U.S. Mint sees gold demand drop 43% in April, silver demand drops 23%

https://www.kitco.com/news/2022-05-...-drop-43-in-April-silver-demand-drops-23.html

Wondering if this is because their products have such a high premium, and buyers are tired of it & looking for lower premiums? What say you?

 

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Of course it did, look what they released in March then look what they released in April

 

Its been a long time since I bought anything from the mint. Poor business models and crazy premiums priced out all of their loyal customers.

 

Amen. I started buying from the US Mint in 1959. I stopped in 2018. They don't get my business anymore.

 

Yes, after getting defective coins in a set priced at almost $800, I agree.

The only things I want now are the annual Proof sets in Silver.

 

After last year with the poor product some mints put out, especially the morgans, I have had my fill of paying a premium for a so so product.

 

I just checked out the mint website to see if they posted a price for the new Buffallo $50 gold piece and saw that the price for the Platinum 2020 freedom of speech is $1,495.00, a markup of $529 or or 35% over spot for 1oz of boullion. I am in the wrong business!
https://catalog.usmint.gov/first-am...in-freedom-of-speech-22EJ.html?navid=xsellpdp

 

Not the wrong business, the wrong clientele. I used to work at a nursery years ago in a very rich and growing area. Boss man said "My customers come here expecting to pay alot of money, and I don't want to disappoint."

 

The Mint releases this year are real weak compared to those last year. With the cancellation of the Morgan and Peace proofs for 2022, this is shaping up as a Mint-free year for me.

 

The premium for there products keeps me from buying a lot products. I also am having a hard time with some of the issues for design and for other reasons.

 

Why do you think they cancelled them, in light of endless c-rap they release weekly? Shink tokens don't do much for me...

 

They were canceled because they're having trouble getting the silver planchets. Same reason things that are usually sold all year long are getting hidden limits placed on them

 

Could it be that people don't have as much to spend on coins?

 

Could it be that you can get a really nice 100 year old coin that has a history behind it at a same or lower price of an ASE or commemorative coin.

 

The mint sucks. Combine that with people wanting to afford gas, groceries... baby formula.

The wants tend to take a back seat more heavily when the costs of needs sky rocket.

 

I haven't purchased a coin in over a year because my bills are more important sadly as that is.
I usually only buy low Not high.

 

It's pretty simple why it was down. All you have to do is look at the new product offerings. There was basically nothing new that would have drove the sales that month. Combine that with rising spot that would have slowed bullion sales, and bullion sales being restrained by lack of planchets and its pretty easy to see why it happened.

If pricing was the issue there would have to be multiple products that just bomb sales wise which just hasnt happened