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As Silver Touches $34.90, US Mint Runs Out Of Bullion Blanks, Halts American Eagle Silver Coin Production
The scramble for non-dilutable currencies hits a frenzy as silver just touches on a fresh 31 year high of $34.90. To commemorate this historic event, the US Mint has halted American Eagle silver coing production, in addition to its ongoing halt of American Buffalo coins: "because of the continued demand for American Eagle Silver Bullion
Coins, 2010-dated American Eagle Silver Uncirculated Coins will not be
produced. The United States Mint will resume production of American Eagle Silver
Uncirculated Coins once sufficient inventories of silver bullion blanks
can be acquired to meet market demand for all three American Eagle
Silver Coin products."
From the US Mint:
Production of United States Mint American Eagle Silver Uncirculated Coins continues to be temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Until recently, all available silver bullion blanks were being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”
Although the demand for precious metal coins remains high, the increase in supply of planchets—coupled with a lower demand for bullion orders in August and September—allowed the United States Mint to meet public demand and shift some capacity to produce numismatic versions of the American Eagle One Ounce Silver Proof Coin.
However, because of the continued demand for American Eagle Silver Bullion Coins, 2010-dated American Eagle Silver Uncirculated Coins will not be produced.
The United States Mint will resume production of American Eagle Silver Uncirculated Coins once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.
But fear not: those so inclined can still purchase American Eagles on the Monex live exchange... for about 10% over spot.
h/t Nico P
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Why doesn't the Mint just sell IOU's at spot price?
raid underway.....
Silver from 34.83 to 34.67 n 1 minute....
WHOA down almost .10 cents? PANIC TIME!
chill homie...we're on the same team...they usually start a raid with sharp dips n the range...been following this market for some time...been accumulating for some time...still accumulating now...
aint nobody panicking...............
Fear not. $35 per oz today is for sure.
I concur
ok, simple question. if tyler is wrong, what hyperlink does one click at the us mint site to buy the bullion eagles? i go to the site daily to buy eagles. i cannot queue up an order.
all i can find are the buffalo gold coins priced conveniently @ $1660 plus shipping and handling.
at least based on my experience one cannot order eagles.
i will happily admit error if someone can tell me the hyperlink at the site where one can step up and buy eagles.
I believe bullion must be bought through dealers. I read that somewhere.
Check the dates:
http://investmentwatchblog.com/report-the-us-mint-reports-that-productio...
https://www.kitcomm.com/archive/index.php?t-68790.html
Bwahahaa.
i don't get your response. i'm saying i want to buy the eagles but am unable to do so at the us mint site. if you say i can then point me to the link at the site?
that's all i'm asking.
not being provacative. just want to buy eagles from the mint.
I was just commenting on the "if tyler is wrong" part.
I can't provide you with a link to buy the Eagles. Apparently unlike some people here I have no personal/commercial interest in promoting silver (or otherwise).
read lower in the thread. there's a cat called brianoflanagan who said tyler was wrong. said the eagles were available. i asked oflanagan to elaborate since i want to buy the eagles at the us mint. he hasn't responded.
so i asked the board if they could point out the hyperlink at the site where one could buy the coins.
i think tyler is right and flanagan wrong. but if the eagles can be bought i'll buy them through the site. that's all.
Even if Tyler is right, it's not for the reason he said in the ultra-alarmist-cum-silver-commercialist headline.
Looks like with all thier other products that they have available, you can buy them straight from the mint. For example, America the Beautiful Quarters: http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?cata...
First spouse: http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?lang...
Presidential dollar coins: http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?lang...
Native American dollar coins: http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?lang...
Gold Buffalos: http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catal...
Etc, etc, etc.
The website says that it doesn't sell uncirculated eagle products directly to the consumer, but it does list when it does production runs for ALL products, and uncirculated silver eagles are not scheduled to be produced for the remainder of the year!
http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProdschedView?storeI...
ok. thanks. the last link is very helpful.
The mint often provides additional coins depending on supply. For example, proof eagles were not minted in 2009 because of supply issues. Burnish coins were made in 2006-2008, then discontinued. Circulated eagles are only available from dealers as they are sold to 6 primary dealers only. Uncirculated eagles were not available last year and probably will not be available this year because circulated eagles are legally required to be minted in numbers to meet public needs.
2010 proofs were only minted to satisfy numismatists whom had complained to Congress and so they did a small run that sold fast. The proofs are scheduled for june, but may be delayed depending on the supply of planchets.
thanks sean. good info. i guess the "meet public needs" has the mint spooked.
If the present trends continue, the Mint will have to import silver this year, just for the circulated Eagles.
my head is about to explode from all the different forms of silver. i've bought a lot of different varieties ranging (mostly) from junk to a few dozen proofs, and of course gold eagles.
i see how people got gold fever back in 1849, and throughout history. it's great to hold in your hand, and look at.
Nothing like it.
, the Mint will have to import silver this year, just for the circulated Eagles.
Uh Uh, illegal.
You can't buy eagles directly from the mint unless you are on their dealers list. To do that you need to commit to buy a certain amount every year like 100,000. Just go to Apmex or Gainesville Coins.
http://www.youtube.com/user/BrotherJohnF?feature=mhum
are you brother john?
Yes, he is BrotherJohnF.
thanks for the follow up.
What is not to understand? they took payment and did not deliver? thusly they were put on notice.
I dont understand how you dont understand?
The price spiked and they wanted to keep the monies? I dont know what Gainesville Coin was trying to pull over on my Mother...
But the Fact remains, Gainesville Coin is not Direct to the Mint.. which means a second party is involved.. which means you are paying more than you need too..
http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=lookup
!chicken what to do about blanks?
<Geithner> Nationalize
The US Dollar is getting killed
how much silver do you think is a good foundation for a family of 4, to have at this point in time
we have 300 ounces.....is this a waste a time, a good start but need to get more or very impressive amount to own ??????
your 300 times ahead of 99% of the population.
Silver means nothing unless you also have the means and will to protect it.
Watch as most all silver and gold bugs never even thought about buying an AR15 and ammo, much less the stones to actually use it and when they declare you must turn it all in or be charged with a felony theyll rush to be first in line to comply.
Man-portable weapons is nothing if you don't have a nuclear shelter stocked with food and water for like a 100 years.
Oh, and a redtube mirror on your EMP-hardened laptop. Cause it might get boring.
If you don't know how to entertain yourself without a laptop, then you might as well turn the gun on yourself.
Sheep-dog, I'm sorry you don't have any Gold and Silver.
Guns spook people, like does the thought of capital tied up in PM.
In this old old debate, I suggest a (tried and tested) nominal 18 in. semiauto shotgun for threats at the boundary of or within the residence; a rifle for threats beyond. Since in the moment of need the intent is unambiguously SERIOUS, and one has metally/emotionally prepared for the consequence, the circa .223 round is undersized and cannot reliably penetrate cover. The .308 or 30.06 should be considered as a minimum against the threat shooting back. The user just has to accept that these makes a very loud noise.
Just go and buy a fucken .50 BMG.
Or perhaps Prozac. Way cheaper and could actually somewhat fix the paranoia.
As a precedent, one may wonder if the good citizens of Juarez are justifiably paranoid?
I simply don't get the Juarez situation. If any 15 year old in the US can go to gun shows and buy Ak47s to sell in Mexico, they why isn't the gun/drug violence ten fold in the US. Surely in Mexico where the government has done all the right things like outlawing ownership of such weapons the situation should be in much better shape then in the US where common citizens can buy these. It's almost a totally upside down result. President Obama should immediately initiate a government study of this situation.
Head,
it's easy.
First YOU cannot go into a gun show and buy a .22LR singles shot rifle or pistol from a Dealer.Much less a 15yr old, paying $15,ooo for an AK 47.(that means semi/and full auto).
The MSM (again the lying bstds), deliberately LIE about what an AK 47 is, or a Machine gun.
What you get at gun shows is a CLONE of an AK semi only,one BANG per trigger pull.
As for Mexico's issues, their Mexico's.The Police there are worse than Al Queda, or the Taliban, and will murder you for free.
The Mexican Military(Federales), are within 10% of being just as bad,if not worse.
The USA (Obammmys Gv't), is complicit in the violence.
WE trained a lot of their Federales to OUR stds, only for them to buzz off and join the cartels.
They either buy Com BLoc FA's, or Semis, and have a machinist convert them to full auto, no small feat.
VERY difficult for AR 15's.............you have to have a full machine shop and know your shit, and have some parts(some cannot be altered, must be made, from scratch.)
So, there's a wad of info for ya in a nutshell.
So I guess there has never been a break-in, home invasion, robber, rape, or murder in a home any time in the last few generations where you live?
Sorry, who's crazy here?
Clearly the government has given us no reason whatever to suspect their motives, nor are there any current or historical examples of governments violently oppressing their populations...but maybe I'm not thinking clearly, my head still hurts from falling off that turnip truck this morning...
Excerpt from Jason Hommel's 2/28/11 Silver Stock Report (free)
CONFISCATION RUMORS!
There are rumors of government confiscation again. Sigh. Not likely. Why not? Because of the fundamentals. Only 1 person in about 10,000 is buying silver. It makes no sense to confiscate!!!!
The entire world annual silver market is barely $21 billion. The government budget is $3500 billion, with the deficit at $1500 billion. $21 billion cannot actually be confiscated without the USA declaring war on the entire world! Makes no sense!!!
Think, why would the USA confiscate silver, when it is minting, and selling about 40 million oz. of silver Eagle coins?
Why would the USA confiscate silver, and make it "contraband" like marijuana, and thus, help drive up the price, when the US government (via JP Morgan) is desperately trying to keep the price down?
Hey, the war on drugs is a miserable failure. And if they can't get drugs out of the hands of lazy teenagers, what makes you think they will be able to get silver out of the hands of sober, anxious, gun-toting, 50 year olds, many with former military backgrounds who would be willing to fight to the death over their freedom and basic property rights?
Why would the USA confiscate silver, and jeapordize the franchise of the US Dollar, which it is gleefully using to print up the budget gap of $1500 billion?
If the USA confiscated silver, they would only get about 1% of the people's silver anyway, or less than $200 million, that's how much was voluntarily turned in during the last confiscation.
The US government can't confiscate silver! Why not? Because the people are not using silver as units of account in their bank accounts!
Confiscation makes no sense today.
Rumors of confiscation make sense. If they float rumors of confiscation, maybe people won't buy any. Maybe they can get people to think that it would be useless to buy silver, as it would just be confiscated anyway.
Hello! Silver has moved up from $5/oz. to $34 now. Has not been confiscated yet! But the dollar's value? Confiscated!
At every level, there were rumors of silver confiscation. Every year, this is my most popular question asked and answered. And it has never made any sense, except in the sense of a deliberate disinformation campaign to keep people away from silver. And if you know the fundamentals, you know that confiscation makes zero sense.
Confiscation makes sense only after silver hits $10,000/oz.!
So who is going to do the confiscation? Some census-taker type person?
Just give them chinese counterfeits.
One last thing: paper is already being confiscated by being debased and made worth less each and every day.
~Misstrial
Any gold? Food? Weapons?
A good start but not enough. Assuming you are in the US, you need at least a bag of junk silver coins (preferably dimes). I don't know the equivalents in other countries, if there are any equivalents. I think Canada has something similar, though.
For fucks sake guys, are you running coin shops or something?
Why? You have paper to sell?
I don't trade with manic paranoids.
FYI, I'm mainly allocated in physical gold.
Why not? You should be able to get all of our money away from us, since we are all a bunch of crazies with no grip on reality.
Except, of course, for the reality that my initial investment on silver is up ~400%, and my cost average is less than half the current price, around $15.
You might be interested in bromides. I sense a perverted, hyperventilating arousal of a kid that just earned his first serious money.
You might be interested in another iPad. I sense an idiot using ad hominem in an attempt to minimize those who disagree with him.
Gold can now be mass produced with current technology. Silver, on the other hand, has proven to be a harder nut to crack by the boffins working at the giant ring facilities.
I feel sorry for you.
You mean they have finally discovered how to turn lead into gold? Link? :-D
I'd like to know what others' thoughts are on this, too. I'm in the same boat in terms of holdings. I do have formed and projectible Pb stores with the applicable means of projection already.
A prudent and sober joe sixshooter should first have at least one 1k$ face bag of junk coinage and then as much minted 1oz rounds as can be justified. The first is for day to day transactions, the second as a store of value for larger transactions through such as dealers. Any gold holding should come after this.
Seasmoke; If the silver market is leveraged 100 paper oz's to one physical bullion oz as they perdict, your 300oz = 30,000 paper oz. (to put it in perspective) With all the shit going on in the world today, I cannot beleive how much attention is being given to Charlie Sheen. If I had his money do you think I would give a flying fuck what a bunch of media idiots thought about me ?No way I'd be out partying with the chicks too.
]
I have 'news' for you. the news is not the news anymore. take last night's ABC news program. charlie sheen got a sizable time slot. now how are his rants news? then jane russell. in a real new program that would have gotten a 10 second slot, not a whole featurette. see where i am headed....? the dumbing down of america is full steam ahead.
I agree, unless I was going to get paid for these appearance on the talkshows. Would Charlie Sheen be getting paid to be making these appearances on the talkshows?
My conspiracy theory: The government is putting Charlie Sheen up to this wild behavor. Just kidding...
He is suing the show's producer.So in actuallity he is using the media.
luk,
Flash!,now that nut cake Sheen(Meth head) is jobless, perhaps he can join Owhammys CZAR panel elites.
Great question, the number is something I'm still trying to pin down better. My current metric is one ounce per person per week. Obviously 52 oz. is more than enough to secure food for that person in one year, but you ned to factor in other needs such as toilet paper(seriously), fuel, water and its filtration, two good blades(long tang, no hollow handle shit) per person minimum, and medicine(antibiotics and painkillers).
If you've already been stocking the requisite supplies then your 300 oz will get you very far, but that should never discourage you from the tendency to guarantee even greater survivability for your family.
If you've already made bug-out bags, I'd suggest adding 3-5 oz in a coin tube, stuff the rest of the tube with strike anywhere matches and tape it shut.
If you haven't made bug-out bags or don't know what they are, a simple google search will return plenty of resources, get started yesterday!
Dark Ops bag for the day crowd -
- my fav bug-out bag and the one I have stuffed with gear etc:
http://www.nrastore.com/nra/Product.aspx?productid=SA%2022202
~Misstrial
Comes in 3 types, Uncirculated, Proof, & regular bullion. That message was up for months. They havn't been producing the "W" stampped "Uncirculated" versions so they could sell more proofs.
Harmonious is right.
There is a misunderstanding here.
Nobody cares that the US Mint ran out of Uncirculated ASEs.
Nobody buys those.
Call us back when the US Mint runs out of "bullion" ASEs.
The "bullion" ASEs are the silver coins that everyone is buying. Only collectors buy the "proof" and "uncirculated" ASEs. These coins are poorly named, and hence the confusion.
The us mint posted that in 2010. And they only ran out of the "uncirculated" ASEs, which are not the standard, bullion ASEs.
There are three types of ASEs: 1)proof, 2)uncirculated, 3)bullion (that is the standard type most people buy).
Here is a blog post from Dave from Denver, linking to your same link, on Dec 29, 2010
http://truthingold.blogspot.com/2010/12/us-mint-has-suspended-production-of.html
This is last year's news.
Just got me 200 ounces of 2011 Silver Eagles...all in cost $7,750.95 including shipping an handling.
Odd that the wire transfer for APMEX goes to JP Morgan Chase!?!?!
You want a guage of real supply and demand? Got to apmex.com and see for yourselves...
http://www.apmex.com/Category/982/90_Silver_Specific_Coins_By_The_Bag.aspx most products out of stock on this page.
It would be an interesting project for the man of leisure to plot the U.S. Mint supply/haltage announcements against the Ag spot price backdrop.
I visit the apmex site a few times a week just to see what they are asking. Apmex is one of the cheapest online dealers. Apmex has a lot of Sold Out banners for backdated SEs; and it appears to me the incidence of such banners on Apmex has increased with the spot price.
Also, 'uncirculated' is an archaism; unless they mean, 'unopened and unhandled' tubes/boxes.
You should check out Provident Metals. They are cheaper than Apmex. They have a different selection though they have most of the basics. Quick shipping, I have never had any problem with them.
I looked at Provident Metals buy in the terms and conditions there is some very disturbing language regarding differentials and how you own the risk and they own the profit.
US Mint is currently listing the "2011 American Eagle Silver Uncirculated Coin Subscription" at $25.95 per unit. Huh? Why so much cheaper than the bullion stuff you get from the coin dealers?
http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catal...
I know what a proof is, but what is the difference between Uncirculated and Bullion?
My view is that if the metal content is the same between the two coins (which they are the same) then there isn't any difference at all other than the coin finish:
"Struck on specially burnished blanks, this coin was first offered in 2006 and offers silver precious metal purchasers a collectible version of the popular American Eagle Silver Bullion Coinand features a finish similar to its bullion coin counterpart."
Someone at the Mint needs to update the price. If you were to call them and order the price would most likely be the same as the bullion silver coin since the silver content is the same for both. At Gainesville, the price for the Uncircs and the bullion silver coin are the same.
~Misstrial
This coin is not presently scheduled. Meaning, they might not make it this year. Additionally, they reprice the coin one month before it is released, so the actual price would be made available at that time. Hope this helps.
I just subscribed and un-subscribed with the US Mint to try to get that price; which for some reason I hoped was a loss leader.
Upon discussing it with a rep and learning that 25.95 is just a marker price, and no way I was getting a fill with spot nearing $35, I pulled the subscription.
I'm moving to Nevada because its the Silver State
Had to junk myself on that
I heard Math Man was gay and couldnt even perform basic math.
The New 'G7';
Gold (Silver, Platinum, Lead, Digital Scale, etc.)
Groceries (hoarded Storage, cooking, preservation tools & skillsets)
Garden (Victory, post-Apocalypse, Eden; & seed to make more Groceries)
Gas (Diesel, Propane, Kerosene, Natural, Wood Lot; Generators, etc.)
Goomba (Grass, Gin, Tobacco, Lidocaine, Vioxx, etc.)
Girls (+ Boys to recreate more Girls and Boys)
God (one that speaks for Himself)
I would replace the last one with Ganja, it's real and way better.
'Grass' falls under Goomba 'G' category as 'Meat' falls under 'Groceries'.
God has led me to understand that He is NOT Ganja and He isn't sure if Zedge Hero exists.
Word Up on that One ZH
The mint may run out of silver but the Fed will never run out of paper.
03/02/2011 - The day ZH jumped the shark?
Math Man: Please produce a list of every SLV silver bar serial # (preferably with attached photo showing them in SLV vault), or STFU. Just because somebody says every bar is verified doesn't make it so.
perhaps we should read what T is saying twice. I found new information that is very valuable. Hell, I'm a fish and I can see it.
How do all you gold and silver bugs expect to spend your currency when the dollar crashes?
Are you really gonna give $30.00 worth of silver for a candy bar?
I ask for I own both gold and silver shot because of the smaller pieces, I believe, the shot will be more conducive to bartering in case of a collapse.
I really hope we don't get to that point,but just in case I have over 1000 90%,80% dimes and quarters. They don't call them survival bags for nothing. I'll save the big bars to throw on the bank managers desk to pay off the mortgage if I need to. who knows maybee 500oz's will buy a nice house?
Not for a candy bar, but silver for large buckets of grain, lug of fruit, gasoline, heating oil.
Gold for bigger stuff such as purchasing raw land or developed property (Conrad Hilton bought his first hotel with 1 gold coin), medical treatment such as childbirth costs, surgery, dental care such as crowns, root canals, extractions with anesthesia.
~Misstrial
This is not true. Conrad Hilton bought his first hotel (the Mobley) in 1919 for $5,000 of his own money, $15,000 from friends, and a $20,000 bank loan.
Source:
http://www.kipnotes.com/hospitality.htm
Ha! so you think a grocer is going to take a shinny nugget of precious or gold? You had best get some graphite molds and melt it into ingots and stamp them properly and pray you find barter with one who knows; the transition period is going to be fokking ugly and i hope it never ever reaches these states united.
During the Israeli hyperinflation most shops took both dollars, gold, and silver for their goods.
It doesn't take long for the paradigm to shift. Certainly not as long as a lot of people seem to think. It just has to hit critical mass. Hyperinflation will bring us to that critical mass quite quickly. Hopefully before too much damage is done.
You'll take your Gold or Silver to a merchant and set up an account or "Tab" with it. As you purchase items with it the amount of your Tab is reduced by the amount of stuff you get. Barter will also be in effect so when you bring in chickens, eggs, or other such items the merchant can sell your tam will be increased. Watch any "old" Western movie and pay attention when they are in a general store talking about their Tab.
Bingo!
~Misstrial
Note to ZH -- the mint is producing 2011 eagles right now. This news is from last year.
Before everyone wets themselves with excitment over how fast silver is rising, ask yourself this question:
If silver spikes hugely and I want to sell, how do I do it?
If you buy & sell face to face, be sure your potential buyers can handle big $$.
1,000 eagles @ $50 each - can your buyer handle that in cash? Would you trust a check?
Buying the coins is one thing, selling them for cash is quite another.
PS: I own only 100 silver eagles and I feel that's enough. If I'm worried about the end of civilization, I'll buy 9mm and .40 cal handgun ammo in large qty., along with a few dozen of the matching pistols. Also, 12 guage shells and the pump shotguns to fire them. A good quality semi-automatic, high capacity pistol (with ammo supply) is worth more than it's weight in gold in a real crisis.
I would much rather have lots of ammo, water and food in a societal collapse rather than too much precious metals.
why on earth would you want to sell all your coins at one time
any one with the mentality of a shoot um up cowboy,
doesn't realize his own limitations ,
you hold the silver because it goes up in value , while the 11.50 an hour you make pedaling swill goes down .
take the silver you must have bought at 4,00 because your such a wish mouth off.. 10 for 40 dollars ,
take the same 10. get 500.00
rinse repeat,
the bag of junk 90% take a 20 halves out of the sack, you gotta untie the bag. rinse repeat /
in the mean time shoot the dang squirrel in your waking hours and cook it with a big old lb of lard . enjoy
Why in the hell would you need that many guns? Don't get me wrong I think having guns and lots of ammo is prudent and wise, but for cryin out loud you can only shoot one at a time unless you are the Termnator. What about after the collapse? You're just a poor man with a lot of guns and no real money!
And what if we don't get a full on collapse, but things just get very "uncomfortable" like a prolonged stagflation? Still don't want lots of precious metal?
If society collapses, a new handgun and some ammo is a very valuable commodity. It's much more valuable than gold - if things are really bad. I'm just saying that you don't need more than a fanny pack of gold, but you need a backpack of ammo - if you want to not been swept aside by the starving hordes as they loot their way into every undefended home. All these people who think that our currency can collapse into hyperinflation without societal collapse and widespread rioting/looting/lynching/terror/rapes/etc., haven't thought things through well enough. By all means, keep some precious metals; but be sure to also have several footlockers full of ammo and extra weapons. Both to use and barter with.
math man
copying the crib sheets on the morning e-mail troll site,
collects his cash bribe settlement on fridays .
present troll payout ,, 2 bucks a day , and all the twinkies he can find behind the 7-11 store.
this is probably a stupid question. but why are the making 2010 coins in 2011?
I'm guessing you never bought a new car, right?
i mean....i thought when a coin had a date on it. it meant it was from then. i mean is a 1992 merlot also maybe from 2007? or whatever you get my point
Can someone provide some analysis of what these delivery intention indications mean? Is there an intepretation for a lay person like me?
Thanks!
http://news.tradingcharts.com/futures/2/5/154306252.html
Will people stop buying silver at $30+? I think we have the answer to that question after looking at bullion sales the last several months.
Slvrizgold