US Mint Sells Record 63,500 Ounces Of Gold In One Day

http://www.zerohedge.com/news/2013-04-17/us-mint-sells-record-63500-ounces-gold-one-day

 

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Fools........

 

Can you just imagine how common 2011-2013 dated bullion coins will be someday? They will be like 1964 quarters and halves.

 

Silver sales would be crazy right now too, if the mint could allocate enough silver blanks too keep up with demand, but they can't. I guess their is a silver shortage.

 

Since the US mint has restrictions as to the origin of silver, and you are talking about blanks, (which may have their own production restrictions) I am not sure that is a fair statement. I would be worried about a silver shortage if Canada, China, and other world mints cannot obtain bulk silver.

 

Pretty sure those restrictions were lifted, at one point I believe they could only obtain blanks from silver mined in the United States, but there is no way that could of happened the last couple years. They minted about 40 million coins in 2011 and 33 million in 2012, they would of had to obtain just about every ounce of silver mined in the USA. Also I find it highly unlikely that the Sunshine Mint (the mint they obtain at least a portion of their blanks from) is segregating U.S. mined silver from "world" silver.

Feel free to prove me wrong though.

 

Oh BTW the canadian mint is allocating the silver maples as well, they also can't obtain enough blanks to keep up with demand.

https://www.goldstockbull.com/artic...-shortage-moves-dealers-to-allocation-status/

 

Also look at the premiums on the online sites, you can tell their is a shortage of maple leafs and silver eagles. A few months ago before the supply problems you could get silver maple leafs for 1.99 over on a monster box, and silver eagles for $2.49-$2.79 on a monsterbox.

Now you will have trouble finding either coin for much less than $5 over spot. The dealers wouldn't be raising their premium so much if they knew they could re-stock their supply at these lower prices, but they know they can't get all the coins they need. So if they are only going to get half of their demand, to make the same money, they need to double their premium.

 

Again, "blanks". Just because there may be physical limitations on how fast a blank can be created does not necessarily mean it has anything to due with availability of silver. If you find an article about how BLANK manufacturers physically cannot receive enough shipments of silver, then I would love to read it.

I dealt with this all of the time in the automotive industry. Sometimes there would be shortages of stainless, other times shortage of line time to produce SS tubing. Either way we were short of product, but its very important to differentiate the CAUSES, is it natural resource shortage or production line shortage.

 

I guess you could make the case their facilities are not equipped to handle the demand which is possible.

I'd think the companies who produce blanks should be able to up their production numbers to meet demand pretty quickly here, as they are leaving money on the table by not meeting demand.

There are over 300 million silver eagles out there yet they are trading at a 5+ dollar premium, pretty indicative that almost no one is selling and a lot of people are buying.

Honestly I don't care whether or not their is a shortage though, silver is undervalued right now whether there is a shortage or not.