

 

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Mint's just 'tagging' your card Dave. They just want to make sure it's good. Don't be surprised if that eagle shows up a little earlier than expected........

 

Me too......

 

There are seemingly plenty of ASEs available to purchase right now through the authorized resellers. Consumers are getting their bullion just fine through the network and thus the Mint is fulfilling its mission. Nobody is going to bed hungry for lack of silver tonight.

 

Relax people. I ain't seein' a shortage........except maybe a contrived one.......evil:

 

The biggest online seller, Tulving, is completely sold out of eagles. All other major retailers have raised their prices on silver eagles, that is indicative of a shortage. Prices rises when there is not enough supply to meet demand.

Apmex's buy price was 2.65 on eagles, when the mint sells them to the distributors for $2 over spot. Why on earth would Apmex pay 2.65 over if they could get as many as they want for $2 over?

There buy price has never been that high, except when there is a.........wait.......for..........it..........a.............shortage!

 

Wait a few weeks..........

 

And your friendly neighborhood grocer has never run out of bread or milk.

For any and all products it can be hard to anticipate demand. Don't get your panties in a knot, they'll have more in stock soon.

 

What I don't understand is why they didn't make 10 million coins in advance. Unlike bread, the coins can't spoil. There is no reason they should sell out the FIRST month when they know they will sell at least 25 million coins this year (34 million sold in 2012)

 

Probably because it's not the only coin they have to mint. They anticipated a certain demand and went on to other things with plans to get back to Eagles later. They missed.

Let he who is without sin...

 

Rick,

Why are you bringing Sean Hannity into this discussion?

 

I thought he was talking about Chris Matthews.

 

I never said they wouldn't catch up (all i said was their was a shortage, which their was!), looks like they there are enough to meet market demands now since the premium is dropping at most sites.

 

Agreed. Most of what comes out of mint stores is over hypped and over priced.

 

I tell ya, it's 'cause they's makin' the 'proofs'. There'll be plenty of product to go around in the upcoming weeks......

 

From: http://www.numismaster.com/ta/numis/...rticleId=26474

"Currently, the Mint is striking silver Eagle bullion coins at a rate of 800,000 to 1 million coins a week, he said, which is as fast as it can find supplies of silver blanks."

 

Which is way more than the mint has ever sold. I simply believe the entire episode was a small blunder at the mint not projecting changeover volumes. No biggie, and there will be as many ASE's as anyone would care to own very quickly.

 

The mint averaged 765,000 silver eagles sold per week in 2011, so I don't know if I'd say its way more.

 

Considering sales demands have been down considerably, and you are comparing it to the highest known year in history, yeah I would say its way more. even averaging 900,000 a week, that would be 17.6% more they are making today than they have made in the history of the mint.

If sales pick up they will look at sourcing more blanks. You cannot jack up production above certain levels short term, but the only limit right now is blanks, not coining capacity. If they run consistently I am sure they will be able to find another 1 million blanks a week after a few months. Things like this need to be scheduled, suppliers arranged and their factories certified for quality, etc etc. It just takes time in industry.

Buy them, and they will strike them is what I am saying. If there is demand for 100 millions ASE's, I am sure the mint will eventually be able to ramp up production.

 

I just have to wonder IF we are actually getting what we are paying for as for silver content? How would you know? Not saying it would be the mint but many contractors trying to save a buck also. Has anyone thought to have one tested on one of these new fangled machines?