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The Other "Mint" Campaign Starts Off With A Bang: US Mint Sells 50,000 Ounces Of Gold On First Day Of Year

Tyler Durden's picture




 

And we're off to the races. Despite, or maybe thanks to, the relentless collapse in paper gold prices, US retail continues to ignore the day to day fluctuations in the stated value of the shiny metal (most of it driven by the BIS' Benoit Gilson), and instead has learned to take advantage of every drop to BTFD. As the US mint website reports, the very first day of 2013 saw a whopping 50,000 gold ounce sales, and another 7,000 on the second, which is nearly the entire amount sold by the mint in December, and just shy of half in all of January 2012. Which in turn means that gold raids are now becoming counterproductive: instead of disincentivizing retail purchases, they are merely accelerating them, in the process leading to ever more paper to physical currency conversion. The "trillion dollar platinum coin" may well be the dumbest idea around, but the "one ounce gold coin" idea is rapidly becoming the most popular one, shared by all who see that the only possible outcome for the "developed world" is more ceaseless devaluation of every paper currency in the world.

 

 

 

(h/t Alex Gloy)

 

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Fri, 01/04/2013 - 11:56 | 3122154 trav777
trav777's picture

Merry New Year bitchez

Fri, 01/04/2013 - 12:00 | 3122160 flacon
flacon's picture

FROM PNC BANK:

 

 

A number of banks in the U.S., including PNC, are seeing an unusually high volume of traffic at their Internet connections. This volume of traffic is consistent with threatened cyber attacks on the U.S. banking system and is designed to cause access delays for legitimate internet customers. For several weeks, PNC has taken steps to block this traffic and maintain online and mobile banking access for the vast majority of its customers. In some cases, those measures also may have blocked access to a small percentage of legitimate PNC customers for an extended period. We sincerely apologize to those affected.
------------
Joe LIBORman discusses the Internet Kill Switch and pleads the case in the event of a banking cyber attack:
http://www.youtube.com/watch?v=ttvuSqaxF-c

 

Fri, 01/04/2013 - 12:00 | 3122170 firstdivision
firstdivision's picture

The ATM's are still working fine.

Fri, 01/04/2013 - 12:02 | 3122180 francis_sawyer
francis_sawyer's picture

How about an 'after dinner' mint?

Fri, 01/04/2013 - 12:11 | 3122228 Dr. Engali
Fri, 01/04/2013 - 12:17 | 3122269 IvyMike
IvyMike's picture

Can't eat gold.

Gold is valuable only in a City-Statist (Civilization) society.

Fri, 01/04/2013 - 12:23 | 3122293 smlbizman
smlbizman's picture

but you can eat frn's.......dick

Fri, 01/04/2013 - 12:25 | 3122306 Pool Shark
Pool Shark's picture

He's just a "PaperBug"

Fri, 01/04/2013 - 13:15 | 3122544 IvyMike
IvyMike's picture

Paperbugs and Goldbugs are both slightly-varied City-Statist positions, about as different as communism vs socialism.

Neither paper nor gold are worth anything except in City-Statism (Civilization.)

Fri, 01/04/2013 - 13:17 | 3122555 Enslavethechild...
EnslavethechildrenforBen's picture

2013 will go down in history as the year the dealers could not keep Guns or Gold on their shelves

Fri, 01/04/2013 - 13:30 | 3122620 Half_A_Billion_...
Half_A_Billion_Hollow_Points's picture

end-year bonus = January barbarous relics for tradition

Fri, 01/04/2013 - 17:19 | 3123831 fourchan
fourchan's picture

golds future is enevitable, as is the paper dollar.

Fri, 01/04/2013 - 16:34 | 3123113 DoChenRollingBearing
DoChenRollingBearing's picture

The year has barely started, yet I think you are making a great observation.  I intend to be part of the shelves-cleaning process.

2013 -- the year everyone pulls their heads out their asses?  Maybe not everyone, but it looks like more are waking up.

What holds me back from much optimism is the FACT that Obama was re-elected, HE is what America wants.

Fri, 01/04/2013 - 15:59 | 3123461 laboratorymike
laboratorymike's picture

Reminds me quite a lot of 2009! There was no physical to be found, and my favorite gun store had a huge Obama poster labelled "Salesman of the year!" And it was a pain to find ammo for range practice those days! The store owner sure cleaned up though; told me that he switched his investment strategy from stocks and bonds to ammo and clips.

Fri, 01/04/2013 - 13:39 | 3122671 The Joker
The Joker's picture

I don't know about you but I live in civlization.  I imagine I will still be living in civilization tomorrow, and the next day.  I imagine you live in civilization as well, or you wouldn't be able to rant away on your keyboard condemning the structure that provided that keyboard, and computer, and ISP. 

Fri, 01/04/2013 - 14:06 | 3122811 gnomon
gnomon's picture

The price of "civilization" will soon be akin to accepting abject slavery. The continuance of our current concept of Liberty, (inalienable God-given rights), is contingent upon surplus resources.

We have two paths going forward which include the above or a calamitous collapse which gives the possibility of Liberty being reborn somewhere beyond our lifetimes.

But we really don't have a choice.  All complex civilizations fail spectacularly.  This coming collapse will outdo all of the previous ones by far. 

So there is a silver lining, but not in our lifetimes. While it is over for those of us who love Liberty the grasping oligarchs will seek to hold back the coming anarchy not for the sake of the people, but for the sake of their privileged positions.

If you want to prosper before the collapse, you must suck up to those that you previously despised and betray everything that you ever held dear.

Fri, 01/04/2013 - 13:54 | 3122746 Quinvarius
Quinvarius's picture

You are just mad because you never developed money in Civ-4 and the Zulus kicked your butt.

Fri, 01/04/2013 - 15:09 | 3123144 Backspin
Backspin's picture

What a great flashback.  Countless hours wasted.  Loads of fun, though!

Fri, 01/04/2013 - 12:45 | 3122372 SafelyGraze
SafelyGraze's picture

mint sales are not driven by demand

put yourself in their position .. you are a monopoly .. all your shiny rounds are bought by the authorized purchases .. *you* determine the monthly and yearly sales figures

for example, note the 2011 total sales for au 
http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2011

exactly 1 million

and note the monthly sales are thousands (000) or half-thousands (500)

supplier-driven

Fri, 01/04/2013 - 12:55 | 3122465 aka Gil
aka Gil's picture

With respect to the demand side, their gold suppression strategy is working almost as well as their gun control strategy.

Fri, 01/04/2013 - 14:03 | 3122790 JonNadler
JonNadler's picture

Can't eat gold.

that's my boy!

Mon, 01/07/2013 - 15:22 | 3130281 cannonfodder
cannonfodder's picture

To those who claim you can't eat gold; this is true.  At the same time, you can't make teeth out of paper.

Fri, 01/04/2013 - 12:42 | 3122354 The Joker
The Joker's picture

There it is.  Been waiting for days for that line.  Thanks for the morning chuckle.

Edit:  heh heh heh, Hee Hee Hee, HOO HOO HOO, HA HA HA HA HA!

I can't eat gold, but I'm eating up this fucking dip.

Fri, 01/04/2013 - 12:53 | 3122457 CrockettAlmanac.com
CrockettAlmanac.com's picture

 

 

Gold is valuable only in a City-Statist (Civilization) society.

 

Another fool who thinks that society and government are the same thing.

Fri, 01/04/2013 - 13:17 | 3122560 IvyMike
IvyMike's picture

Wrong, fuckwit.

Society has been around for millions of years.

City-Statism (Civilization), the only human society to have "government" (State) has been around only a few thousand years on the globe, and only a few hundred years on the continent I live on.

Go ahead, try again, City-Statist.

Fri, 01/04/2013 - 13:19 | 3122566 Enslavethechild...
EnslavethechildrenforBen's picture

Sorry Ivymike, you're the fuckwit dude.

Fri, 01/04/2013 - 13:26 | 3122600 Ghordius
Ghordius's picture

"Gold is valuable only in a City-Statist (Civilization) society"

Is trade a hallmark of Civilization? Because easily transportable but highly valuable goods - functioning also as money - were immediately useful for trade

Salt - one of the first commodities used as money - comes to mind

btw I am a Statist, for ZH standards, and I find your "City-Statist" term quite endearing, actually

Fri, 01/04/2013 - 14:17 | 3122892 ParkAveFlasher
ParkAveFlasher's picture

Yeah but you can't eat salt. 

Fri, 01/04/2013 - 14:19 | 3122906 HyperLazy
HyperLazy's picture

"Society has been around for millions of years."

Wot? When and where?

Fri, 01/04/2013 - 18:06 | 3123999 mjcOH1
mjcOH1's picture

Why.....a long time ago in a galaxy far far away.

The farce is strong in this one.

Fri, 01/04/2013 - 14:31 | 3122977 Tsunami Wave
Tsunami Wave's picture

AnAnonymous says, "U.S. citizisem"

LetThemEatRand says, "Randian"

IvyMike says, "City-Statist"

 

You 3 are really weird.

Fri, 01/04/2013 - 15:05 | 3123128 DoChenRollingBearing
DoChenRollingBearing's picture

Yeah, those three are oddballs here at ZH.  Hey, but it's cool...!

Fri, 01/04/2013 - 18:19 | 3124011 akak
akak's picture

Selfish and greedy, blobbing-up US 'american', anti-homo habilis, unnatural, agricultural city-statist citizenism is the mattering thing, the crustiest bit of an important can-kicking something.

Sat, 01/05/2013 - 17:08 | 3125710 MeelionDollerBogus
MeelionDollerBogus's picture

Are you another form of MDB clone? What nonsense do you speak? City civilization isn’t going away any time soon. Tribalism’s days are over, the world has been transformed – not just humans but all the animals & diseases around us.

If the world reverts to a “before cities” state it’s game over for the species. Evolution may carry forward the gene-line into another species but humans as we know it would be done.

As for relevance to the article & to Zerohedge in general your only claim to adherence is “on a long enough time line everyone’s survival rate drops to zero”

Well, good for you, then, for pointing out the completely obvious.

Fri, 01/04/2013 - 13:10 | 3122529 A Nanny Moose
A Nanny Moose's picture

....but you can shit it.

http://www.huffingtonpost.com/2012/12/10/gold-poop-pills-tobias-wong_n_2...

Naturally, this requires eating it first. I suppose there are other methods.

Fri, 01/04/2013 - 13:54 | 3122749 WhiteNight123129
WhiteNight123129's picture

IvyMike, have you visited lately?

 

Fri, 01/04/2013 - 15:12 | 3123157 pupton
pupton's picture

Here ya go fucko:

http://ediblegold.com/

Fri, 01/04/2013 - 12:22 | 3122273 Pool Shark
Pool Shark's picture

 

 

Bullion sales from the US Mint fluctuate drastically.

For instance, over this same period, the Mint has SOLD NO SILVER BULLION WHATSOEVER:

http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2013

And the sales of America The Beautiful 5-Ounce Silver Bullion Coins has been dropping since 2010:

http://www.coinnews.net/2012/12/28/us-mint-sales-cleveland-products-debut-commemorative-coins-rise/

With such low mintages, these will have some serious numismatic value in years to come...

 

Fri, 01/04/2013 - 12:33 | 3122344 San Diego Gold Bug
San Diego Gold Bug's picture

The US Mint has not sold any silver Eagles this month because they are not releasing them to the dealers until 1/13/13.

I am a dealer and bullion sales have gone through the roof since BO got a 2nd term. 

Fri, 01/04/2013 - 13:31 | 3122554 Pool Shark
Pool Shark's picture

Exactly.

US Mint sales often fluctuate based on availability.

However, 2012 Gold sales are the lowest since 2007, and 2012 silver sales are the lowest since 2009:

 http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2007

By the way, how are those 5-ounce Atb bullion coins selling?

[Don't get me wrong; I'm taking advantage of the low prices to add to my stacks, but there's no arguing with US Mint Statistics: sales of bullion have dropped in recent years...]

 

Fri, 01/04/2013 - 14:36 | 3122991 Frank N. Beans
Frank N. Beans's picture

just like guns

Fri, 01/04/2013 - 15:08 | 3123138 DoChenRollingBearing
DoChenRollingBearing's picture

I'll take Guns and Gold for $5000, Alex.

Fri, 01/04/2013 - 12:35 | 3122351 Water Is Wet
Water Is Wet's picture

Don't forget the WSJ hit piece on gold from yesterday: U.S. Mint Gold-Coin Sales Fell 25% in 2012

http://online.wsj.com/article/SB1000142412788732387420457821942177743253...

Fri, 01/04/2013 - 13:20 | 3122572 xtop23
xtop23's picture

Sorry, but numismatics are a waste of time. It makes more sense to pool the money you save passing on the premium and accumulating more ounces.

Fri, 01/04/2013 - 13:49 | 3122665 Half_A_Billion_...
Half_A_Billion_Hollow_Points's picture

numismatics are a pretty dangerous game, unless you've devoted your life to them, you're in the dark

Fri, 01/04/2013 - 13:32 | 3122630 XitSam
XitSam's picture

Didn't the Mint do something like this last year? Maybe with silver?  There was a big report after the new year and people were suspecting that the sales actually should have been on the December 2010 report which would have made it huge.

Fri, 01/04/2013 - 12:01 | 3122176 HelluvaEngineer
HelluvaEngineer's picture

DOS attacks are, well, pretty lame.

Fri, 01/04/2013 - 13:25 | 3122595 Glass Seagull
Glass Seagull's picture

 

So why isn't "unusually high volume" of market quote traffic consistent with HFT cyber attacks?  I can deluge the exchanges with quotes, but PNC's site is off limits. 

 

Sounds great. 

Fri, 01/04/2013 - 12:06 | 3122209 Spider
Spider's picture

US Mint is playing games with the sales report - no way they sold 50k on the first day of the year.  These are from DEC moved into JAN to prevent the DEC monthly sales report from being even higher. 

Big question is, what will be the silver sales numbers when the mint resumes selling silver on 1/7.  Engineered price drop to buy the blanks?  Dont know but i'm seeing silver A LOT higher by month end...

Fri, 01/04/2013 - 12:48 | 3122291 DosZap
DosZap's picture

 no way they sold 50k on the first day of the year.

Sure there is,IF they had 50, w/ over 3000 million folks and Foreigners wanting them, easy to move 50k, just the dealer backlogs of orders is likely unreal.

 

Fri, 01/04/2013 - 13:47 | 3122672 Half_A_Billion_...
Half_A_Billion_Hollow_Points's picture

that's not impossible at all; it's around $825 for 100,000 people on average.  100k people is less than 0.4% of the population.

Fri, 01/04/2013 - 15:00 | 3123097 cynicalskeptic
cynicalskeptic's picture

Definite games -  part of the effort to paint year-end stats.  You can't close out 2012 with gold and silver up substantially higher and with December mint sales through the roof compared to the previous year so.......  the COMEX price behavior over the past few weeks ahs been trranparently manipulative.

As for the mint - I had an order in for a gold proof set in December expecting delivery for X-Mas  - the mint sat on THAT for far longer than usual.  It was 'on hold' for December and then processed and shipped just after the new year started.  I expect you had a lot of that with gold coin orders.

Given the price of silver of late, it's funny how silver prices have been set far HIGHER than you'd expect (given past practice) for next year on Silver Eagle Proofs and ATB 5 ouncers as well as silver proof sets.  Seems like the Mint is expecting higher silver prices (and doesn't want to go through multiple shut downs for repricing - gold is priced off London weekly prices but silver is not adjusted automatically).

Fri, 01/04/2013 - 17:23 | 3123849 IrritableBowels
IrritableBowels's picture

apmex not delivering 2013 eagles until 1/13.  Is this all to display the popularity of gold, thereby downplaying the real move: silver?

Fri, 01/04/2013 - 12:21 | 3122286 slaughterer
slaughterer's picture

Not buying more gold until $1500.

Fri, 01/04/2013 - 12:36 | 3122314 Dr. Engali
Dr. Engali's picture

When you consider where gold is going , who gives a shit about a hundred bucks?

Fri, 01/04/2013 - 12:51 | 3122436 Shell Game
Shell Game's picture

C'mon Doc, when surrounded by trees it can be hard to see the forest.  ;)

Fri, 01/04/2013 - 13:22 | 3122583 Enslavethechild...
EnslavethechildrenforBen's picture

So Slaughterer, you're not buying any more Gold. So what is your point?

Fri, 01/04/2013 - 14:00 | 3122592 xtop23
xtop23's picture

edit: After considering it, I realized that I actually AM greedy enough to care about saving even a couple of hundred bucks.

But then I already have a core position. For the people joining the party late, trying to time it could be problematic.

Fri, 01/04/2013 - 15:17 | 3123193 DoChenRollingBearing
DoChenRollingBearing's picture

+ $1650, + $1700, + $1800, + $2000, + $whatever

Correct Dr. Engali.  Physical gold is cheap now.  Buy accordingly.

Fri, 01/04/2013 - 12:56 | 3122452 EL INDIO
EL INDIO's picture

You may not see that price again.

The FED would have us believe that it is considering tightening while at the same time they increased their QE to nearly $100 billion a month ! WTF !

I prefer to base my decisions on actual facts, and right now it's + $100 billion a month. Everything else is BS.

I’m BTFD.

(Silver is very hot right now. It is a better buy.)

Fri, 01/04/2013 - 15:29 | 3123274 Goldust
Goldust's picture

While you are right that we may not see it again, if you believe 2013 to be a year of reckoning for US dollar, it's a good possibility IMO.  I think there will be a big slam by TPTB prior to the big boom.  A last ditch effort, so to speak.  If it comes in 2013, against the backdrop of the current price range, $1500 is possible.  The only problem with trying to buy during the "big slam" is that a lot of people are waiting for the same time, and supply could be hard to come by.

Fri, 01/04/2013 - 13:53 | 3122731 WhiteNight123129
WhiteNight123129's picture

Thanks trav Happy new Year to you too.

Fri, 01/04/2013 - 14:15 | 3122880 Duffminster
Duffminster's picture

The article doesn't explain why Silver Eagle are dropping in sales.   Here is why.  Excerpt from an interview with James Turk at Kingworld

"...the US Mint stopped selling silver eagles.  There are only two alternatives to explain it and both are bullish.  Either they don’t have any physical silver, or they don’t want to sell what they do have at such a low price.  As I said, either case is extremely bullish for silver.

So while the central planners may win the occasional battle or two, like the one being waged over the past couple of months, they are clearly losing the war. ..."

Fri, 01/04/2013 - 15:04 | 3123121 cynicalskeptic
cynicalskeptic's picture

Silver Eagle sales dropped because the Mint stopped selling 2012 BULLION coins to dealers and will not be selling 2013 BULLION coins until January.  The Mint also 'sold out' of Silver Eagle Proof sets and other Silver proof sets - leaving little available for purchase late in December.

Fri, 01/04/2013 - 12:00 | 3122156 achmachat
achmachat's picture

 

But this morning they told me that gold is good for nothing... who is buying all those?

you might want to add that there's no Silver Eagles being sold, simply because they RAN OUT prematurely!

Fri, 01/04/2013 - 12:07 | 3122212 yogibear
yogibear's picture

Liars are great diversions. In the mean time they talk the metals down and load up. They know.

Fri, 01/04/2013 - 13:24 | 3122588 Enslavethechild...
EnslavethechildrenforBen's picture

ding ding ding ding ding ding

We have a winner!

Fri, 01/04/2013 - 12:21 | 3122287 youngman
youngman's picture

This is how a government runs a business.....they don´t think ahead...they do not care about the customer..when sales are good they  do not ramp up...they just quit when they want to...a government company...lol

Fri, 01/04/2013 - 12:40 | 3122386 FL_Conservative
FL_Conservative's picture

Sincere question for fellow real money purchasers.  Why are people buying current mint rather than pre-'33?  I much prefer the latter as it is "off the grid".  Why would anyone want to report?   At some point, BHO will send the troops to collect it and they'll have a list of where to go provided by the Mint.  TIA.

Fri, 01/04/2013 - 13:33 | 3122607 Killtruck
Killtruck's picture

Not to ridicule your sincere question, but it sincerely deserves ridicule. Was this sarcasm?

How much more "off the grid" can you get than an Eagle buried in under the woodpile in Eastern KY? Send all of the troops you want, you're not going to find it.

As for BHO's "send the troops"...you mean the troops that have spent the last twelve years in a no-win situation? Or are you talking about a new, Brown Shirt organization that would be tasked with this, and very possibly face incoming small-arms fire from their fellow citizens? Get real.

I don't own any real money since my terrible boating accident, but those I know who do are also avid and capable riflemen, a few of which are veterans. They tell me that the Pre-'33's aren't worth the premium.

Fri, 01/04/2013 - 13:53 | 3122732 FL_Conservative
FL_Conservative's picture

Killtruck, there's no sarcasm in my question. Bullion transactions which, as I understand includes newly minted eagles, fall under 1099-B reporting for single transaction purchases greater than $10,000 or for a series of purchases aggregating more then $10,000 from the same dealer.  Buying pre-'33 gold DE's is not reportable for any amount.  So why would one go the route of requiring a 1099 to be filed for the purchase when that can be avoided altogether?  And, as for your comment about not justifying the mark-up, you can buy MS-62 certified by PCGS or NGC for a smaller mark-up than what you're paying for a newly-minted eagle from the Mint.  Do the math.  I have, so I know I'm right.  But my question still stands.

Fri, 01/04/2013 - 15:08 | 3123141 cynicalskeptic
cynicalskeptic's picture

by law Silver and Gold Eagle (as well as Buffalo I believe) transactions are NOT reportable though I have no doubt that Big Brother can get records if they wish.   

Buying common 'collectible' coins if all you want is physical is more expensive.  

Side note:  I have to wonder how in China you can buy physical for minimal premiums while here you have a nice mark-up on both gold and silver coins.

Fri, 01/04/2013 - 15:26 | 3123252 FL_Conservative
FL_Conservative's picture

Thanks for your response.  I was of the understanding (apparently wrongly) that gold and silver eagles qualify as bullion purchases that have to be reported.  That's why I've focused on pre-'33 and cull 90% silver.  Cull silver halves can be had for less than a 6% M/U to spot, while the pre-'33 DE's run a 22-24% M/U, although you can get them cheaper if you buy them without certification.  Since I naturally don't trust people, I only buy those that have been certified.  So prices, based on metal content, are equal to or lower than new gold eagles.

Fri, 01/04/2013 - 15:59 | 3123444 Killtruck
Killtruck's picture

FL - My point didn't have anything to do with the math, which I won't argue with you. Personally, I look at it as "different strokes for different folks" - buy what you want.

My point was directed at the idea that anyone would come and try to confiscate your personal property. There are several problems with this, but chiefly, WHO is going to go door to door, risking life and limb to try and steal (int he name of the gov't) from those who (by their very nature) do not trust the government. And even then, assuming that you did get to the door, actually finding the stuff (buried under the woodpile) is a completely new issue.

If you want to buy pre-'33, go for it. They look very pretty, and I enjoy the historical significance. But I don't think that buying it in the hopes of avoiding a confiscation is a very good reason, if for no other reason than what the existence of those Pre-'33 coins proves - it's as "off-the-grid" as you can get , even back then.

Fri, 01/04/2013 - 11:58 | 3122159 Temporalist
Temporalist's picture

If the trillion dollar platinum coin doesn't have a pic of the Bernank on it it would be truly unAmerican.  Long live the King!

Fri, 01/04/2013 - 12:40 | 3122356 ZeroAvatar
ZeroAvatar's picture

The coin will have a 'Cock' on one side and an 'Anyus' on the other:

 

Heads or Tails, it doesn't matter, we're so fucked.

 

"Cockus En Anyusum Sans Greecium"

Fri, 01/04/2013 - 13:25 | 3122598 Enslavethechild...
EnslavethechildrenforBen's picture

How about a huge cock going through the side of Bernanke's tiny head?

Fri, 01/04/2013 - 12:42 | 3122395 Half_A_Billion_...
Half_A_Billion_Hollow_Points's picture

let's pray banzai7 is listening

Fri, 01/04/2013 - 11:58 | 3122164 Dr. Engali
Dr. Engali's picture

Thank you Blythe...keep selling that paper. I appreciate the discount.

Fri, 01/04/2013 - 12:13 | 3122241 SHEEPFUKKER
SHEEPFUKKER's picture

She one good biach. 

Fri, 01/04/2013 - 12:23 | 3122294 Mad Mohel
Mad Mohel's picture

She's a cunt that still deserves the rope.

Fri, 01/04/2013 - 11:59 | 3122166 firstdivision
firstdivision's picture

I didn't realize WTI would gain on a countrywide tax increase

Fri, 01/04/2013 - 12:31 | 3122333 Gadocat99
Gadocat99's picture

Well let's ask the class -- why would a commodity in steady supply increase in price? Hmmm?  Any Hermione Grangers out there?

Fri, 01/04/2013 - 11:59 | 3122168 Dagny Taggart
Dagny Taggart's picture

Well, it seems they ARE having a fabulous sale...

Fri, 01/04/2013 - 12:06 | 3122207 Jreb
Jreb's picture

Super extended Boxing week clearance event. Everything has to go.... including your 401K, pension plans and the kitchen sink.

 

Fri, 01/04/2013 - 11:59 | 3122169 Kaiser Sousa
Kaiser Sousa's picture

TRADITION!!!!!!!!!!!

 

disclaimer: Silver and Gold are on sale again...C'ya at the dealers...........

 

Fri, 01/04/2013 - 12:01 | 3122171 edifice
edifice's picture

Official Gold, bitchez?

Fri, 01/04/2013 - 12:01 | 3122172 punxsutawney phil
punxsutawney phil's picture

Is that why gold is going to 1400?

Fri, 01/04/2013 - 12:02 | 3122183 SheepDog-One
SheepDog-One's picture

*14,000*

Fri, 01/04/2013 - 12:04 | 3122202 punxsutawney phil
punxsutawney phil's picture

Sure sheepdoggie, agreed, 1400 THEN 14,000. 

Fri, 01/04/2013 - 12:15 | 3122253 SheepDog-One
SheepDog-One's picture

They'd even bust up laughing in Zimbabwe over that one.

Fri, 01/04/2013 - 12:29 | 3122322 hoos bin pharteen
hoos bin pharteen's picture

If you think that's funny, wait until the counterfeits start to appear. At that rate just use real platinum!

Fri, 01/04/2013 - 13:30 | 3122617 SheepDog-One
SheepDog-One's picture

Counterfeits 'start' to appear? You must live in a cave, China for 1 has been busted with fake Pandas, and even fake gold from a trusted Swiss source. Who ever said every coin out there is real and legit?

Fri, 01/04/2013 - 12:20 | 3122281 walküre
walküre's picture

Phil, we haven't even gone to first base yet on Lover's Lane. Mere fondling anywhere at these levels. First base once we break through $2,500. Second base is $50,000 and then of course it will be a "short" few "ups" and "downs" before we come out at the other end with a new currency.

Has to be. There is no alternative. Ben doesn't wear any protection.

Fri, 01/04/2013 - 12:25 | 3122305 punxsutawney phil
punxsutawney phil's picture

We need to clean out the weak hands in gold before we can get the smooth easy run up to dizzy heights. 

Fri, 01/04/2013 - 13:36 | 3122654 walküre
walküre's picture

Good luck with that strategy. No weak hands on ZH as far as I can tell.

Fri, 01/04/2013 - 16:11 | 3123514 laboratorymike
laboratorymike's picture

What about institutional investors invested in the GLD? There's a lot of paper gold that needs clearing out.

Fri, 01/04/2013 - 12:16 | 3122265 DosZap
DosZap's picture

Is that why gold is going to 1400?

ONE can only HOPE!!!!!!!!!!!!!!!!!

Fri, 01/04/2013 - 12:01 | 3122173 agent default
agent default's picture

Maybe the mint is out of silver coins?  0 oz. of silver inthe face of this massive buying of gold is a bit strange.

Fri, 01/04/2013 - 12:08 | 3122216 CH1
CH1's picture

Maybe the mint is out of silver coins?

Yes, they ran out a week or two ago. There were stories on it.

Fri, 01/04/2013 - 15:24 | 3123240 Frank N. Beans
Frank N. Beans's picture

the mint may have run out of 2012 silver eagles which is no surprise, after all it is the end of the year.  it is planned this way.

but you can still buy 2012 silver eagles at most coin shops.

Fri, 01/04/2013 - 12:05 | 3122174 LawsofPhysics
LawsofPhysics's picture

Interesting that this demand is not reflected in the paper price.  Further confirmation that there are no markets and true price discovery will not be allowed in any "public" market.

Fri, 01/04/2013 - 12:14 | 3122251 Pseudo Anonym
Pseudo Anonym's picture

not really.

Interesting that this demand is not reflected in the paper price

given these times, would you not be desperate to get rid of your paper gold, even at lower price; or at a loss, to get the phyz from your dealer for the proceeds from selling your paper gold?  it makes perfect sense to me.

Fri, 01/04/2013 - 12:25 | 3122288 LawsofPhysics
LawsofPhysics's picture

Exactly my point.  Broken markets...   go long any physical asset of real value that can not be devalued or stolen by the current fascists in control.  While fraud is the status quo, possession is the law.

Fri, 01/04/2013 - 13:26 | 3122586 AgAu_man
AgAu_man's picture

Ah, the plot thickens...  So if paper-AU is dropping, it's not competing with fiat-$, and a fiat collapse is averted or delayed. 

You've also 'spanked' the so-called Gold Speculators, who may have bought at higher levels (say, >$1700-1775) and were hoping for $1800-2000 levels, and thus dissuaded others from joining in the foreseeable future.  And I'll bet that Jim Rickards didn't see this coming in his Currency Wars.  Or, if he did, it was privately, and he isn't "outing" the rats publicly.

All in all, my wager is, that it's all about keeping the Reserve Currency Status (RCS) of the fiat-USD.  Because, as long as you have that 'priceless' RCS status, you can finance all sort of sh*t out of thin air.  And whatever social and geopolitical plans & schemes can continue for a NWO.  Hmm.

Fri, 01/04/2013 - 12:01 | 3122175 TheMayor
TheMayor's picture

www.truthinaccounting.org

And the rest of the money that wasn't buying gold, was buying guns, ammo and clips....

Fri, 01/04/2013 - 12:17 | 3122267 GubbermintWorker
GubbermintWorker's picture

And the rest of the money that wasn't buying gold, was buying guns, ammo and  *magazines....

 

There, fixed it for you.

Fri, 01/04/2013 - 12:42 | 3122394 squib
squib's picture

Well maybe him and friends have M1 Garands. Just sayin'.

Fri, 01/04/2013 - 12:01 | 3122177 LeisureSmith
LeisureSmith's picture

2013 Silver Eagles are not for sale until the 17th. I think.

Fri, 01/04/2013 - 12:08 | 3122217 EasterBunny
EasterBunny's picture

Anyone know if its possible to find sales figures for Canada Mint and for Austrian Philharmonikers? My coin site of choice (in Germany) has been selling 2013 coins since mid December.

Fri, 01/04/2013 - 12:12 | 3122237 achmachat
achmachat's picture

...on pre-order.

My first batch of 2013 Maples from a German site was actually finally shipped out yesterday.

Fri, 01/04/2013 - 15:27 | 3123258 Frank N. Beans
Frank N. Beans's picture

just depends.  i bought both a 2013 kookaburra and a 2013 britannia in December and received both before Jan 1.   

Fri, 01/04/2013 - 14:35 | 3122989 Tsunami Wave
Tsunami Wave's picture

They are always for sale brah... Thank you Blythe and Jamie!!! Thanks for giving us one of the best "investments" of a lifetime! I'll need every ounce after this paper confetti game is up!

Fri, 01/04/2013 - 12:02 | 3122179 Cognitive Dissonance
Cognitive Dissonance's picture

I like my personal security shiny and round.

Fri, 01/04/2013 - 12:03 | 3122187 Dr. Engali
Dr. Engali's picture

Full metal jacket?

Fri, 01/04/2013 - 12:03 | 3122196 Cognitive Dissonance
Cognitive Dissonance's picture

I left plenty of room for the imagination to fill. :)

Fri, 01/04/2013 - 13:33 | 3122638 CrockettAlmanac.com
CrockettAlmanac.com's picture

 

I left plenty of room for the imagination to fill. :)

 

Hollow point, then?

Fri, 01/04/2013 - 12:02 | 3122184 Zap Powerz
Zap Powerz's picture

I love unintended consequences.

Insteand of disincentivizing people from buying PMs by intentionally suppressing the price it has caused people to just buy more of it at the artifically (controlled) low price!

Fuck you assholes, we can play the game too!

Fri, 01/04/2013 - 12:20 | 3122230 Cognitive Dissonance
Cognitive Dissonance's picture

IMHO the game is not necessarily to provoke disincentive within those who already "believe" in PMs (though that is a side benefit if it works) but rather to keep those on the fence from jumping over as well as to make sure that those who are convinced that Gold is silly remain convinced.

The game is won or lost at the margins.

Fri, 01/04/2013 - 12:13 | 3122242 Quinvarius
Quinvarius's picture

Now with Chinese arbitrage, they don't even have the luxury of defaulting on the COMEX instead of paying out the gold they owe.  China gets what China buys or they take something of yours in China.

Fri, 01/04/2013 - 12:05 | 3122185 buzzsaw99
buzzsaw99's picture

Gartman says gold is finished and the fed is god.

Clearly that is the case with gold, for the minutes of the FOMC’s last meeting have shaken the hopes of the most violent “Gold Bugs” malevolently, and have shaken our gold position rather materially...

violent gold bugs? lulz lulz lulz

Fri, 01/04/2013 - 12:11 | 3122215 SheepDog-One
SheepDog-One's picture

I'm sure they want to place gold bugs under 'Perfect Citizen Act' scrutiny....2 a.m. drone strike on your house if the govt deems you 'not perfect'.

N: NDAA, "Perfect Citizen", Fiscal Cliff up the butt and MORE! - YouTube

This is how things happen time after time while everyone is worried about the pebble in their own shoe, or a 1% +- 'market' direction, they wake up in a totalitarian fascist Democidal nightmare.

Fri, 01/04/2013 - 12:26 | 3122313 Quinvarius
Quinvarius's picture

In 1984, the "make you perfect" just before they put a bullet in your head.

Fri, 01/04/2013 - 12:09 | 3122223 AndrewJackson
AndrewJackson's picture

Gartman needs to explain how the fed will be able to acheive just a stagnant balance sheet. As soon as the market recognizes that QE is over, watch out. 20-30 percent innitial drop in stocks would be for sure just based off the lack of flowing funds. And once the stock market drop, benny boy, shifts back into 5th gear and continues the printing press. No freaking way the bernank stops the monthly hit of qe.

Fri, 01/04/2013 - 12:12 | 3122239 yogibear
yogibear's picture

"And once the stock market drop, benny boy, shifts back into 5th gear and continues the printing press. No freaking way the bernank stops the monthly hit of qe."

That's right. Fed's been the only game in town. He stops and the bottom drops out. He and rest of the members know that. 

It's all smoke and mirrors now.

Fri, 01/04/2013 - 12:18 | 3122271 Kina
Kina's picture

Gartman.... obviously thinks they are going to unprint $16 trillion and not print another Trillion each year to keep the USA out of debtors prison.

 

 

 

 

Fri, 01/04/2013 - 12:20 | 3122277 Quinvarius
Quinvarius's picture

The gold market exists to make Gartman look like a fool.

Fri, 01/04/2013 - 12:03 | 3122189 Catullus
Catullus's picture

Just think of the profits they'll make when they're revalued to $1trillion each. Hahahahaha.

Fri, 01/04/2013 - 12:03 | 3122191 yogibear
yogibear's picture

Gold is not money just like the Fed isn't monetizing debt.

The enormity of the debt and how the US is addressing it (it isn't).

More Fed lip service diversion to buy time, in the meantime just continuing to monetize. 

Fri, 01/04/2013 - 12:03 | 3122192 youngman
youngman's picture

I agree..people are buying...countries are buying...central banks are buying......the big price drops are just paper players....the casino....in the end real gold and silver will be in big demand...big demand..and there will be paper defaults..only payable in paper

Fri, 01/04/2013 - 12:08 | 3122222 yogibear
yogibear's picture

Fed is very worried the US dollar will be dumped. So their trying tio buy more time for the debt ceiling talks.

Fri, 01/04/2013 - 12:17 | 3122263 SHEEPFUKKER
SHEEPFUKKER's picture

Funny how we never hear of the Fed buying gold to presumably back their currency again at some point...only other central banks around the world.  In other news, no cuts at the Pentagon. I think it's obvious how this will play out.

Fri, 01/04/2013 - 12:24 | 3122297 Al Huxley
Al Huxley's picture

The 'FED' may or may not own gold, in any case, I believe pretty much all the assets of the country are collateral for all the money they loan to the govt.  In any case, I'm pretty sure if you were somehow able to look into it, you'd find that the individuals who own the FED, or their family trusts, have PLENTY of gold, locked safely away in private family vaults.  Just a guess...

Fri, 01/04/2013 - 12:55 | 3122467 AgAu_man
AgAu_man's picture

If so, then they can BTFD, using paper fiat, right?  Now that's Alchemy:  Paper or Digital Money into real, hard gold!

Why, at this rate, there might soon be enough to build/rebuild a... Temple in a nice climate?

Fri, 01/04/2013 - 12:07 | 3122211 Jason T
Jason T's picture

I sold me gold today.. via CEF at 21.00  .. we got one last break down this year is my guess.  

Fri, 01/04/2013 - 12:11 | 3122233 buzzsaw99
buzzsaw99's picture

if you can't take the pain get out of the dentist's office i always say

Fri, 01/04/2013 - 12:14 | 3122252 fiddler_on_the_roof
fiddler_on_the_roof's picture

WOW even ZH crowd are accepting that GOld has one more downdraft, And seeing that folks here are accepting that idea, I think the bottom is in for Gold.

 

Fri, 01/04/2013 - 12:10 | 3122232 hankwil74
hankwil74's picture

Prob the same ppl that have been BTFD since $1950

Fri, 01/04/2013 - 12:10 | 3122234 BigPerm
BigPerm's picture

Physical demand is always up, but where are the suuply shortages????

If a delivery failure is the only thing that can stop the paper raids, when is that forcasted?

How many more GATA articles do I have to endure about pending supply shortages??? They never physciallly materialize.

Fri, 01/04/2013 - 15:25 | 3123246 Raymond Reason
Raymond Reason's picture

It can only mean one thing.  As great as physical demand is, it has not outpaced mining supply.  Yet.

Fri, 01/04/2013 - 12:11 | 3122235 Kina
Kina's picture

In my opinion Benoit Gilson is just a cock-puppet of his masters who would send him to an arse raping prison if he refused to corrupt the gold market they way they want.

I supose he likes to be raped by his masters for money than by prisoners.

 

Likewise that silver manipulating slag in the USA.

Fri, 01/04/2013 - 12:13 | 3122243 Moe Howard
Moe Howard's picture

Must I say it? BTFD bitchez.

Fri, 01/04/2013 - 12:13 | 3122244 Navymugsy
Navymugsy's picture

You get a 1% discount when purchasing if you tell them your address and the room in which you'll keep the precious. It makes it easier for them to repo when the SHTF.

Fri, 01/04/2013 - 12:13 | 3122248 firstdivision
firstdivision's picture

Silver is on a fire sale. 

Step 1: Short AGQ

Step 2: Buy Physical

Step 3: ???????

Step 4: Profit

Fri, 01/04/2013 - 12:14 | 3122249 jmeyer
jmeyer's picture

Beware of the Franklin Roosevelt curse on gold : private ownership restrictions, confiscation; all on a Friday night. Buy silver and platinum.

Fri, 01/04/2013 - 12:17 | 3122254 yogibear
yogibear's picture

LOL, manipulation and Fed gum flapping. 

Fed has to push rates back down with all the debt.

FOMC is buying time and hoping for a resolution to the debt ceiling.

Resolution will be a new ceiling of $20/$19 trillion.

Extend and pretend.

Fri, 01/04/2013 - 12:26 | 3122310 walküre
walküre's picture

And when we breach that ceiling in 2 or 3 years from now?

Spending 1.6 trilllion more than they take in?

Austerity? Not freakin' likely with the latest round of pork filled bills and Congress' pay raise.

Fri, 01/04/2013 - 12:33 | 3122339 youngman
youngman's picture

We have an election next year....they will not give enough to go past that...I see a 1 year deal

Fri, 01/04/2013 - 12:15 | 3122255 pods
pods's picture

Physical is the most perfect weapon against CBs.  They have to hammer down the POG to hide their printing, but that only makes their real problem worse.

The harder they try, the worse it will get for them.

I love irony.

pods

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