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US Mint Out Of Not Only Silver But Gold American Eagles As Well
Update: After following up with the Mint, any shipments and deliveries of American Eagle 2010 edition both gold and silver are TBD and the mint has no idea on when these will be received if at all this year. A small shipment of American Buffalo gold coins will go on sale on June 3 at noon. The mint expects these to sell out promptly.
Earlier we reported that the US Mint has run out of American Eagle silver coins. It turns out the Mint is also out of gold American Eagles. Here is the US Mint page linking to various American Eagle subcategories.
And here is the specific "availability" of:
1. American Eagle Gold Proof Coins:
Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins. Currently, all available 22-karat gold blanks are being allocated to the American Eagle Gold Bullion Coin Program, as the United States Mint is required by Public Law 99-185 to produce these coins “in quantities sufficient to meet public demand . . . .”
The United States Mint will resume the American Eagle Gold Proof and Uncirculated Coin Programs once sufficient inventories of gold bullion blanks can be acquired to meet market demand for all three American Eagle Gold Coin products. Additionally, as a result of the recent numismatic product portfolio analysis, fractional sizes of American Eagle Gold Uncirculated Coins will no longer be produced.
Update: Due to the continued, sustained demand for American Eagle Gold Bullion Coins, 2009-dated American Eagle Gold Proof Coins will not be produced.
2. American Eagle Gold Uncirculated Coins:
Production of United States Mint American The United States Mint Update:
Eagle Gold Proof and Uncirculated Coins has been temporarily suspended
because of unprecedented demand for American Eagle Gold Bullion Coins.
Currently, all available 22-karat gold blanks are being allocated to
the American Eagle Gold Bullion Coin Program, as the United States Mint
is required by Public Law 99-185 to produce these coins “in quantities
sufficient to meet public demand . . . .”
will resume the American Eagle Gold Proof and Uncirculated Coin
Programs once sufficient inventories of gold bullion blanks can be
acquired to meet market demand for all three American Eagle Gold Coin
products. Additionally, as a result of the recent numismatic product
portfolio analysis, fractional sizes of American Eagle Gold
Uncirculated Coins will no longer be produced.
Due to the continued, sustained demand for American Eagle Gold Bullion
Coins, 2009-dated American Eagle Gold Uncirculated Coins will not be
produced.
For those looking for Platinum, the 2010 on sale date is still TBD:
In 2009, the United States Mint introduced a new six-year platinum coin program. This new series explores the core concepts of American democracy by highlighting the Preamble to the United States Constitution. This program will examine the six (6) principles of the Preamble as follows:
1. 2009--To Form a More Perfect Union, SOLD OUT
2. 2010--To Establish Justice,
3. 2011--To Insure Domestic Tranquility,
4. 2012--To Provide for the Common Defence,
5. 2013--To Promote General Welfare, and
6. 2014--To Secure the Blessings of Liberty to Ourselves and our Posterity.The themes for the reverse designs for this program are inspired by narratives prepared by the Chief Justice of the United States, John G. Roberts, Jr., at the request of the United States Mint.
2010 on sale date: To be determined.
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Johnny you keep calling it a peak(many have said the same thing when gold touched $1000 -I just don't see it . Gold 1500.00 - 2000.00 High probability gold Majority of people aren't in gold period if you talk to them about it they generally think you are nuts or say it is 2 expensive and they missed the boat . Also, I will agree with you on one point for now Gold and silver aren't the only game in town .
No matter what happens with currencies gold will always buy what you could buy before . If you can buy 1200 loafs of bread today with an ounce you should be able to buy 1200.00 tomorrow with that same ounce even in a deflationary price situation . To protect wealth it is perfect .
If think the 1200's is the peak ... well, I'll bet you all the gold you have.
Yeah, I began buying in 2003 at 311.
Same with me. Friends of mine were calling me an idiot for buying around $500/oz. They tend to mutter and look away now that the gold's value has more than doubled since I bought it. I think gold has got a good bit to go yet before it reaches a peak.
bad bet bravo has no gold ,, probably no assets.. a lap top .. out of work student , on unemployment ,, food stamps .. and spouting Keynesian nonsense ,, trying to welch his place along side mises.. and a bevy of very market savvy people dines , russell , (sinclair who called for 1600 gold 7 years ago) .. (he also called for 890 gold in 1975,,) you were still a possibility .
and you probably have not read and studied the likes of reisman , tom woods , and even clinton who has stated that the problems we have today would not have happened if we had kept a gold standard ,
I disagree with you on several fronts. You cannot print so much more money before hyperinflation kicks in. In fact, I am willing to bet that when the existing money makes it into the system we will have inflation, hyperinflation, I don't know, but it is clear that this is the most whacked out monetary policy ever tried. The only other countries who have ever ventured down this path all ended badly, you know that to be be true. The issue is the banking system was insolvent so all the past printing simply replaced money that was gone, literally vaporized.
We are suffering deflation right now, that is clear and, I think, everyone agrees that is the case. However, very few people understand inflation or how it works, including our CB's, I am not saying I do either, what I am saying is inflation is a fat tail event that happens at an ever increasing pace when we do massive debt expansion. It started in the 30's and we did not see inflation until the 50's. We did it again in the 60's and it showed up in the 70's. We did it again in the 90's, but for the past 20 years were able to export it to other countries as they began to buy our debt. However, that is, IMHO, about to end and I believe that the Fed will, at some point, have no choice but to monetize more debt which will destroy the dollar, creating inflation.
I think you will be surprised by how little printing it will actually take to blow up the dollar. Do I believe gold is in a bubble? No. Why? Because it does not share the same characteristics as other bubbles and there is a finite supply. Other bubbles typically do not have a finite supply, like stocks. Gold has a demand curve that is growing, not shrinking so how is that a bubble? Gold is the counter play against currency inflation, right? The Fed by its very nature is designed to increase the money supply, create inflation, by 2-3% a year which is bullish for gold on a long-term basis. Gold works and is an asset class, I do not know why you don't like it and I do not care that you do not like it. I do and most people do. However, I see much more value in silver.
Oh, as far as banks shorting gold, what the hell else is new? Your posts get flagged as junk because you're an ass, not because of the content. Freaking keyboard tough guy.
FYI - I believe stocks are in a bubble based on deflation they are trading at much higher multiples than they can support. If you believe inflation is negative you must believe to the aforementioned statement so I hope you are short at least.
A dollar in 1913 when the fed was created translated as about $21 to an ounce of gold.
After nearly 100 years of the Fed and Congress raping your dollar, you find that -- according to the "offiical version" of inflation (CPI), it takes $462.21 to equal that old $21, a great majority of that run up post the end of the gold anchored dollar in 1972.
John Williams at Shadowstats pokes holes in CPI. Meanwhile, real gold trades at $1222.
I think inflation is a lot worse than you're hinting at above. Moreover, you fail to consider the horrendous malinvestment printing money produces. It redistributes from the productive, self-sustaining economy to the parasite economy. It's the equive of square rooting your seedcorn over and again by eating a larger and larger portion every year. Eventually your economy starves.
http://www.bls.gov/data/inflation_calculator.htm
A keyboard "tough guy" eh? LOL. WTF ever. I've never threatened anybody here. I can't say the same for some of the other posters though, who I would happily meet in any dark alley...
You can say whatever you want about my posts though, but the content is never challenged. I merely make fun of the people that have no idea what they are talking about. Gold to increase 40X? Yeah, maybe in 400 years. LOL...
As far as inflation and deflation goes, inflation is increases in price, and deflation is decreases in price. It really is that simple.
If we're in deflation mode, why is gold being priced for inflation? It shouldn't be.
Also, the money has already made it into the system that has been printed. What do you call buying mortgages?
The point is that the money that has been printed is necessary to support the prices that ALREADY existed.
The money being printed isn't raising prices, it's keeping them less than steady. Without that money being printed, you'd have a freefall in asset prices.
The money printed is keeping assets from declining, not causing assets to appreciate. The money is already impacting the system as it is.
How many assholes are you? JB posts are coming in waaaaaaaay too quickly.
JB posted 33 times in ~80 minutes. Do the math - most of them are not short posts. It would be pretty impressive if you didn't have multiple computers logged in.
This article got pumped and dumped.
Tyler, Marla...freedom of speech is not the same thing as freedom from abuse.
Thank you WW for pointing out these salient facts.
I think we have all the evidence we need of the character and motivation of this troll Johnny Bravo, neither of which are honest or good.
Zerohedge is clearly a CIA backed effort to identify those who own or are more likely to own gold for later confiscation. Jonny is lead agent provocateur and is succeeding in pulling us out of hiding.
Damn their evil genius, damn them to hell!
I would think it would be much more effective for them to just hack into the customer lists of APMEX, Monex, Kitco, Tulving, and all the other major online dealers. Not that I think they are above doing what you suggest they may be.
Maybe Johnny Bravo is "slimvirgin" working under an alias.
the guy has a crip sheet ,, types up the several by rote remarks then copy and paste them .. no matter the subject its content or what's happening in the world.
probably hired out as a hack ,, when he answerd a troll add, and i=out of work zits ,, will do any thing for a couple of bucks .. even make beleive
A hired troll, hmmmm, an interesting theory.
I buy it. Not only that, but I submit that Run-on Marla probably hired him.
It's all about the Google AdWords hits, bitches!
I am Chumbawamba.
The money being printed is also destroying wealth via supporting shitty assets that are overpriced at the expense of the real, productive economy, all to prevent bondholders from taking a well deserved bath for the stupidity / lack of oversight and understanding of economic gravity 101.
I am well versed as far as inflation and deflation is concerned, I am not so sure you are. It is not "just that simple" I am afraid. If it were, well, you would be the smartest man in the world because it is one of the most complex issues known to man. We printed mountains, considering the restraints, in the 1930's and what do you know, no inflation. That is just one example of how you simplified a complex issue. Instead you boiled it down to one comment I made, keyboard tough guy, which shows the merit of your argument.
We have falling prices now, it is really that simple or have you not noticed that only a few areas in the economy have pricing power? Ben is trying to reflate, but it is failing and I concede it is not full fledged deflation it is certainly disinflation at this point moving towards deflation.
Why is gold going up, simple, because currencies are not trusted because of the printing. While it is not inflationary yet, it more than likely will. None of that printed money made it into the system and you proved to everyone you know nothing. M3 is declining, credit is contracting and banks are hoarding cash and financing the government. Wages are stagnant so I am not sure where you think the money is making it into the system, unless you think the banks are the only system in the world, which shows a lack of knowledge of monetary policy, but that is not the case. Gold prices is a vote of no trust in government's around the world, currencies and, sure, future inflation. That is what you must not get, gold is more than one thing.
How printing money is keeping prices "less than steady" is beyond me, it would keep them steady or, in this case, inflated. There is no doubt that many mortgage backed securities are over valued and trading at a premium because the Fed bought $1.5T worth of them. If real price discovery were allowed you would find the real value is far less so one can make the argument that some asset inflation exists, I do in the case of equities I just call them overvalued though.
The money is impacting the system I will concede that, but it is not in the way you state as you give it both ways... pick one. Ah, nevermind I won't even look back at this, not worth it. I will tell you what, you short gold and I will go long, let's see who wins.
I wonder what you think of a theory that someone emailed me today which is that there might not be that much inflation experienced in the U.S. itself from the ministrations of Helicopter Ben et al. But a significant amount of inflation will occur overseas. This guy's theory was that dollars and dollar denominated debt have and will proliferate so much in China and other places that they will actually experience significant inflation as a result of the Fed. He argued that this was especially true of China with its explicit peg to the dollar.
I thought this was an interesting theory. Does it make sense to you and others here?
Like I've been saying, you don't buy fire insurance the day AFTER your house burns down. This is precisely what goldbugs are doing.
Perhaps it's your view that the house has already burned down. Many people however think instead that the kindling is actually just now being piled around the house:
http://img401.imageshack.us/img401/5363/graphfeddebtrecent.gif
Well, that's what people thought when Reagan printed all that money in 1982. Things were fine for a long time, until the outright fraud of the 2000s.
I can see the argument you are making, but I don't agree. That's fine though, we are entitled to our differences.
So you're saying you think that upward trend is sustainable?
(Noting that it's a trend of relative, not nominal, debt)
You, need to get a job...... or else go back to stocking those shelves. !!!
That's a pretty old announcement. The update refers to 2009 Eagles. If memory serves me correct...and it's not a sure thing at my age....2009 was so last year.
Well it is a recent announcement, maybe its a typo on the mints part? They wouldn't be producing 2009 coins still anyway either. So the announcement makes no sense.
Back to the subject: if the Mint is still making silver "bullion" coins, then where are they? I've scoured that site, and all links lead to the disclaimers in the thread headline. Why can't you simply put, say, a 1000 "bullion" Eagles in your cart?
You have to buy the bullion coins through the authorized dealer network. That's why dealers have coins.
The US Mint does not sell directly to the unwashed masses. They sell to PM dealers, like @pmex, local coin shops, etc. You gotta go to the PM dealers.
Love the name Gordon.
Bullion must be purchased though outside vendors. The mint only sells proof and uncirc.
http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=lookup
Ron Paul on Fauxnews:
"What would you rather do would you put $10,000 of gold in a shoe box or $10,000 one dollar bills in a shoe box and wait for 5 years?"
http://www.youtube.com/watch?v=sK8wTTuhV4A
With gold prices at current levels, you'd probably do better putting FRNs in and waiting five years.
At normal rates of inflation, you'd lose 3% a year on FRN's. Holders of gold will lose much, much more than that 5 years from now.
Forget the shoebox, put $10,000 of pre-1982 pennies in a 55-gallon barrel and wait 5 years.
They will never be worth less than $10,000, and right now they are worth 2 cents each.
Though you can buy them all day long at any bank for 100 per paper dollar.
Oh that's right, it's illegal to melt them and sell them for their metal value now.
Wonder why that is?
Following is a brief chronology of the metal composition of the cent coin (penny):
(Note: In 1943, the coin's composition was changed to zinc-coated steel. This change was only for the year 1943 and was due to the critical use of copper for the war effort. However, a limited number of copper pennies were minted that year. You can read more about the rare, collectible 1943 copper penny in "What's So Special about the 1943 Copper Penny.")
http://www.usmint.gov/about_the_mint/fun_facts/index.cfm?action=fun_facts2
Thanks for the breakdown in alloys.
The occasional rejects from a Ryedale are more understandable based on the varying amount of zinc versus tin in the pre-1962 pennies.
The 1943 steels are fun to catch on a magnet too!
Rocky, I think it was the Chumba himself who pointed out that hoarding nickles would be a better bet than pre-1982 pennies. Because they are a little hard to find & sort.
All of my nickles are going into 1 liter water bottles.
coinflation.com
Yep, nickel is still the composition of the 5 cent piece, whereas cents are pretty much worthless as far as copper content. (I know they cost more to make but most of that is in the minting process cost.) Don't get caught melting those nickels down! If things don't work out you'll at least have some nice boat anchors.
Man, I REALLY wish they would just stop minting those damned meaningless one cent and five cent coins already! Even when I was in Mexico several years ago, they didn't bother to use, or even pick up off the ground, any coins worth less than 10 US cents. Why are we still hanging onto them for dear life? Well, I can probably tell you why: because our lying sack of shit federal government cannot bring itself to acknowledge the ongoing depreciation of the US dollar that THEY are causing, and have been causing for the last 100 years.
Seriously, do we really need any coin worth less than the quarter? Prices can always be rounded to the nearest 10 or 25 cents --- countless other countries have dealt with the same situation, some a number of times.
Our US coin and currency system has not been updated one bit since 1930, when the dollar was worth roughly 25 times what it is today. I don't see that anyone was calling for 1/10 or 1/25 cent pieces back then, so why do we need their functional equivalents today?
Keeping up with inflation, the smallest coin today should be the quarter dollar, the smallest bill should be the $20, and they should be printing $200, $500 and $1000 bills as well.
As many of my foreign customers have impressed upon me, and as I have learned travelling around the world, the United States has one of the LEAST efficient and logical coin & currency systems in the world today, if not the very worst (I don't know about North Korea and Burma). But I suspect that this is for a very good reason: to increasingly force the American consumer drone into using trackable credit and debit cards instead of cash. God forbid that anyone STILL demand any measure of financial privacy in their lives!
Realistically speaking, there is no need for the cent. As you say, amounts can be rounded up or down to the nearest 5 cents. The smaller denomination coins are needed even though I see your point. There have been many discussions over the years about stopping the production of the cent, but the same forces that prevent that are the ones that prevent the U. S. from doing away with the $1 FRN. Most countries have a $1 coin that works just fine. The unions are the reason! Look no further. I've followed many years of articles in the numismatic publications and the unions are the final word. The Bureau of Engraving and Printing has its hands tied, as does the Mint.
Well, since we don't have a functional, circulating half-dollar or dollar coin (for no good reason), if we follow this insane inertia of the Mint and BEP to its (il)logical conclusion, we are going to end up with a strictly paper money system before too long, and having experience such a system more than once, in actual practice it SUCKS! Trying to use only bills as cash is a pain in the butt, as the very low-value ones are inevitably worn, shredded and falling apart, hard to keep track of, and just generally a nuisance.
We need to get rid of both the $1 and $5 bills, at least, if not the $10 as well, and replace them with coins. Doing anything else is absurd --- as is trying to hold the physical cash system static even as the dollar loses 97% of its value.
Just keep in mind: our smallest bill today, the $1, has the value of only about 4 cents in 1930 dollars, when the $1 was also the smallest bill in circulation.
Au contraire, dude! Halves and dollar coins are available at any bank. I don't even have to ask for them any more. They see me and know to give me change in halves, dollar coins, and $2 bills. That's all the change I carry. All other coinage goes into the old mason jar for later deposit to the bank. I leave them for tips and such. It really gets the checkout gals going at the local Walmart. Had one to call over the floor manager to pass a Kennedy half. Waiters love the $2 bill. One lady I see from time to time buys them from me for double face -- all I have in my pocket! Gives 'em to her kids. To each his own.
Here is another tip for you: Just put all your loose change in a jar or whatever. When you have a large amount just ask your bank for a cloth coin bag. They will give you the bag, take it home with you, and just dump your coins in it, they do have all that high-priced equipment after all. Put a deposit ticket on top inside the bag. Give it to the teller and they will do all the counting and make the deposit to your account. They do NOT charge you for doing this. Ta-da! None of that paper roll crap. I would not try sending it thru the pneumatic tube, however. That beats hell out of paying a percentage to the coin counting rip-offs in the local Kroger store!
Yes, we get dollar coins from the vending machine at work.
The president coins and a the sacagawea's. Sometimes even a SBA.
Its fun to pay with them because some people freak and ask me if they are for real hahaha
Yea, that's exactly what will happen. Gold will drop just like it did last time. And inflation will remain at 3%, just like it's supposed to do. While a return to the mean is not the worst investment philosophy, timing is the most important and oft neglected portion of this argument.
Gosh, it's a good thing the Fed has the whole inflation thing contained.
http://upload.wikimedia.org/wikipedia/en/d/d7/Value_of_US_dollar.gif
http://upload.wikimedia.org/wikipedia/en/c/c9/Dollar_value_chart.gif
Johnny Bravo - please come back and visit us in the years to come.
Don't be like those other "getting rich" traders who dogged gold @ $600/oz., and dogged it again @ $700/oz., and again @ $800/oz., and $1000/oz., and now $1200/oz.
Please don't be like those guys. Don't disappear when gold goes higher. We've all learned soooooo much from your 'gold ain't groceries' philosophy. You FRN guys never stick around long enough to truly enlighten us... hmmm, I wonder why that is...
"With gold prices at current levels, you'd probably do better putting FRNs in and waiting five years.
At normal rates of inflation, you'd lose 3% a year on FRN's. Holders of gold will lose much, much more than that 5 years from now."
Well thank you Johnny now that we know what you NEED us to do. We can do what we think is best.
Just an FYI:
The proof and "uncirculated" coins are not the same as the production coins. They are production runs for collectors. I know the word "uncirculated" is confusing in this context (it's not like you find them in your change), but these coins are produced for the pinky-in-the-air crowd.
According to the announcement, the true "production" coin is still being made.
mark,
As you likely know,
Proof Coins are made with hand made dies, and polished to the Nth degree..they are NEVER touched w/human hands(bare).
Uncirculated, (in Eagles sense,likely BU), means they are separated by hand, and not allowed to be touched, or sold with their bullion coin cousins.( which head down the chutes in piles).
Both Proof, and Uncirculated, are sold as such, and command much higher premiums than bullion.
Thanks for the clarification, Dos. I was not sure what defined "uncirculated." My point was just that the gold eagle announcement was not referring to the basic bullion coins.
The mint has suspended production of bullion coins in the past, and that's your buy signal. I misread the Silver announcement earlier today.
What again?
http://www.businessinsider.com/us-mint-runs-out-of-gold-coins-2009-11
Not trying to be a spoil sport....but if you look at the announcement, it says 2009, not 2010. It was this way all last year and they haven't updated their website. The only way to get some coins is via a secondary dealer.
How about this... I'll give anybody here who thinks that FRN's are worthless 50 cents worth of gold for every dollar in FRN's you own.
Deal?
I mean, since FRN's are worthless and all...
Sure, for every $20 US gold coin you give me I'll give you $40 generic 1-dollar FRN's.
You can start with some of these...
http://www.apmex.com/Category/227/2000_Double_Eagles_Saint_Gaudens_1907_...
How about this - since gold is so overpriced, I'll buy it from you for half its current FRN price. Hell, I'll even buy it for 3/4 its current price. It's just losing you FRN's the longer you hold it anyway.
But you'd be trading for gold AT THE PEAK
what happens when you get to five bucks of gold , that is the limit of your assets .
and all this trading prowess . a true trader would have your for lunch . first get a job .. come back as a productive member of society ,, moving your mouth fifty times in a thread of posts ,, shows anal all over .
and prima facie evidence of troll dumb.
my take is you have not a pot to pizz in . have a large opinion of some future face clear of zits ,, and smiling at the customers as they line up for coffee at a Starbucks . If you qualify
how about this zit head bravo'\
lets bet gold 1350 ,,
if it goes down and stays at 800.. i send you the 800 bucks .. just leave your post office box at the local YMCA. a real winner for you .. as your opinion is so sound and compelling
if gold goes to 1350 you spring for the gold , send it to my office ,, i will supply the address as we get closer to that number ,, nothing to lose here ,, as you know that gold is over priced at 1200 err 1230
"Get'em quick because they are going fast" is the oldest merchandising ploy in the book. The mint is periodically unable to keep up with demand. Maybe, maybe not.
See my post above....it's been this way most of last year and all of this year. The mint stopped producing fractional (1/10; 1/4; & 1/2) gold American Eagles last year. I purchase a little something every year for my daughters and I have never seen anything like this for at least the past 14 years.
Smart planning. Sounds like you are way ahead of the sheep and trolls.
The Law of Parallel Existence:
Track A Does Things One Way.
Track B Does Things Orthogonally To Track A.
A and B Can Not Communicate and Often Battle.
There is No Way to get through.
End of Story.
After saying A+B = C how many times does it take?
It never gets through so stop trying.
It also might be the case that they are a pro MF.
We have a small enough time in this place.
diagnose B, junk them, ignore them.
Is there ignore filtering?
Here's a suggestion. Take your profits from gold, and invest them into english and grammar classes. Then your post wouldn't look like a ninth grader from India wrote it.
Read carefully
DEFINITION OF NOTE 1. Written undertaking by one party (the writer or maker) to pay a specified sum of money to a named party (the payee) or to the bearer (holder) of the note, on demand or on a stated date.
Notice how money is in the definition ? Your whole argument is fucked because you think that the note is money. The note is not money.
what now ? is Dictionary.com a gold bug site ?
Huh? Negotiable notes can be used as money.
Some of the biggest dolts on here parade around spouting axioms like GOLD IS MONEY. No it's not. Gold is a freaking metal.
Money is whatever people agree it is.
Are you saying that precious metals cannot be money? How do you explain the tons of junk silver that is available? I can use them any day of the week as money. It would be foolish to do so, but the appearance is the same as a dime, quarter, or half minted just yesterday. A gold one ounce Eagle has a face value of $50 which I can legally require anyone to accept in payment of a debt. Again, foolish to do so. In either case the transaction involves money which is precious metal. You want to revisit your conclusion?
Looks like I am replying to myself -- chasing my own tail! That's easy for a coon.
...
...yikes! Replies are not showing up under the original comment.... go figger.
Haven't bought in a while, but when I was buying it seemed as if they ran out of proof and uncirculated coins every year. Nice try, though.
Mako is so fucking stupid, it hurts my feelings.
Gold and silver are money dipshit. Just wait until QE 2.0 3.0 4.0 ad nauseum. This shit won't end until paper money is laughed at. History is my guide, fucknuts.
Gold and silver are NOT FKING MONEY.
They are metallic commodities.
what is paper then ?
what about virtual digets imput onto a computer screen ?
You fiat bugs, like Aron Burnette have it backwards. Paper has money because people think it does, not the other way around.
Look at this. lol http://www.youtube.com/watch?v=6HIebJEsxUs
"Gold and silver are NOT FKING MONEY. They are metallic commodities."
They are the only metallic commodities that are bought/sold/hoarded by central banks. But they are not money, oh no... because central banks are well-known for their odd habits... knitting, baking pies, hoarding metallic commodities...
The troll hunting has been especially easy today. We need a real challenge. These FRN/monetarist tinfoil hat-types are such easy prey.
Those central banks must keep all those tons of gold & silver around just for decoration, or ballast.
Gold/silver NOT money? Do you realize how stupid you sound?
Really disapointed that Tyler is posting this garbage with these false headlines.
Proofs and Uncirculated direct sales are frequently suspended. Bullion is still being minted. No one is out of gold or silver.
Mr Bravo,
It would be wise to wait for the trend in gold to reverse before shorting. Trend changes occur slowly. Right now the trend in gold is up. It would be wise to wait for a pull back to it's 200 day moving average to buy gold. That would be around $878.00. I would not buy gold right now.
Uptrends "technically" change when the price dips by fractions of a penny. It's a matter of timing until you realize it.
How can the 200 day moving average be $878, when the price of gold was never anywhere near $878, much less ever below that figure, in the last 200 days?
LOL, sounds like Johnny Bravo is sitting on a bad short.
johnny bravo is setting on a bridge waiting to jump in the water as a troll to grab the legs of folks who work ,
resume ,, zit face... out of work ,, still in community college,,, one of 35 million on food stamps , spouting ad nausium fairy tails of a suspect typical 29year old .
rejected on the last date ,, as the date had to pick up the check for the 5 guys burger and frys
LOL again! Don't ever leave us dumpster.
Supply of eagles in coin shops seems to be good. I've been buying 1/10oz gold Eagles and 1oz silver Eagles all year, and haven't had a problem with supply. I haven't seen any signs of panic-buying, at least in my area.
Do you buy the coins one at a time, or wait till you have enough for a certain quantity of them?
Also, why 1/10oz gold Eagles rather than 1ozs?
I generally buy the gold coins in groups of five (though it depends on how much cash I have on hand to buy them with).
I buy the 1/10oz coins because they are more negotiable. In a high-inflation environment where I'd need to exchange gold for currency, I don't want to have to sneeze off a whole ounce of gold on currency that will almost immediately begin to devalue. I'd exchange it 1/10oz at a time, at whatever the prevailing rate is.
This is also why I buy lots of silver Eagles. Easy to buy, easy to hold, easily negotiable for small purchases or currency-exchange.
Hell of a premium your paying there..........esp if you buying lots of eagles..but, it's Yo moneeeeee.(((;
It's worth it to me -- I figure that I'm probably paying as much as 10% over spot, but I've *already* more than doubled my money on gold that I bought years ago, so it evens out. I don't buy gold for investment purposes, but as a hedge: therefore, the premium is worth the peace of mind. I've thought about buying jewelry or some other form of gold, but I'm afraid of getting burned -- I'm not knowledgeable enough to make a smart purchase in those areas. Eagles are "safe" in that respect (or maple leafs, or pandas, or whatever). And I've probably got a slug or two in my hoard -- I haven't had all the coins assayed in years.
hell of a premium ,, sure is as gold goes to 1650 ,, and the turd buck goes down like a sinking ship
the premium you will pay not being in gold ,, will make your eyes water .
bought in at 300.. some clown said gold would never go beyond 400 in the coin shop.
not getting the eagle or krugerrand at the dealer sales price is a tell of ignorance or small change .
on the sale side the difference will be made up .. in the future as the sell to dealer will be higher than spot .. look at colorado golds buy back price already above spot .
pay 20 bucks for a movie 7 bucks for popcorn and won't spring for a 5 percent fee for gold , or all the other foolish buying habits ..
gold will be a life line ... what is that worth
I think similarly to you Monty. I once bought some 1/20 too but once is enough.
Silver on the other hand I will buy just about anything. Dimes, quarters 90% and 1/2s, 1oz, 2 oz, 10 oz...
I see your point about the premium on smaller denomination Eagles, but keep in mind that whatever your premium is now you will recover when the time comes to "spend" them. The premium ratio will remain the same.
I have a long-time friend who brought me some junk silver a couple of years ago. I paid him full spot for it. He looked a bit smug about his selling at that price in silver. Today I think he'd like to have it back -- but it ain't happening.
Buck up, Monty. The high-rollers can buy whatever they want. Your lower-denomination coins will retain the premium you pay. I bought a roll of 1/10th oz eagles for sale on eBay about 5 years ago. (That's 5 ounces.) Ended up selling only half of them when it occurred to me that I was giving away a soon-to-be-realized nice premium. I still have a little over half the roll and I'm hanging onto them!
Maybe because he's broke. Jeez man, show a little sympathy.
Gold:Dow parity at 5,000, bitches! Looking for it in 2012 as that would be the most inconvenient time and the world continues to get more inconvenient. However the right wag-tailing 'geopolitical event' (er war) could bring it on any day.
You don't have to believe me but I am a very good guesser. No mysteries in my system: just top quality guesswork from a synthesising mind....
The Borg has spoken.
"You don't have to believe me but I am a very good guesser. No mysteries in my system: just top quality guesswork from a synthesising mind...."
lol -- I have your exact system, who woulda thunk?--I read David Rosenberg every day.
www.gluskinsheff.net/articles.aspx
- Ned
Ding ding ding ding. Wrong.
Gold whatever wherever. There won't be a centralized market.
Dow- GONE!!!
They are taking the cake and eat it too approach and it's going to get the market shut down. Switched off and closed up.
is this just an old story from the mint or is there delays on 2010 !!!! mintage
Anti gold folks remind me of a girl in 6th grade who used to ignore me. Every day when school started, and again at recess, and once more walking to the buses, she would go out of her way to tell me that she was ignoring me.
Damn that was a tough Captcha
MINT RUNS OUT OF GOLD AND SILVER!!!
SKY IS FALLING SKY IS FALLING SKY IS FALLING!!
Aurum advisors has plenty at bid/ofer of only the bargain-basement price of...$80
Here's the GOLD TO THE MOON paradox.
For gold to add $4000 to it's current price (sending it over $5000 and halfway to the moon), it must first add half of that ($2000). Before it adds $2000, it must add $1000. Before it adds $1000, it must add $500 and so on. You see before the price can reach over $5000 it must go through an infinite amount of price increases which is impossible to complete and therein lies the paradox of GOLD TO THE MOON. Gold bugs have been tackling this problem for millennia.
That makes no sense - the number of price increases required is finite, not infinite.
I think ozzi's post was firmly tongue-in-cheek
Zeno was a gold bug? Huh. He was smarter than even I thought.
it sure wasn't impossible to complete in Iceland or Zimbabwe. Why did I even respond to this ?
Physical metal Shortages will quickly become apparent if the demand keeps up or increases. In all prior "runs" (aka 2008) the demand cooled off after a few weeks and Comex kept control.
Put that in your bonnet Johnny Bravo.
One point I keep hearing is that "gold is only attractive as an inflation hedge, and inflation is low, ergo gold is unattractive." This is a bogus red herring.
Gold is an investment vehicle, so it is a hedge against not just ordinary economywide inflation, but also market crashes, corruption, volatility and accounting fraud in other investment classes, i.e. bonds and equities. Since both bonds and equities are now hopeless as investment classes, with zero real returns an optimistic outcome over say a decade, it comes down to gold vs. cash vs. hard assets (land).
Gold is not just an inflation hedge. Paul Kasriel repeated that it is just this week. What a load.
Correct and let me add that gold is a good hedge against the asylum. If it makes you feel safe and secure, then do it and don't let anyone convince you otherwise. I on the other hand chose to hedge insanity by telling everyone that I'm right. Works for me.
There is some truth to that and it applies to anything I suppose. If you need to carry your blankey of FRNs to make you feel comfy that is your bag.
...and if you saw all the toxic MBS waste in your granny/state pension/church's 'safe' investment fund prospectus you'd want a nice corner to curl up in too....holding on to something real.....
Definition of NOTE 1. Written undertaking by one party (the writer or maker) to pay a specified sum of money to a named party (the payee) or to the bearer (holder) of the note, on demand or on a stated date.
The note is not the money asshole
If a thing can be used *as* money, then it *is* money.
It may not be "legal tender", or "currency", but it's still money if it's used as such.
Thanks! And on another note (pun intended) what "sum of money" can one redeem a FRN for? Just another FRN! The FRN is not a demand note, it carries no rate of interest, and no maturity date. If you or I wrote a note with those specifications we would be jailed for fraud!
Denniger and the rest understand cycles, correct. They say that the economy is going through the K-winter as we speak. The same cycle analysis could be applied to various reserve currencies of the past. In no particular order, Reals, Francs, Pounds, Dollars......
The question is what will be next to replace the dollar? Yuan, new Dinar, Nordic Euro, new Dollar reserve system...... no one knows. When the pound reserve standard was abandoned for the $ reserve, the pouind lost something like 30% of its value over the subsequent years...I would expect the same result to the FRN versus new reserve currency.
Arguing that US will remain at the top of the heap indefinitely is refusing to acknowledge that cycles don't exist. How can one believe in the business cycle, while not believing in larger ones?
The fact remains that the reserve currency will change, eventually. That is why I am a gold bug. The transition period is happening now, I am choosing to watch from the sidelines until this mess is sorted out.
I don't give a care what the price of gold is, the bubble is in FIAT money, not gold.
How do we recocile the looming trillions in unfunded liabilities in the future??? If Uncle makes draconian cuts, the leaders in charge will be hung by the nearest lampost. Their only solution is to maintain the status quo. How will that be accomplished? Devalue the currency.
People with the mentality of a short term trader are missing the bigger picture.
K winters and all that are Bullshit. If Peter Schiff was treasury sec and Volker was Fed chair there would be no fucking harsh K-winter.
You maybe could make the argument that as time progresses, keynesians wake from their graves to fuck up the world
If the hack idiot Peter Schiff ran the treasury we'd be broke like his clients. Staying long Chinese and Russian stocks during 2008 didn't work very well.
That makes him absolutely wrong in every other aspect? You, then, are always correct?
A successful long term trading strategy cannot beat a successful short term trading strategy.
I think that the USD is going to go through this crisis reinforced as the world reserve currency.
Your analysis allow to determine your performances. If indeed, this is transition time then you will win. If not, then you will lose (comparatively)
I disagree with leaders being hung by the nearest lampost. I see a new wave of colonization up the track to solve the future (partially)unfunded liabilities. What will happen to a pensioner who will have to decide over staying in the US and living a life of misery on its too tiny to live in the US pension and selling his US assets, move to a third world country, buy the best places there like a villa in front of the Ocean, having several servants, all this on his US paid pension?
I presume this would be prior to the natives stringing up the elderly gringos and stealing their money during the wave of socialist revolutions and nationalizations that always follow fiscal panics in South and Central America....
Third worlders love those Yankee dollars. Yankees *themselves*...not so much.
Show me a country with a strong rule of law, a long history of protection of individual rights, and a free-market based economy, and I'm there. Until then...I'll stick with the USA as the best of a bad bunch.
Has ZH jumped the shark or is it merely scraping the barrel at this point?
PROOFS you fucking idiots, PROOFS.
I am Chumbawamba.
LOL, getting out of the expertise zone, much like the global climate change stuff a while ago.
Perhaps a regular feature on orange juice would...um...go down easier?
Tyler takes every advantage of any gold "story" to get the anti-gold trolls in here and stir up page counts.
It pays the bills, so I can't blame him.
I'd be having my sysadmins tracking posts/logs/IP etc..., there are likely some interesting patterns for future use/relevation.
Suck them in with a gold-silver non-story honeypot, keep feeding over time, then
http://www.zerohedge.com/article/us-mint-out-not-only-silver-gold-americ...
http://twentypercent.tv/2010/06/02/dave-rosenberg-gold-to-3000/
Paper money (fiat currency) is used as a means of producing and exchanging goods and services in our world.
The Plutocrats did a real number on us in 1913 with the establishment of the Federal Reserve. In 1930 the Plutocrats established the Bank of International Settlements. In 1944 the Plutocrats establish the International Monetary Fund. In 1945 the Plutocrats establish the World Bank. Very few people discuss what groups of people make up these organizations and what influence they have on the world financial system. In 1971 US President Richard Nixon takes the world off of the gold standard and US Federal Reserve notes become as good as gold. Gold becomes a commodity that can be traded for paper money and certificates.
The ponzi scheme is well under way. We can fractional reserve paper money, electronic money, certificates and devalue them to nothing. This ponzi scheme has run it's course and there has to be a change.
The Plutocrats have decided to slowly crash this financial system and start a new one with the BRIC nations. Please take the time to watch the video: Former World Bank President: Big Shift Coming. Speaker James D. Wolfensohn.
As far as the physical metal gold goes, I think it is necessary to have some. It will have to be exchanged for some type of flexible currency when we go out into the real world. If we only have gold bars and nothing else to trade and exchange with it will be very difficult to go to the grocery store and shave off the right amount to buy a gallon of milk.
We like paper money and coins made out of useless metal. It works well for us. We believe in it.
The Plutocrats will no doubt come up with a system close to what we have now through the International Monetary Fund. Special Drawing Rights money and eventually the money/credit chip inserted into the human body.
Monetary credit by definition is a system of allowing customers to take goods for later payment. It is how financial institutions are allowed to manipulate the means and ways of later payment that requires control.
BRIC nations are a tool. A distraction. The plutocracy is just trying to maintain The West as the center of power. Think of it as a big fight between aristocratic houses of old. Except now that those houses consist of countries and their financiers. This is good, ol' fashion Financial Warfare at its finest.
Seriously? I used to enjoy reading ZH, but these last posts containing nothing but uneducated, phychotic FUD-ness is somewhat spoiling my entertainment.
"...any shipments and deliveries of American Eagle 2010 edition both gold and silver are TBD.." << Please note the "2010" in that statement from Tyler
"Due to the continued, sustained demand for American Eagle Gold Bullion Coins, 2009-dated American Eagle Gold Proof Coins will not be produced." << Please note the "2009" in that statement from the mint.
I refuse to comment on the blatant inability of the ZH editors to distinguish between the 3 classes of mint produced coins, simply because that concept has been thoroughly trashed in previous comments.
Sigh. TEOTWAWKI indeed.
a silly way to keep track of inventory on Scottsdale Silver is to load up your cart with high qualities and then it will tell you how many are available.. and then a month later come back and update your cart and it will show you again how much are there..
this was about 3 weeks ago and now for comparision with some of their items
233 units of 1 Oz Silver Buffalo Rounds 20 Oz w/Tube could not be added to your . There are only 39 in stock. 39 additional unit(s) of 1 Oz Silver Buffalo Rounds 20 Oz w/Tube have been placed in your instead.
145 units of 10 Oz Academy Hand Poured Silver Bar could not be added to your . There are only 133 in stock. 133 additional unit(s) of 10 Oz Academy Hand Poured Silver Bar have been placed in your instead.
The 40x10 Oz Academy Hand Poured Silver Bar Package (400 Oz) product could not be added to your because it is inactive.
24 units of 5 oz Academy Gold Bar could not be added to your . There are only 23 in stock. 23 additional unit(s) of 5 oz Academy Gold Bar have been placed in your instead.
951 units of "The One" by Scottsdale - 1 Oz Bars/Ten Pack could not be added to your . There are only 441 in stock. 441 additional unit(s) of "The One" by Scottsdale - 1 Oz Bars/Ten Pack have been placed in your instead.
http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?langId=-1&storeId=10001&catalogId=10001&identifier=1100
2009, and 2010 Proof & Uncirculated, On hold.
Bullion, how much can you stand?..............
I love Gold Bugs. Executive order 6102. Except, that Government defines the price at which they 'buy' it back. It is all soooooooo lovely.
except the government define whats right and wrong .
unless the government tells you to except lies
unless the government this and that.
gold will go to the highest bidder ,, now 1230 the goverment says its worth 42.00 so much for the government pavlov dog belief
The government defines what is 'legally' right or wrong. Most of that is done by policy nowadays. Laws are for poor people.
Accept the lies? Done all the time. Even when most disbelieve.
Unless the government changes the rules yet again. Like that has never happened before.
Gold will go to those that make the rules. And those with the most gold...
Is something looking bullish ?
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1
Those messages have been on the Mint's pages for at least 3 months.
.
keynes was a fag, its on wiki
WHY anyone would buy "early release", "proof" or "uncirculated" versions these days is beyond me. For that matter, there are loads and loads of hucksters and multi-level marketers out there trying to "add value" by selling their own privately-minted products at unbelievable markups.
You have to make up your mind: are you buying gold bullion or collectibles? Can't do both. I think that, in these conditions of economic uncertainty/impending doom, we'd better stick to bullion...
By the way, the entire coin certification/encapsulating industry is an outright scam. Just another way to try to raise the price of something - gold - that SHOULD be selling for no more than 5 or 6% above spot. Avoid anything encapsulated at all. By the time you want to sell them, you'll get bullion price and no more.
Certification is not a scam.
1) On rarities it will double or triple the value of the same coin RAW (not certified), well worth the play.
2) Proves it's genuine and not a counterfeit. If it is indeed a counterfeit, the certification company WILL BUY BACK THE COIN TO PROTECT YOU.
3) Allows a large sight-unseen trading marketplace. All coins the same grade trade for the same price, no need to even see it.
4) It documents what you have with a label, very usefull for heirs if you drop dead suddenly
5) It adds a unique certification number, private to the owner, checkable through an on-line database, and is also an anti-theft device
As I said, no scam, although you won't much of a return on "moderns" - ie. anything less than 25 years old unless of course it grades a perfect MS70.
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