The Other "Mint" Campaign Starts Off With A Bang: US Mint Sells 50,000 Ounces Of Gold On First Day Of Year
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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Merry New Year bitchez
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
The ATM's are still working fine.
How about an 'after dinner' mint?
It's waffer thin.
http://www.youtube.com/watch?v=rXH_12QWWg8
Can't eat gold.
Gold is valuable only in a City-Statist (Civilization) society.
but you can eat frn's.......dick
He's just a "PaperBug"
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.)
2013 will go down in history as the year the dealers could not keep Guns or Gold on their shelves
end-year bonus = January barbarous relics for tradition
golds future is enevitable, as is the paper dollar.
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.
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.
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.
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.
You are just mad because you never developed money in Civ-4 and the Zulus kicked your butt.
What a great flashback. Countless hours wasted. Loads of fun, though!
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
With respect to the demand side, their gold suppression strategy is working almost as well as their gun control strategy.
Can't eat gold.
that's my boy!
To those who claim you can't eat gold; this is true. At the same time, you can't make teeth out of paper.
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.
Another fool who thinks that society and government are the same thing.
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.
Sorry Ivymike, you're the fuckwit dude.
"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
Yeah but you can't eat salt.
"Society has been around for millions of years."
Wot? When and where?
Why.....a long time ago in a galaxy far far away.
The farce is strong in this one.
AnAnonymous says, "U.S. citizisem"
LetThemEatRand says, "Randian"
IvyMike says, "City-Statist"
You 3 are really weird.
Yeah, those three are oddballs here at ZH. Hey, but it's cool...!
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.
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.
....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.
IvyMike, have you visited lately?
Here ya go fucko:
http://ediblegold.com/
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...
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.
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...]
just like guns
I'll take Guns and Gold for $5000, Alex.
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...
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.
numismatics are a pretty dangerous game, unless you've devoted your life to them, you're in the dark
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.
DOS attacks are, well, pretty lame.
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.
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...
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.