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US Mint Runs Out Of Silver

Tyler Durden's picture




 

And so the US joins the distinguished list of pretty much everyone else in the world in running out of silver and soon, gold. The US Mint has just announced it has run out of silver bullion blanks, and is suspending American Eagle Silver Proof coins, until further notice.

From the US Mint:

Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are 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 . . . .”

The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.

Update: Due to the continued, sustained demand for American Eagle Silver Bullion Coins, 2009-dated American Eagle Silver Proof Coins will not be produced.

Use this information any way you see fit.

h/t Jake

 

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Wed, 06/02/2010 - 11:24 | 389392 trav7777
trav7777's picture

Silver bitchez

Wed, 06/02/2010 - 11:29 | 389408 nwskii
nwskii's picture

I do! But never enough

 

Wed, 06/02/2010 - 11:54 | 389480 Jean Valjean
Jean Valjean's picture

Zerohedge, this is not a story.  Silver eagles are still being produced...in mass quantities.  They are not out of silver.  They have not produced direct purchase gold proofs or uncirculated coins for over a year and yet you can still buy gold coins from dealers.

I'm not saying this couldn't happen at a later time but right now this headline is completely false.

Wed, 06/02/2010 - 12:01 | 389503 chumbawamba
chumbawamba's picture

It's good for page views.  Gotta keep those hits a rollin'!

I suggest more stories on Gaza.

I am Chumbawamba.

Wed, 06/02/2010 - 12:08 | 389520 Jean Valjean
Jean Valjean's picture

Guess your right Chum.

This really is an ill informed headline, though.  Not something I see very often on this site.  This is not news and should be taken down.

Wed, 06/02/2010 - 12:18 | 389556 AnonymousAnarchist
AnonymousAnarchist's picture

Spitzer vs Greenwald

I'm surprised they allow him back after Huffington vs Greenwald.

Wed, 06/02/2010 - 13:15 | 389759 chumbawamba
chumbawamba's picture

Wow.  I forgot what an utter douche Elliot Spitzer is.

Bring back the loop of him begging for forgiveness with his shrewish wife constantly looking over his shoulder.  Oh, wait, thanks, YouTube:

http://www.youtube.com/watch?v=FYUH7tSN8cU&feature=related

BAHAHAHAHAHAHA!

Hey, Dumbo, next time take your socks off before you get your rocks off!

Fucking zionist.

I am Chumbawamba.

Wed, 06/02/2010 - 12:03 | 389507 cossack55
cossack55's picture

Sorry to disagree.  Yes, thay are still minting ASEs to the extrapolated rate of 36 million this year, a record, and most of the US 40 million oz annual production.  Law dictates US minted coins will only contain domestic PMs.  The Mint article refers to numis collectibles, namely ASE Proofs and "W" burnished ASEs.

These were not produced last year either when mint produced something like 29 million ASEs.

Wed, 06/02/2010 - 12:24 | 389576 mark mchugh
mark mchugh's picture

The Statement from the US mint:

"Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended......"

Your Statement:

"Silver eagles are still being produced...in mass quantities."

So I ask you, can you not read, or are you privy to some inside information the rest of us don't have?

Funny story - Paulson suspended the production of gold eagles in September 2008, when never-neverland (COMEX) prices went below $800.  The same phoney-baloney "we forgot how to make coin blanks" excuse was employed then as well.

In case you don't remember - that was precisely the moment you should have bought gold with every last paper dollar you could borrow.

So what's different this time?     NOTHING

Silver, bitchez.

Wed, 06/02/2010 - 15:03 | 390082 Bow Tie
Bow Tie's picture

what he means is that they are still being produced for bullion sales, just not in proof or unc varieties, which is what the statement says. hence they are not out of silver at all, just too much demand to allocate any metal to the more 'collectable' products.

Wed, 06/02/2010 - 16:03 | 390254 mark mchugh
mark mchugh's picture

You're right - my mistake.

Wed, 06/02/2010 - 23:21 | 391052 Bow Tie
Bow Tie's picture

still more demand than is comfortable. hopefully they run out completely and the comex blows :D

Wed, 06/02/2010 - 11:25 | 389396 bugs_
bugs_'s picture

Paging Yukon Cornelius!

Wed, 06/02/2010 - 11:38 | 389440 Alfred E. Newman
Alfred E. Newman's picture

I'm glad that I still have my 3 gold claims in Alaska!!!

Wed, 06/02/2010 - 11:26 | 389399 Bay of Pigs
Bay of Pigs's picture

Yeah, and now that shortages are here again should we expect a big drop in price on the COMEX?

Wed, 06/02/2010 - 11:53 | 389454 Hansel
Hansel's picture

HA!  I know what you mean.  The hours of Nymex trading for precious metals have been pretty subdued for the last month compared to the world, from my observation.  It seems there has been a lot of money raised recently with the intent of purchasing gold, and the price stays contained.  3 share issuances by the major gold etf's (CEF, PHYS, GLD), Iran's intent to buy gold, Russia's purchase of gold, the large bullion retail shops selling out, near record high purchase of gold from the U.S. mint in May, and not meeting demand in silver.  *taps the screen*  Do the guages still work?  Is this thing on?

Wed, 06/02/2010 - 11:27 | 389402 hedgeless_horseman
Wed, 06/02/2010 - 11:29 | 389407 williambanzai7
williambanzai7's picture

And where will that replacement bullion come from?

Wed, 06/02/2010 - 11:31 | 389412 nwskii
nwskii's picture

JPM of course! aren't they short 200 million OZ?

Wed, 06/02/2010 - 11:35 | 389424 LoneStarHog
LoneStarHog's picture

Sure, if you want PAPER American Silver Eagles...

Wed, 06/02/2010 - 11:42 | 389448 trav7777
trav7777's picture

didn't Tribeys get lynched back in the middle ages when they were found to NOT have the metals backing their certificates?

Wed, 06/02/2010 - 11:48 | 389467 Hansel
Hansel's picture

Are you suggesting we make silver eagles out of paper?  Why hasn't anyone thought of this?!  It's so crazy, it just... might... WORK!

Wed, 06/02/2010 - 12:14 | 389531 El Hosel
El Hosel's picture

We don't need no stinking Silver, plenty of tungsten in them there hills

 

http://news.goldseek.com/GoldSeek/1258049769.php

Wed, 12/08/2010 - 00:43 | 389416 Z
Z's picture

.

Wed, 06/02/2010 - 11:34 | 389419 tmosley
tmosley's picture

Glad I bought a bundle at $9.

Wed, 06/02/2010 - 12:16 | 389550 chumbawamba
chumbawamba's picture

Hey, great minds buy silver alike ;)

I am Chumbawamba.

Wed, 06/02/2010 - 11:34 | 389420 Bay of Pigs
Bay of Pigs's picture

Hey Jake, That link didn't provide any documentation at all. What's the deal?

Wed, 06/02/2010 - 11:42 | 389436 Bay of Pigs
Bay of Pigs's picture

Thanks. Didn't see the date up top....

Wed, 06/02/2010 - 11:43 | 389450 watchingdogma
watchingdogma's picture

Go to the usmint.gov site - click Shop Online - click American Eagle Coins - select either Silver or Gold proof/uncirculated - looks like they're out of gold too.

Wed, 06/02/2010 - 12:18 | 389557 chumbawamba
chumbawamba's picture

They keyword being "proofs".

PROOFS.  UNCIRCULATED.

Much different than your regular, homely bullion coins.

There is no supply outage...yet.

I am Chumbawamba.

Wed, 06/02/2010 - 11:35 | 389427 hognutz
hognutz's picture

Better get it while ya can!!  Gold too!  and a wee bit of lead is a good deal too.

Wed, 06/02/2010 - 11:35 | 389429 chumbawamba
chumbawamba's picture

Bring in the fiat flunkies!  We need debunking.

I am Chumbawamba.

 

Wed, 06/02/2010 - 11:39 | 389433 Mako
Mako's picture

You'll have huge spikes in both directions, the fun doesn't start until the credit system completely collapses.  You are still living in the good times, wait till the collapse and then the liquidation process. 

"There is no out, there is only in"

It doesn't matter what you use as your medium of exchange in your system, eventually poof, the system collapses.

Wed, 06/02/2010 - 11:44 | 389458 trav7777
trav7777's picture

That is because our system is growth-dependent.  See my comment below regarding gold and oil.

There is nothing wrong with a fiat paper system or any arbitrary economic system.

However, OUR system is one of debt-based money REQUIRING production growth in everything...always...forever.  Or IT collapses.

There will still be credit in the absence of *aggregate* growth, but credit will be limited to discounting REAL bills, and to specific circumstances.  You won't be able to base an entire nation's monetary regime upon it.

Wed, 06/02/2010 - 11:50 | 389462 Mako
Mako's picture

Wake me up after liquidation, see you in a few generations.

Eventually humans will start the process right over again, been going on for thousands of years. 

"Same as it ever was..."

It is somewhat entertaining to watch the action, everyone thinks there is an out.  Great entertainment.  Lemmings come to mind.

Wed, 06/02/2010 - 12:11 | 389532 trav7777
trav7777's picture

There isn't a future after liquidation.

As long as the energy supply curve maintains its peak and EROI continues to decline, we're done with growth.

If we do not invent fusion or some radical breakthrough elsewhere which permits GROWTH in energy supply, then this is a forever kinda thing.

Wed, 06/02/2010 - 12:16 | 389549 Mako
Mako's picture

I figure inflation is dead for at least a generation but my guess is probably 2 generation, Japan will be in the process from peak to final liquidation 80-100 years at least if measured from 1989(peak). 

I kind of agree with you in a general sense but if liquidation runs long and harder than I believe and say you wipe billions off the map than eventually you will have growth unless we are entering another Dark Age.  Either way this system is toast for the rest of my lifetime.

Wed, 06/02/2010 - 12:20 | 389562 chumbawamba
chumbawamba's picture

The unwind always happens much quicker than the wind-up.

Take your estimates down by an order of magnitude, at least.

I am Chumbawamba.

Wed, 06/02/2010 - 12:29 | 389581 Mako
Mako's picture

Nukes would the fastest process, of course extinction is a possibilty if used. 

I can't rule out another Dark Age. 

I would tend to agree with you in general the downwaves are sometimes quicker, but life is cycles and cycles within cycles. 

Despair in humans can bring out the worse.   Last time took between 20-30 years depending how you measure, the system is magnitudes larger now.   I figure 30-50 years on the low end for the global system, not counting Japan.

Wed, 06/02/2010 - 13:08 | 389733 Busy-Body
Busy-Body's picture

It's already invented.  It's called zero-point technology (google it).  This innovation, like the precious metals, is also being suppressed as the powers that be cannot capture it to a point to where its dissemination to humanity would be profitable.  Think of our current reliance on fossil fuels and what the alternatives could be (more importantly, could have been years ago) were it not for the massive manipulation and profits by the Halliburtons, etc......

Wed, 06/02/2010 - 19:25 | 390707 merehuman
merehuman's picture

mako, you end up sounding as if you are a thousand years old and live on the moon. As if none of the mess we are in concerns you.

not that i disagree with you, i dont doubt you, its the way you state things makes me want to pee. lol

Wed, 06/02/2010 - 11:46 | 389460 Internet Tough Guy
Internet Tough Guy's picture

Ridiculous. As long as there are two people there is a medium of exchange. Even in prison people barter what little they have.

Wed, 06/02/2010 - 11:51 | 389476 Mako
Mako's picture

I don't think anyone would disagree with that.  Medium of exchange is what two or more people agree to. 

Wed, 06/02/2010 - 11:54 | 389481 Internet Tough Guy
Internet Tough Guy's picture

Perhaps you should better explain what 'system' you expect to collapse. The wealth-extracting ponzi system? If so, good. But you usually say apocalyptic things about tanks crushing people in the street and total depopulation as if an asteroid hits the planet.

The system necessary to conduct trade, life, etc. is very old and can continue quite well without Wall Street.

Wed, 06/02/2010 - 12:07 | 389514 Mako
Mako's picture

"ponzi", I would call it an unsustainable pyramid scheme, in 2007 you ran out of bricks. 

Well, war or civil war or conflict is usually used to speed up the process sometimes unknown to the people involved.  I mean if you are starving and you are in despair, do you sit there and starve to death or do you go over and rob your neighbor?  Some are going to pick robbing the neighbor.

It doesn't need to be a tank, it could be a guy in a horse and sword, or starvation and disease.   War is the fast process see Hilter he enjoyed cooking the non-funded liabilities.  Hilter was the world's white knight, of course none of the greedy bastards back then would admit it.

Wed, 06/02/2010 - 12:09 | 389517 Internet Tough Guy
Internet Tough Guy's picture

You are one strange dude, Mako.

Some people already rob their neighbors, and some already barter. There is a range of possibilities.

Wed, 06/02/2010 - 12:10 | 389530 Mako
Mako's picture

I use to be like you until I stopped listening to the people that told me how things work and operate and how they actually do operate. 

We were born into lies, seeing through the lies is tougher than knocking down walls with a toothpick. 

 

Wed, 06/02/2010 - 12:13 | 389542 trav7777
trav7777's picture

I pretty much agree with you, but WW2 did not cover the entire world.

Why not GTFO?  You talk about worldwide liquidation and WW2 when most places saw no evidence of the war at all.

Wed, 06/02/2010 - 12:22 | 389559 Mako
Mako's picture

I agree there was somewhere to run to back then, this time it won't be so pretty.   IMHO Hilter was pre-fire to clear the underbrush before the wildfire came and destroyed even more long-term.  IMHO  Without Hilter the process would have been much longer and might have even been more deaths involved, in no way am I saying Hilter was good.  No people are greedy which is why we are at this point once again. 

Basically all of Europse, 2/3rds of Asia, little to destroy in Africa anyway.

The current system is magnitudes larger and will require much more cleansing.  IMHO  I figure a 1-2 billion, we'll see, well probably not, I doubt I make even close to the end of this. 

Wed, 06/02/2010 - 13:21 | 389779 chumbawamba
chumbawamba's picture

Oh shit.  No you di'nint!  No you mutha fuckin' di'nint!

You used "Hitler" and "good" in the same sentence.

Bring in the GIYUS goons!

I am Chumbawamba.

Wed, 06/02/2010 - 19:10 | 390654 Hephasteus
Hephasteus's picture

He taught eels how to secrete slime out of thier skin so that they can't get caught. He doesn't care about understanding, making sense just creating as much slime as possible.

http://www.youtube.com/watch?v=qcOqGV0Kcp0

Wed, 06/02/2010 - 12:23 | 389573 WaterWings
WaterWings's picture

@ ITG,

But what happens when the supply lines break down because no credit is acceptable for payment? The prison example of which you speak is in a vacuum - they are both have consistent shelter and food in a "protected" environment.

At the macro-scale how will you pay truck drivers and shelf-stockers at supermarkets? How long will they agree to work, waiting for a paycheck in a new currency? Any revaluation of the dollar will result in massive disruptions - everything is now operating at thin margins; mostly illusion anyway, like housing prices. It's all gangrene and false promises

Wed, 06/02/2010 - 12:36 | 389593 Mako
Mako's picture

Pulling credit further and further from the future has it's benefits, the unwinding will have it's cons.  It won't be pretty. 

It's all an illusion or more like lies. 

Production will nose dive.

Trade will nose dive.

Nice talkin to you guys, gotta run.

Wed, 06/02/2010 - 12:31 | 389594 Internet Tough Guy
Internet Tough Guy's picture

If you are talking about imported goods, then I agree with you. But we have produced things locally and can again when we have to. No more lettuce from Mexico maybe, but if you live in the northeast you can probably still get Maine potatos. People adapt when they have to; I am a member of a barter group, and a group that does community gardening. Lots of needs can be met locally; wants (imported garbage) might be hard to find.

 

 

Wed, 06/02/2010 - 12:43 | 389641 WaterWings
WaterWings's picture

Well everybody better get a garden and a goat pretty quick because I don't see how I can possibly enjoy Maine potatoes or Florida OJ; that is, (2,000 calories * 365 days * number of people in your community) = "Detroit, we have a problem."

If it ain't grown within a few miles you should plan on it not being available. Where will the petro come from? Will $10 a gallon be sustainable? What about priced in silver? Is that feasible? Cart it into town? What you can fit on your bicycle?

And forget sustainability in the coastal GoM region. I would be packing my bags RIGHT NOW before hurricane season shows us how bad that leak, and all the dispersants, really is. Hyperbole? Shoot, not too inland farmers have reported crop failures from salt water. As tight as possible media blackout in that area. W.T.F. 

Wed, 06/02/2010 - 11:51 | 389466 Blindweb
Blindweb's picture

Mako, you may enjoy some of these blogs:

Resilient communities, system disruption:  http://globalguerrillas.typepad.com/globalguerrillas/

Peak oil, decline of industrialized civ due to unsupportable complexity:  http://thearchdruidreport.blogspot.com/

Thoughts and experiences from the collapsed Argentina:  http://ferfal.blogspot.com/

Comparisons between the Soviet Collapse and coming U.S. collapse: http://cluborlov.blogspot.com/

 

Wed, 06/02/2010 - 11:52 | 389477 Mako
Mako's picture

I will check them out, thanks.

Really there isn't much more to say, humans pick this path, same result will happen every time.

 

Wed, 06/02/2010 - 11:54 | 389479 Spitzer
Spitzer's picture

Bull fucking shit.

Banks will be willing to lend out my silver on my behalf soon enough. Banks will be capitalised with metal as the fiat credit collapses.

Wed, 06/02/2010 - 12:00 | 389486 Mako
Mako's picture

Of course, start the same thing over again just like I expect humans to do, same path expecting a different result.

The problem is not people not willing to lend, heck, I know a bunch of old people that would love you to borrow.   Borrowers have peaked and collapsed, you have serious misunderstanding of how the system peaks and why.

"Money for nothing and your chicks for free"

Your post is exactly points out why humans continue to pick the same path. 

The bank would just love for me to go get a $1M mortgage tomorrow, I could get approved in an hour.   Matter of fact if I had a million friends they would invite them down to. 

Wed, 06/02/2010 - 12:27 | 389585 chumbawamba
chumbawamba's picture

Mako, you're getting wrapped up in your own rhetoric (trust me, I know ;)

The banks will have no choice but to go back to a hard currency system.

And a currency system will replace what we have now, whether it grows organically from the market (i.e. Us) or is structured by a government entity (hopefully not).  But rest assured, something will replace what we have today.

Yes, in time we'll probably forget the old lessons again and fall back into sloth and usury, but that's a long way off.

Don't get ahead of yourself.  We're still hostage to the current regime.  Let's win our freedom and enjoy the good life first.  Then we'll worry about the consequences later ;)

I am Chumbawamba.

Wed, 06/02/2010 - 12:31 | 389599 WaterWings
WaterWings's picture

Let's win our freedom

What would Ghandi propose?

Wed, 06/02/2010 - 12:49 | 389663 WaterWings
WaterWings's picture

And if anyone actually tried to march on DC, well, it's already so thick with agents and cops...forget it:

http://www.youtube.com/watch?v=bp794vsFX24

American Experiment is over. Police State is here.

Wed, 06/02/2010 - 13:26 | 389795 chumbawamba
chumbawamba's picture

As an inspiration and a symbol, Gandhi has no peer in the 20th century; as a practical politician, he was a despair to his colleagues in the Indian national movement. His insistence on non-violence grew more extreme as he aged: during the war, he recommended to the British that they should “invite Herr Hitler and Signor Mussolini to take what they want of the countries you call your possessions.” And in an interview given after the war, he went so far as to say that “the Jews [in Europe] should have offered themselves to the butcher’s knife. They should have thrown themselves into the sea from cliffs.

http://www.antiwar.com/blog/2010/06/01/pr-advice-to-the-palestinians/

Gandhi suggests you send all your silver to the IRS and pay 200% of your debt back to the credit card companies.

I am Chumbawamba.

Wed, 06/02/2010 - 13:39 | 389841 WaterWings
WaterWings's picture

A better answer than I could have expected. Heh heh.

Wed, 06/02/2010 - 11:43 | 389449 ColonelCooper
ColonelCooper's picture

Since JayBay Johnny Bravo hasn't shown up yet, I'll quit counting silver and speak for them:

What are all you stupid asshats going to do with your silver as manufacturing that requires silver continues to decline, leaving a surplus on the market?  Oh wait. If I say manufacturing is declining, it contradicts that whole recovery thing.

Okay, how bout this.  The Lone Ranger is dead, and the decline in silver bullet production has left a surplus.....  Wait wait....

What are you going to do when silver adjusts to a historical ratio with gold values? Shit, that's no good either.  Hang on.

Got it!  You can't eat silver you dinks!!  HaHAHAA.

There Chumba.  Take that.

Wed, 06/02/2010 - 12:33 | 389608 chumbawamba
chumbawamba's picture

I try not to read that douchebag's comments.  It just makes the hair fall off my testicles.

Actually, that's not such a bad thing.

I am Chumbawamba.

Wed, 06/02/2010 - 11:47 | 389463 AnAnonymous
AnAnonymous's picture

Debunking what? Neither gold nor silver are currencies at present times.

 

Extraction of gold and silver do reclaim time, time that can not be compressed beyond a certain point.

Shortage of gold and silver is not a big surprise.

Could be foretold one decade ago, on basis of availability and extraction rate.

What it is faced now is a mass production reaching its limits.

That is not a currency issue. Would be great if it was a currency issue.

But that is a mass  production issue.

Wed, 06/02/2010 - 12:03 | 389511 LeBalance
LeBalance's picture

it is a CONfidence issue.

Wed, 06/02/2010 - 11:39 | 389432 Henry Chinaski
Henry Chinaski's picture

There is something screwy about that announcement and the reference to 2009 proofs.  Could it be old news?

Wed, 06/02/2010 - 11:47 | 389464 Internet Tough Guy
Internet Tough Guy's picture

Proofs get cancelled about every year, same with fractional gold.

Wed, 06/02/2010 - 11:52 | 389478 Henry Chinaski
Henry Chinaski's picture

Could be a too hastily posted link to last year's announcement or 2009 is a typo?

Wed, 06/02/2010 - 11:56 | 389491 Internet Tough Guy
Internet Tough Guy's picture

Looks like it. Either way it is a non-event. And before anyone bashes me, I am a bug.

Wed, 06/02/2010 - 12:50 | 389665 chumbawamba
chumbawamba's picture

You are also a douche, but we won't hold that against you either.

I am Chumbawamba.

Wed, 06/02/2010 - 12:55 | 389689 Internet Tough Guy
Internet Tough Guy's picture

You think you are an attack dog, but you seem like a kick dog to me.

Wed, 06/02/2010 - 13:33 | 389820 chumbawamba
chumbawamba's picture

First you admit approving of killing babies and now you admit approving of kicking dogs.

I guess next you'll tell us that you approve of bum fights?

Do your neighbors know what an ultimate douche you are?  Or do you live in the douchebags' equivalent of a leper colony?

I am Chumbawamba.

Wed, 06/02/2010 - 13:52 | 389882 Internet Tough Guy
Internet Tough Guy's picture

Again with the douche. Please stop projecting your fear of women (see Marla) onto me. I really don't care to read your freudian cries for help. They have pills for your performance problems now.

Wed, 06/02/2010 - 14:00 | 389911 chumbawamba
chumbawamba's picture

I'm sorry you're being forced to read my replies.

Haha, douche.

I am Chumbawamba.

Wed, 06/02/2010 - 12:21 | 389563 DJEphoric
DJEphoric's picture

Your right Henry.. this is old news.. spun on here as new shit.

Wed, 06/02/2010 - 11:37 | 389435 WilliamC
WilliamC's picture

Sounds like a strong sell signal to me.

The COMEX will just re-leverage at 1000-to-one instead of 100-to-one.

Soon spot will be below $17.00, but of course there will be a 50% premium to actually buy any physical.

/sarc

Wed, 06/02/2010 - 11:37 | 389437 rich_maverick
rich_maverick's picture

Nothing to see here... move along...  Buy SLV is you want silver.  Buy virtual silver.  It's the same thing.  No difference.  Move along, nothing to see...

Rich

Wed, 06/02/2010 - 12:30 | 389591 Trundle
Trundle's picture

Oh you mean the silver coins in my Florida snow globe are not real??!!

Wed, 06/02/2010 - 12:46 | 389648 wmdonovan2000@y...
wmdonovan2000@yahoo.com's picture

SLV = Silver Leveraged Virtually

Wed, 06/02/2010 - 11:37 | 389438 silvertrain
silvertrain's picture

Thats what ive been saying for the longest.... 

Wed, 06/02/2010 - 11:50 | 389445 trav7777
trav7777's picture

http://www.goldsheetlinks.com/production.htm

Note the peak in gold production in 2000.

Silver's production appears to have not yet peaked.  Consequently, you will see the Ag/Au ratio maintain its skew to historical trends.

Another thing which illustrates the peak phenomenon are the pie charts on Au production on that link.  Note how during the time of abundant supply, the MAJOR producers such as RSA were the lion's share of production.  These were the lowest-cost, easiest, cheapest deposits.

The same is true WRT oil.  RSA was the Saudi Arabia of Gold (although the USA really was the KSA of oil before KSA was, similarly the USSR).  The lowest-hanging gold fruit was there and production was ample.

But as RSA slid past its peak production, note that the pie becomes made up of ever-more nations.  Why weren't the deposits in these other nations mined in 1950?  Because they are more costly to develop.  They are the higher-hanging fruit.  To satisfy the need for production *growth*, the world extractors had to go to more remote, energy-intensive, costly, less motherlode-y deposits of significantly lower ore quality.  Just like how the oil producers are in bumfuck egypt these days or drilling in a mile of water.  The high-quality oil and gold deposits are simply in a state of terminal depletion.

 

Here appear to be some charts on Silver production: http://www.dani2989.com/gold/worldagprod208gb.htm

Note the peak and inexorable decline of world #1 and #2 producers, US and Canada.  Note also the flatness of recent silver production worldwide, suggesting a possible impending peak supply condition.

Wed, 06/02/2010 - 11:42 | 389447 demsco
demsco's picture

Umm, they have not produced silver proofs or uncirculated coins since 2008 because of high demand. Sorry, but there really is nothing to see here and this is not news. They are also not producing fractional gold eagle proof or unciculated coins or fractional buffalo's either... Oh, platinum eagles are also out on the unciculated and proof fractionals. It is not shortages, but high demand is all. They decided, according to what I know, to produce the more widely bought bullion coins instead which are cheaper and they wanted to be able to keep up with demand, obviously they are in high demand. Sorry. I am a bug though, so I knew this a long time ago.

Wed, 06/02/2010 - 12:01 | 389504 Jean Valjean
Jean Valjean's picture

Bingo, worst headline I've ever seen on zerohedge.  The mint has been doing this for years.  I too am a bug.

Wed, 06/02/2010 - 12:17 | 389555 thesapein
thesapein's picture

I can think of worse, but point taken. Headlines like this give the false impression that the big squeeze is imminent. 

This is old news, nothing new. The US mint was sold out or back ordered more often than not all last year in gold and silver. It seemed that way every time I checked.

I'm a bit of a gold bug myself, but I get tired of the teasing.

 

Wed, 06/02/2010 - 11:44 | 389455 Pladizow
Pladizow's picture

Gresham's Law - "Bad money drives out good."

Wed, 06/02/2010 - 12:10 | 389526 WaterWings
WaterWings's picture

Yep. ApocNow was right. We know your avatar is the real message. Fuck off, Plad.

Wed, 06/02/2010 - 12:13 | 389547 Internet Tough Guy
Internet Tough Guy's picture

I dunno, there is something about the porno quote machine. And Mako is here too. I LMAO reading these threads.

Wed, 06/02/2010 - 12:25 | 389578 WaterWings
WaterWings's picture

porno quote machine

... LOL!

Wed, 06/02/2010 - 11:44 | 389457 SilverIsKing
SilverIsKing's picture

Here's a link to the US Mint page. Read the update.

http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?cata...

 

Tulving still has the coins.

http://www.tulving.com/goldbull.html

 

Wed, 06/02/2010 - 11:48 | 389468 Irwin Fletcher
Irwin Fletcher's picture

Looks to me like they've suspended all their proofs. No platinum eagles at Tulving either. Platinum Bitches!

Wed, 06/02/2010 - 11:48 | 389469 HarryWanger
HarryWanger's picture

What happened? Did we stop the oil leak? Did Greece just pay back their debt? Did Apple invent something we can't live without if only we spend $800.00 plus $120 per month??

Wed, 06/02/2010 - 11:57 | 389492 Hansel
Hansel's picture

What happened?  Are you bearish now?  Finally sell out of your long book?  Time to talk up your new short book?

Wed, 06/02/2010 - 15:41 | 390206 jd2iv987
jd2iv987's picture

bot

Wed, 06/02/2010 - 11:49 | 389473 LoneStarHog
LoneStarHog's picture

FOR SALE:  Cut-out and punch-out American Silver Eagles.  These are of the HIGHEST QUALITY PAPER utilizing JPM COMEX Futures Contracts.  I also issue a guarantee to exchange these for real silver coins, unless I don't.

Order Now:  Absolute Limit of 500 Coins (10 Sheets) Per Customer.  (Secret Suggestion:  I will accept multiple individual orders from the same person, but don't tell anyone)

Buy! Buy! Buy!

Wed, 06/02/2010 - 11:50 | 389474 Popo
Popo's picture

" once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products."


And there we have our admission from the US Treasury that there is no silver available at market.   

Wed, 06/02/2010 - 11:56 | 389490 silvertrain
silvertrain's picture

 How are we going to build Solar panels without Silver? Ipads,Iphone,all electronics,allappliances,nano,collidial,new breakthrough medical patents for silver, Its in everything and we have been throwing it away for many years.. Landfills today will be the goldmines of tommorrow....

Wed, 06/02/2010 - 11:58 | 389493 Spitzer
Spitzer's picture

Mako doesn't know shit.

Banks will be capitalised with metal all over the world. As the fiat moves out the metal moves in. Nothing, not even the fiat credit system falls in a strait line.

Wed, 06/02/2010 - 12:13 | 389546 WaterWings
WaterWings's picture

This may appear inane, but it is actually the central weakness to your argument: "How do 40,000,000 food stampers orderly feed themselves during the transition?"

Wed, 06/02/2010 - 12:23 | 389575 Internet Tough Guy
Internet Tough Guy's picture

What happened in Argentina? People went to the streets where they were beaten and hosed with water cannon. After a few weeks or months a new (poorer, lower) equilibrium set in. Yes, some go hungry, there is crime and some get wiped out financially. But for the majority of our race of killer apes, life does go on.

Wed, 06/02/2010 - 12:27 | 389584 WaterWings
WaterWings's picture

Life was going on in the rest of the world, which allowed for aid packages and deals, etc. to keep the lights on and resist total collapse. WHAT IF THE DOLLAR SNEEZES?

Wed, 06/02/2010 - 13:02 | 389712 chumbawamba
chumbawamba's picture

Gold. Guns. Garden.

Silver. Bullets. Seed.

I am Chumbawamba.

Wed, 06/02/2010 - 12:34 | 389614 Trundle
Trundle's picture

Gubmint cheese.  Be there.

Wed, 06/02/2010 - 12:14 | 389548 goldfreak
goldfreak's picture

Mako is Nadler in disguise?

Wed, 06/02/2010 - 13:21 | 389777 jdrose1985
jdrose1985's picture

your title says it all.

head back to the kitco boards

 

Wed, 06/02/2010 - 12:07 | 389516 bernorange
bernorange's picture

Saw comments wondering if the notice posted is current or old (2009 reference).

I looked around a bit at the US Mint site, and it appears that the notice is current.  If you try to buy the silver Eagles, you get directed to that notice.  Further:<quoteblock>Note: The United States Mint is working diligently with current and potential blank suppliers to increase the supply of bullion coin blanks, so it can offer to the public the proof and uncirculated versions of American Eagle silver, gold, and platinum coins in 2010. Please visit our Schedule of Products Listing to keep abreast of product on sale dates.</quoteblock>

http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?langId=-1&storeId=10001&catalogId=10001&identifier=1000

Clicking on the Schedule of Products Listing page contains links at the bottom for:

Information on 2010 American Eagle Silver Proof Coin availability.
Information on 2010 American Eagle Silver Uncirculated Coin availability.
Information on 2010 American Eagle Gold Proof Coins availability.
Information on 2010 American Eagle Gold Uncirculated Coin availability

The links for the 2010 silver Eagles goes to the notice posted by TD.

Wed, 06/02/2010 - 12:28 | 389588 thesapein
thesapein's picture

Both. It's both current and old news.

The US mint keeps posting these "out of blanks" notices. Over the last year, I can't remember a visit to their website when they actually weren't out of Eagles. The big news would be that they're selling again.

Wed, 06/02/2010 - 12:12 | 389540 PeterSchump
PeterSchump's picture

Old news.

Wed, 06/02/2010 - 12:19 | 389561 DJEphoric
DJEphoric's picture

This is such old news.... craptastic!!!

Wed, 06/02/2010 - 12:21 | 389564 unwashedmass
unwashedmass's picture

 

and yet, oh my, the value of silver is dropping on the Comex. how can this be?

oh, how can this be?

let's all ask the CTFC....they can turn off the porn they are watching and spend some time thinking up some BS excuse to give us...

come on guys, look away from the screen....

Wed, 06/02/2010 - 12:21 | 389565 unwashedmass
unwashedmass's picture

 

and yet, oh my, the value of silver is dropping on the Comex. how can this be?

oh, how can this be?

let's all ask the CTFC....they can turn off the porn they are watching and spend some time thinking up some BS excuse to give us...

come on guys, look away from the screen....

Wed, 06/02/2010 - 12:22 | 389568 antisoshal
antisoshal's picture

Wow. You guys must really be desperate for some doom news if you have to grab a year old update from the US mint and run around in circles masturbating over your coin boxes. Does anyone do any follow up research before something goes straight to the front page?

This is very very old "news". G stopped buying loads of silver when you all ran the price up. They are required to law to mint "to keep up with demand" so if any of you feel your demand isnt being met feel free to sue them. I'm sure that will make it through the court system in a few years. In the meantime they decided to spend the money elsewhere rather than mint coins to sell people at a loss. Like give it to Golman, I guess.

Wed, 06/02/2010 - 12:28 | 389589 WaterWings
WaterWings's picture

So why isn't the price going up?

Wed, 06/02/2010 - 12:47 | 389656 thesapein
thesapein's picture

Because the tail is a lot bigger than the dog.

We have one price for the entire silver market that covers both paper and metal. The paper side is currently many times larger and is essentially the market now.

The problem will eventually take care of itself.

 

Wed, 06/02/2010 - 12:57 | 389694 WaterWings
WaterWings's picture

+1

Hoping the troll would grace us with his opinion.

Wed, 06/02/2010 - 13:07 | 389730 DosZap
DosZap's picture

My guessimate, is they know IF it does, the shortage(and their really is a shortage), compared to Gld........

They will be totally unable to meet the market, and the prices will go THRU the roof.As where it was, before photgraphy cut the main use, and they named it a commodity.

Which we all know is a crock of 6000 yr old shite.

If things continue w/Gld(and it will), Slvr will be the GO TO Po' mans GOLD.

Instead of a 61-1 ratio, it will move to much closer to where it should be.........at least 40-1, maybe less.

Supply & Demand.................the engine of ALL we consume, is predicated on this fact.

I really do not see this happening, unless the CON game on Fiat grows way stronger, or the poo-poo storm brewing in the Middle East blows.........AT SOME POINT, the sheeple will finally get it.

That's when the run will start.IMHO

Wed, 06/02/2010 - 12:31 | 389595 Temporalist
Temporalist's picture

What are you the masturbation police?  Don't knock it till you try it.

Wed, 06/02/2010 - 12:27 | 389586 Temporalist
Temporalist's picture
Iran to sell 45 bln euros, buy dollars, gold -Xinhua

http://www.reuters.com/article/idUSLDE65111120100602?type=marketsNews

Wed, 06/02/2010 - 12:40 | 389633 Burnbright
Burnbright's picture

For those of you who do not know, Proofs are different than regular mint coins. Proofs are really shiny, like mirror quality because they are sometimes either double stamped (cameo) or they use a coating on the stamps used to create a mirror quality finish.

 

Wed, 06/02/2010 - 12:52 | 389676 thesapein
thesapein's picture

I thought they just came with certificates, like proofs of purchase, which is kind of funny since the paper proof is easier to fake than the metal. Some people just can't stop their paper fetishes.

Wed, 06/02/2010 - 12:52 | 389673 libert
libert's picture

The US government is selling all its silver and gold? Sounds to me like silver and gold are about to crash...

Wed, 06/02/2010 - 13:00 | 389703 thesapein
thesapein's picture

No, no, no, the blanks aren't coming from reserves, as if we had any.

The mint just provides a fee based service, basically, but with extra high premiums and long waits.

Wed, 06/02/2010 - 13:12 | 389747 DosZap
DosZap's picture

The US Gv't does not hold Silver Reserves any more.

Wed, 06/02/2010 - 13:10 | 389741 goldfreak
goldfreak's picture

sounds to me like you're anothet troll

Wed, 06/02/2010 - 14:13 | 389957 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Supply/demand motha trucka!

Wed, 06/02/2010 - 13:58 | 389900 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Silver is very hard to mine, as it only grows with a sister metal.

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sun1's picture

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sun's picture

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