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Silver Eagle Sales Surge To All-Time Record In January

Tyler Durden's picture




 

A massive 7.4 million Silver Eagles were purchased from the U.S. Mint in January, considerably higher than the previous record from early 2011. After halting Silver coin production/sales for over a week, the Mint re-opened yesterday and demand once again surged. Having almost doubled from the first week in January, there remains two more days before the book is closed on January's sales. At 140,000 ounces, the Mint has also sold the most ounces of gold in January in almost three years, suggesting the rising 'currency wars' are stoking people's ongoing rotation from paper-to-physical assets as their 'wealth' slowing loses its value.

 

 

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Tue, 01/29/2013 - 21:41 | 3197271 Cognitive Dissonance
Cognitive Dissonance's picture

"At 140,000 ounces, the Mint has also sold the most ounces of gold in January in almost three years..."

"Hell.....I'll see your 140,000 ounces and raise you 10 gabazillion paper ounces." - Comex Crimex

Tue, 01/29/2013 - 21:45 | 3197287 GoldSilverDoc
GoldSilverDoc's picture

Call your paper.  And raise you 100 trillion Zimbabwean dollars, and 10 senators... uh... parasites.

Tue, 01/29/2013 - 21:58 | 3197335 Clint Liquor
Clint Liquor's picture

Silver Eagles, Sold Out. Canadian Silver Maples, sold out. 5.56 Nato, sold out. AR 15s, sold out.

Can you smell that smell?

Ooh, Ooh, that smell!

Tue, 01/29/2013 - 22:01 | 3197343 DoChenRollingBearing
DoChenRollingBearing's picture

Not even Tulving has Silver Eagles

Not even Cheaper Than Dirt has 7.62 x 39.

Tue, 01/29/2013 - 22:05 | 3197359 GetZeeGold
GetZeeGold's picture

 

 

Molly geez, this is serious. Those cats need a bailout.

Tue, 01/29/2013 - 22:08 | 3197377 sullymandias
sullymandias's picture

d

Tue, 01/29/2013 - 22:21 | 3197416 francis_sawyer
francis_sawyer's picture

Blow me Blythe... [with FEELING this time]...

Tue, 01/29/2013 - 22:33 | 3197460 Muppet Pimp
Muppet Pimp's picture

this place claims to have them (no opinion, do your own research)

https://libertycpm.com/

Tue, 01/29/2013 - 23:09 | 3197567 SafelyGraze
SafelyGraze's picture

just got back from meeting with tptb

keep the planchets rolling .. 7m ozt in jan, 23m ozt in feb, 50m ozt in mar .. pretty soon all the wind will go out of the ag sails

If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin.

There will be no profit in holding them out of circulation for the value of their silver content.

The new coins are not going to have a scarcity value either. The mint is geared to get into production quickly and to do it on a massive scale.

We expect to produce not less than 3 1/2 billions of the new coins in the next year, and, if necessary, twice that amount in the following 12 months.

feels like 1965 
http://www.presidency.ucsb.edu/ws/?pid=27108

 

Wed, 01/30/2013 - 00:19 | 3197743 Pool Shark
Pool Shark's picture

 

 

Plenty of Silver Eagles available; and here are the cheapest prices:

http://comparesilverprices.com/

Provident has Monster Boxes for only $2.60/oz. over spot.

Jeez...

 

Wed, 01/30/2013 - 00:25 | 3197762 Pool Shark
Pool Shark's picture

 

 

Oh, and while you're at it; check out the best prices for gold bullion here:

http://comparegoldprices.com/

 

Easy, peazy...

 

Wed, 01/30/2013 - 01:03 | 3197829 RockyRacoon
RockyRacoon's picture

Premiums on silver running 10 to 15%.   Astounding.

http://comparesilverprices.com/

Wed, 01/30/2013 - 01:15 | 3197855 Pool Shark
Pool Shark's picture

 

 

Silver Eagle premiums have remained pretty steady over the last couple years. The only reason the percentage is higher is because silver has dropped around $15.00 from it's high almost two years ago.

 

Wed, 01/30/2013 - 01:41 | 3197873 sitenine
sitenine's picture

You're right of course, Pool Shark. Gainesville has monster boxes for only $2.45 over spot, http://www.gainesvillecoins.com/products/162784/2013-1-oz-silver-america...

It's hard to argue with bugs on ZH though..

Sorry folks, but it's not time to panic yet.

[edit] if you are looking to by guns or ammo though, I would suggest that you start panicking two or three weeks ago.

Wed, 01/30/2013 - 03:32 | 3197989 JLee2027
JLee2027's picture

Small amounts will always be available. If Apple, Google and Samsung can't get enough tonnes of silver to make new smartphones, tablets, and iBabbles, then yes, the shortage is real.

Wed, 01/30/2013 - 07:47 | 3198120 GetZeeGold
GetZeeGold's picture

 

 

Try buying bulk ammo at wholesale......can't be done.

 

The progressives are the best sales staff the firearms industry has ever had......and they work for free.

Wed, 01/30/2013 - 09:20 | 3198248 trav777
trav777's picture

what's that smell???  Smells like...silverbugz getting blowtorched

Wed, 01/30/2013 - 14:55 | 3199547 akak
akak's picture

Funny, the only thing I smell here is a rabid, ragingly dishonest, idiotic racist with chronic silver envy.

Oh, and once again, you coward and bully (funny how those two attributes invariably are found together), how does a 70% net gain over three years or four years constitute "blowtorching", exactly?  Or are you going to continue making the same specious and disingenuous claim, so favored by all your anti-gold cousins as well, that EVERYONE who owns your particularly despised precious metal bought all that they own at the (very brief) peak price?

I love when you make a total ass of yourself here.  Which is usually.

Wed, 01/30/2013 - 11:02 | 3198724 whirling tword ...
whirling tword freedom's picture

In the scare of 2008 it took 6 weeks for reloading components to dry up.  It took about 3 days this time.  I can't find anything at all.... primers and bullets are like gold right now.  I can't find powder either but, there are usually several alternatives for powder... not so much for bullets an powder.   I don't really need anyting at the moment but, it sure it troublesome to see it happening.

Wed, 01/30/2013 - 02:57 | 3197968 sodbuster
sodbuster's picture

Maybe the price goes up, maybe the price goes down. Who gives a shit. Treasury will give me something of value, for some paper, that I know is losing value, EVERY DAY! Gold and silver had value 4000 years ago- the criminal Bernanke and his bankster buddies could destroy our country and currency in the next 400 days.

Tue, 01/29/2013 - 23:41 | 3197666 cynicalskeptic
cynicalskeptic's picture

Wouldn't let Blythe near MY....  I hear she bites (and grabs your stash after you run out to the ER).

Wed, 01/30/2013 - 01:51 | 3197742 Shell Game
Shell Game's picture

If by 'd' you mean this is more evidence of good money chasing out bad, I concur.

Tue, 01/29/2013 - 22:07 | 3197366 klockwerks
klockwerks's picture

Het Do Chen, try Cabelas.com.

Tue, 01/29/2013 - 22:36 | 3197471 chubbar
chubbar's picture

I just looked on Cabelas, the site didn't show any 7.62X39. All they listed were 30.06, .300 winchester, .270 Winchester and 7mm remington.

Tue, 01/29/2013 - 23:49 | 3197685 pods
pods's picture

Pick up the 7mm Mag, put in a Sendero II, look through some quality optics and reach out and touch someone!

pods

Tue, 01/29/2013 - 23:56 | 3197699 bigkahuna
bigkahuna's picture

sportsmansguide.com is out and they are backordered until June for the bulk 223 - their disclaimer says that they may change the backorder date.

 

http://www.sportsmansguide.com/net/browse/ammo-rifle-223-ammo.aspx?c=96&s=907&stk=1

Wed, 01/30/2013 - 01:17 | 3197862 RockyRacoon
RockyRacoon's picture

These folks have what you are looking for:

http://www.firequest.com/index.html

Thu, 01/31/2013 - 10:54 | 3202312 bigkahuna
bigkahuna's picture

Indeed they do - Thanx Rocky:)

Wed, 01/30/2013 - 00:37 | 3197781 AgAu_man
AgAu_man's picture

7 mm has a beautiful, flat trajectory that makes a real 'impression'.
Good for hunting deer and elk.

Wed, 01/30/2013 - 11:11 | 3198669 whirling tword ...
whirling tword freedom's picture

Don't neglect the 300 win mag.  That caliber is also universal and will reach out just as far and make an even bigger impression putting more lead on target.

You can get out past 1500yds easily with either a 7mag or 300wm with the right projectiles and optics.  For the 7mm, you need the 168gr berger, for the 300wm you need the 208gr amax and it sure helps to hand load them.

You can probably tell... I don't play golf.... but, shooting is kind of like golf... just with a different ball and a different club.

I usually shoot the 1000yd range with my 300wm... there are a lot of guys that do it with the 7mm mag also and 338 Lapua.   The 300wm barrels last longer than the 7mm barrels do, however.  Either way, it's still hard to get 3000 rounds of barrel life from the 300wm.

And for the survivalists, many military snipers carry both the 300wm and the 338 Lapua.  When they shoot the 300wm, they have a round loaded with SMK 220gr rounds loaded HOT... so hot, I'd not reload the brass.... talk about reach out and touch somebody... It's called... MK248 MOD 1.  You can google it. 

 

Tue, 01/29/2013 - 22:59 | 3197532 Pseudo Anonym
Pseudo Anonym's picture

pfft

Not even Tulving has Silver Eagles

kitco has shitloads of everything.  even your stupid eagles.

Wed, 01/30/2013 - 00:45 | 3197752 akak
akak's picture

 

kitco has shitloads of everything.

Well, so they claim.

And I bet that their "Pooled Precious Metals Accounts" are 100% fully backed by completely segregated bullion, counted daily by Jon Nadler himself.

Let's be frank here: Kitco is clearly just a front for the anti-gold forces, as exemplified by the outrageously and incessantly incorrect, dishonest, specious, fearmongering, hysterical anti-gold daily diatribes of their official pro-establishment, pro-status-quo, pro-bankster spokesman, Jon Nadler, whose sole role in that company seems to be badmouthing gold, warning of gold's "imminent" and permanent price decline, and savagely (and revealingly) attacking the advocates of holding gold during these times of financial and monetary uncertainty as "radical goldbug extremists". 

I doubt that Kitco does ANY meaningful level of physical precious metals transactions, as in all my years of reading and discussing precious metals online and face-to-face, I have yet to encounter more than a tiny handful of individuals who have EVER claimed to have engaged in a physical PM transaction with Kitco, unlike the situation with ANY of the other recognized PM dealers.  And their ridiculously high premiums seem almost designed to discourage and dissuade potential customers, as do their grossly high shipping and insurance charges, all of which are FAR higher than those of any similar PM dealer.

To call that company "suspicious" is, in my eyes, a gross understatement.

Wed, 01/30/2013 - 00:46 | 3197799 AgAu_man
AgAu_man's picture

A good industry friend of mine just got canned/fired for spending too much time (lunch, after hrs) on 'inappropriate' websites. Not porn, but [drum roll, pls]: ZH. Yeah!

Anyway, he tells me that he plans to put that Nadler shill to the test in the next few weeks, when he is going to swap his Kitco Pool Account holdings into hard bullion. Stay tuned, me hardees.

Wed, 01/30/2013 - 00:59 | 3197818 akak
akak's picture

I strongly suspect that your friend is going to be "advised" to remain in his pooled accounts, and not to "rashly" move his savings into "unsecured", "risky" and "theft-prone" physical precious metals.  Mark my words!

Wed, 01/30/2013 - 02:55 | 3197958 Curiously_Crazy
Curiously_Crazy's picture

Best thing about not being a consumer and having to keep up with the Jones' is that everything one owns looks like absolute shit to any thief.

I've been broken into once before. The lounge room was trashed (mainly draws ripped open and contents thrown over the joint) first bedroom was trashed (which has a 20 year old tv in it which wasn't touched) and that's it.

My theorectical take on the matter is that there were two of em. They both met in the hallway:

"found anything yet?" 

"nah... you?" 

"nah nothing"

"fuck this shithole lets get outta here onto greener pastures"

 

Easy to hide precious in a house of crap.

 

Of course my housemate could have just been coming home and scared em off when they heard the car but I prefer my thoughts of events.

Wed, 01/30/2013 - 07:11 | 3198099 Miss Expectations
Miss Expectations's picture

New Jersey?  It's drawers not draws.  :)

Wed, 01/30/2013 - 07:08 | 3198098 capitallosses
capitallosses's picture

I have made two healthy size silver purchases from Kitco this month and deliveries took only a couple days, one today. I've been playing with my physical all day. And no, I don't like the shill Nadler.

Tue, 01/29/2013 - 23:02 | 3197542 El Oregonian
El Oregonian's picture

The Eagle has LANDED!!!

Tue, 01/29/2013 - 23:15 | 3197593 seek
seek's picture

You know, conventional survivalist wisdom has always been to have guns with super common calibers, but I can see a compelling reason to own one or two wierd ones.

Quick survey of my favorite ammo haunts is telling me 7mm Remington Magnum is the place to be, that shit is everywhere! Of course, it might be because it costs $2 a round, too.

Tue, 01/29/2013 - 23:36 | 3197655 DoChenRollingBearing
DoChenRollingBearing's picture

That's an interesting take, seek, + 1.  Diversification in lead delivery devices uses the same logic as diversification in PMs.  But, each gun costs money...  

***

Regarding guns & money, I was shooting my AK at a range less than a week ago.  One of the guys (as I was paying after) wanted to look at my AK (Saiga).  I told him I had bought it at that very store about two years ago for $900 and something.  He then looked it up on his computer to see what the retail price would be now...:

$2900! 

He told me I could easily get, say $2400 selling it used (less than 1000 rounds shot, cleaned twice).

Wed, 01/30/2013 - 00:14 | 3197739 seek
seek's picture

Wow, that's just crazy. It makes me sad, realizing how much I lost in that tragic boating accident.

I just checked -- very few 7mm Rem Mag rifles around, and they're all bolt action. Looks like $500-$700 new.

My solution to this nonsense is to switch to the 22LR upper and dip into the inventory for ammo until things settle down.

Wed, 01/30/2013 - 07:19 | 3198106 Poor Grogman
Poor Grogman's picture

The 7 mm Rem Mag hits hard and flies flat, great on medium to large game at most distances with a good variety of projectiles and loads available.

Very loud though, don't forget ear plugs..

You certainly would not be disappointed if you decide to get one.

Wed, 01/30/2013 - 07:50 | 3198127 zilverreiger
zilverreiger's picture

Tulving.com: 500 2013 ASE, Spot + $2.59 + Free UPS Shipping

Tue, 01/29/2013 - 22:23 | 3197425 Whiner
Whiner's picture

And the price hasn't budged. DOUBLE DOWN!

Tue, 01/29/2013 - 22:51 | 3197513 jackinrichmond
jackinrichmond's picture

you forgot fema camps, hollow point bullets and domestic drones

Tue, 01/29/2013 - 23:56 | 3197698 e_goldstein
e_goldstein's picture

bulkammo.com has 5.56 for around 1 bennybuck a round.

 

Wed, 01/30/2013 - 01:43 | 3197904 AllThatGlitters
AllThatGlitters's picture

You can get Eagles cheap without having to shell out for a Monster Box.

http://www.pmbull.com/physical-silver/  

One of the dealers listed has cheap low volume prices and there is a discount code that reduces the price another $1.00.  Inventory is in stock. No minimums.  

 

Wed, 01/30/2013 - 09:31 | 3198276 midtowng
midtowng's picture

None of this comes anywhere close to gold and silver demand from China.

Tue, 01/29/2013 - 21:41 | 3197274 Rustysilver
Rustysilver's picture

So, the Eagles are soaring. Good for them.

Tue, 01/29/2013 - 21:58 | 3197333 BC6
BC6's picture

Freedom girls are gorgeous.

https://www.silverbulletsilvershield.com/freedom-girl-one-ounce-medallio...

It's cool to see new designs.

Tue, 01/29/2013 - 22:05 | 3197355 WmMcK
WmMcK's picture

Love the Peace Dollar (and Morgans, too).

Tue, 01/29/2013 - 22:52 | 3197515 Freddie
Freddie's picture

Does anyone know silver can be faked like gold/tungsten?  ANy examples of it happening?  Not being a smart ass just wondering.

Tue, 01/29/2013 - 22:59 | 3197534 DoChenRollingBearing
DoChenRollingBearing's picture

AFAIK Freddie, it would be pretty hard to make good fake silver coins, at least Eagles.  They have a ring when dropped, say, from 1/2 inch onto any rock or pavement.  Silver is about 10 x as heavy as water, less than lead, but lead would just give you a thump.  I am sure there are other "quick and dirty" methods to detect fake silver COINS.

Silver also may not be worth counterfeiting.

Numismatic pieces would be an exception, for example, my dad had a fake gold US $5 gold coin, real gold, but faked.

Tue, 01/29/2013 - 23:05 | 3197555 Freddie
Freddie's picture

Thanks DCRB.  I know that sounds but not as well as I should.  I wonder is silver might be slightly better for the avg Joe because it is to low cost to fake or as you said "Not worth counterfitting."

Wed, 01/30/2013 - 08:00 | 3198139 Stuntgirl
Stuntgirl's picture

Silver also has a distinctive smell and taste, like brass.

But I'm not sure I could tell 999 purity from 900...

Tue, 01/29/2013 - 23:09 | 3197564 Room 101
Room 101's picture

Yes, there are bogus Morgans out there.  Caveat emptor.

Tue, 01/29/2013 - 23:25 | 3197621 TeddyBear
TeddyBear's picture

 

 

 

YES....

 

And it is, Big time.

People will not trust ANY coins & price will go down. GLD price could go up 20% over coin.

 

 

Wed, 01/30/2013 - 00:41 | 3197788 Al Huxley
Al Huxley's picture

Thanks for the tip-off.  I know the consolidation in price of gold is nearing an end when comments like this start showing up.  Just waiting for the Roubini tweet now as the final confirmation.

Tue, 01/29/2013 - 23:45 | 3197673 cynicalskeptic
cynicalskeptic's picture

China is faking Morgans - often rare dates using real silver going for the Numismatic premium.  Even slabs them as graded.

You're seeing fake bullion as well - but weight/size is usually off.  Quality can be pretty good.

Wed, 01/30/2013 - 00:05 | 3197717 JeffB
JeffB's picture

Browse a few YouTube videos on conterfeit silver coins, Freddie.

 

Wed, 01/30/2013 - 03:08 | 3197977 Freddie
Freddie's picture

+1 Thanks

Wed, 01/30/2013 - 00:40 | 3197784 Mr.Bigfoot
Mr.Bigfoot's picture

I saw a you tube piece on fake silver coins being made in China. Their trick was to make them slightly smaller than the authentic coin. Pretty sophisticated methods.

Tue, 01/29/2013 - 21:40 | 3197276 DoChenRollingBearing
DoChenRollingBearing's picture

Gold, silver, and platinum, bitchez!

Tue, 01/29/2013 - 21:43 | 3197280 IridiumRebel
IridiumRebel's picture

Diamonds

Tue, 01/29/2013 - 21:56 | 3197329 DoChenRollingBearing
DoChenRollingBearing's picture

Diamonds are in one sense a terrible investment.  Buy one, and then take it to your nearest city's "Diamond District".  They (any of the Dealers)  will offer you a lousy 30% of what you paid for it.  An awful spread.  Yes, it is a CLOSED business, outsiders need not apply.

But, yes, you can carry a LOT of wealth with you with a small handful of diamonds.

IRIDIUM on the other hand...  :)  

elementsales.com

Tue, 01/29/2013 - 22:08 | 3197369 IridiumRebel
IridiumRebel's picture

Buy on Craigslist.....you get the discount. Youd be amazed how little a scorned ex will unliad the shit for to pay for Sergio the dial-a-dick. I just know these sleaze balls will be confiscating and with a digital presence they will know who has what.

Tue, 01/29/2013 - 22:14 | 3197396 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Hmm, I have never bought from Craigslist before, I will have to check it out.

Tue, 01/29/2013 - 23:08 | 3197560 Lore
Lore's picture

No to diamonds. There's far too much supply.  High prices are the result of controlled, artificial shortage, and diamonds can be synthesized.  You want to hold something FUNGIBLE and in REAL shortage.

Tue, 01/29/2013 - 23:09 | 3197570 IridiumRebel
IridiumRebel's picture

Ok.....I appreciate the feedback. I had heard about people getting into diamonds. I think real estate is the way and PMs.

Tue, 01/29/2013 - 23:18 | 3197594 Lore
Lore's picture

Hey IR,

Visit your local antique dealer or pawnbroker or one of those "We buy Gold And Silver" folks for some perspective about the resale value of diamonds. Estate sales alone mean return of 50-odd years of inventory to market over the next couple of decades. 

(Antiques in general are in a bear market. People who thought they'd store wealth in art prints or furniture or curios are getting a rude awakening.  It's a shame, but it also means there are occasional bargains out there for those who keep an eye peeled for something rare.)

Rgds

Wed, 01/30/2013 - 11:06 | 3198745 MeBizarro
MeBizarro's picture

As someone who deals in diamonds and precious stones directly from the source in Venezuela and trips to Africa as a part-time gig and sells on RAPNET, your comment is kind of offbase.  I would agree about the general supply.   

Depends on what type of color, clarity, and cut you are talking about and what type of stone.  High-caliber stones including diamonds can't be synthesized either.  If they could, precious stones wouldn't be worth squat even if you had attempts to create severe artifical shortages.    

Tue, 01/29/2013 - 22:40 | 3197483 johnconnor
johnconnor's picture

the only use of diamonds is to bribe women into marrying you... even a crappier investments because you end up with half of what you started

Tue, 01/29/2013 - 23:12 | 3197581 IridiumRebel
IridiumRebel's picture

Well played sir, well played.

Wed, 01/30/2013 - 00:24 | 3197764 Herkimer Jerkimer
Herkimer Jerkimer's picture

'

'

'

'

That's what scares the bat snot out of me and why I'm staying away from them? I could be buying old coke bottle glass and wouldn't know if I was being hosed or not!

Also, I know those bastards in Antwerp and DeBeers are manipulating the markets, not to mention those guys out of Vancouver with their radio show on Saturday mornings plugging diamonds!

I don't trust'em!

 

•?•
V-V

Wed, 01/30/2013 - 00:44 | 3197794 Oldrepublic
Oldrepublic's picture

http://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-...

old article but very well researched on the diamond cartel, the brilliant

ad campaign "diamonds are forever," which brainwashed millions of western women into linking diamonds and romance.

Tue, 01/29/2013 - 22:14 | 3197390 Au Shucks
Au Shucks's picture

Diamonds?  really?  not sure if that's a joke or if you're serious.  I hope its a joke b/c that sounds just silly to me.

Tue, 01/29/2013 - 22:19 | 3197411 IridiumRebel
IridiumRebel's picture

Just testing the waters with this thought.....I am more into real estate.

Tue, 01/29/2013 - 22:22 | 3197420 Temporalist
Temporalist's picture

Jewels are particularly good investments for the ultra-wealthy.  How else can someone hold tens of millions in such a compact place?  Talk about value density.  The majority of common people would never be able to determine the value of most jewels however.

Tue, 01/29/2013 - 22:27 | 3197437 BLOTTO
BLOTTO's picture

Fancy coloured diamonds...

.

Approx., 1/10,000 diamonds have colour. I believe thats the better investment regarding diamonds.

Tue, 01/29/2013 - 23:02 | 3197545 DoChenRollingBearing
DoChenRollingBearing's picture

Yes, maybe.  I would still like to see the spreads though.  I hear that in Europe you can get a better price for diamonds than here (as a seller), but I would not know.

Careful though.  Regular diamonds can be treated to throw a color (heating), and a light yellow color (most colored diamonds) makes them worth LESS.

Tue, 01/29/2013 - 23:23 | 3197616 Lore
Lore's picture

If you have something from Austria-Hungarian royalty or something with extraordinary history, then maybe you're set for life, but if you're just talking generic ring or pendant with a few shards in a cluster, you're better off picking up some ASEs...

Tue, 01/29/2013 - 23:48 | 3197681 cynicalskeptic
cynicalskeptic's picture

watch out if buying rare colored diamonds - lots of fraud - resin to fill cracks and even radioactive gems (they were putting some near a nuclear core in Brazil - the radiation intensifies colors - but alslo made them radioactive enough to leave burns on your skin if you wore them in a necklace for an extended time).

Tue, 01/29/2013 - 22:34 | 3197467 Deacon Frost
Deacon Frost's picture

Silver has proven itself historically the precious metal of choice, in everyday commerce for both the plebeians and patricians.

Convert fiat and keep accumulating.

Everyday citizens are only compelled to use worthless fiat through force majeure.

 

We know how this ends.

The Yuan dynasty used paper currency as the predominant currency. Then the Yuan dynasty began printing paper money without restriction. This resulted in inflation. By 1455 it ended in hyperinflation, and the following Ming dynasty then ended the use of paper money.


  

 

Tue, 01/29/2013 - 23:25 | 3197618 The Gooch
The Gooch's picture

As witnessed by barter for magazines. Not the reading type, mind you.

Tue, 01/29/2013 - 21:43 | 3197282 BandGap
BandGap's picture

400 ounces in the past month.

Tue, 01/29/2013 - 23:40 | 3197663 ghengis86
ghengis86's picture

damn, bro...save some for the rest of us!  I wish I could stack that much per month. 

Tue, 01/29/2013 - 21:43 | 3197284 IridiumRebel
IridiumRebel's picture

Paper is great for wiping my ass.

Tue, 01/29/2013 - 21:54 | 3197318 Clint Liquor
Clint Liquor's picture

The USD is great, but the Euro is much softer and plusher.

I think the FED should contract with Charmin instead of the US Treasury for fiat currency creation. As, Voltaire said 'all fiat currencies...................'

Tue, 01/29/2013 - 23:49 | 3197688 cynicalskeptic
cynicalskeptic's picture

If Charmin printed dollars at least there would be some utility value.  Regular banknotes suck as TP.  Too rough and clog toilets.

Tue, 01/29/2013 - 22:33 | 3197459 XitSam
XitSam's picture

I just realized, since I don't play with such things, that paper gold and paper silver probably aren't even paper, just an electronic entry in broker's computer.  Am I right?

Tue, 01/29/2013 - 23:09 | 3197565 El Oregonian
El Oregonian's picture

YOU ACTUALLY GET A RECEIPT! AND IF YOU ASK NICE YOU CAN GET A SECOND COPY DOUBLING THE PAPER CAPACITY FOR ASS WIPING!!

Tue, 01/29/2013 - 23:25 | 3197623 Lore
Lore's picture

It is very smooth paper.

Tue, 01/29/2013 - 21:46 | 3197294 ReptilianSlaveMaster
ReptilianSlaveMaster's picture

Aren't you meant to sell when everyone else buys? Silver eagle holders should be horrified that the little stupid money is doing what he is doing, signa of top and gold is priced for a correction, whos to say hyperinflation has not already been priced into gold, thje fear i s certainly overhyped. think.. dont invest in gold or silver just because your scared pussy cat.. look at what happened to the jimmy carter crowd, same president different time

Tue, 01/29/2013 - 21:50 | 3197303 nmewn
nmewn's picture

This is not about investment or "fiat profit" to then be taxed.

Tue, 01/29/2013 - 21:50 | 3197305 Clint Liquor
Clint Liquor's picture

Yes, of course be a contrarian. Now that 1% of the US population is buying, you should sell. Jimmy Carter was about 30 trillion dollars ago.

Tue, 01/29/2013 - 21:51 | 3197312 fonzannoon
fonzannoon's picture

tomorrow the bernak is going to hint at ending QE. Metal prices are going to dump out and the MSM is going to be pounding the table that the precious metal trade has begun to crash and that anyone left in it had better get out fast. 

they will spend all afternoon contemplating what the best stocks to own are in a rising interest rate environment. 

should i buy back in tomorrow when that happens, seeing that that everyone else is selling?

Tue, 01/29/2013 - 22:38 | 3197475 AllWorkedUp
AllWorkedUp's picture

You're probably right. I hate fucking Fed days and employment report days and OpEx days and actually about 90% of all days the Crimex is open.

but...the dollar crash is getting closer and 7,000 new assault rifles and 450 million rounds isn't going to be near enough to stop what's coming

Tue, 01/29/2013 - 23:16 | 3197600 Room 101
Room 101's picture

Yippee! Black Wednesday sales! 

Not that I would want to purchase any relics.  I'm talking strictly in the hypothetical sense of  'if I were someone who would want to purchase PM's', which of course I'm not as they're such a bad investment.   

Wed, 01/30/2013 - 01:40 | 3197898 wee-weed up
wee-weed up's picture

fonzannoon

You say tomorrow the Bernank is going to hint at ending QE?

So... what happened to "QE Forever?"

 

Wed, 01/30/2013 - 09:22 | 3198250 fonzannoon
fonzannoon's picture

I said hint, not end. Huge difference.

Wed, 01/30/2013 - 09:19 | 3198247 dcj98gst
dcj98gst's picture

If they hint at that both stocks and metals will dump.  Yes I would be a buyer of metals, its would only be lip service if it goes down.  There is only one path forward for the FED and only one type of end.

Tue, 01/29/2013 - 21:58 | 3197325 lunaticfringe
lunaticfringe's picture

Dude you been living in cave? How many people you think own gold or silver? Millions? What are ya- a nutter? Ya think Uncle Sammy pledged California as collateral? All he pledged is a broke dick work force that ain't working. All that's left is Benny's printer.

Just because the space rock hasn't come yet- doesn't mean it's not coming. Btw, just who the fuck is the Jimmy Carter crowd?

Tue, 01/29/2013 - 21:58 | 3197336 knowless
knowless's picture

totally bro, if you hold physical silver liquidate that shit. hold cash. this trend is so over. like whoa. take your money now and forget about it. hard assets are like, not worth holding.

 

 

seriously though, still looking at low teens, or even five, solid buy, anything else is like, crazy.

 

real though, five dollars, totally in.

Tue, 01/29/2013 - 22:08 | 3197376 SilverDOG
SilverDOG's picture

sarc right.

Had me laughing.

You'll never see five. 

I'd buy all @ ten.

Tue, 01/29/2013 - 22:19 | 3197413 knowless
knowless's picture

no, no.. like um.

 

so ok, the duration on your silver needs to get way shorter, like, you need interest now. cause that shit is just not appreciating usd relative. ok? so you need to sell it so you can invest in something that has a real return right?

like

 http://www.treasury.gov/resource-center/data-chart-center/interest-rates...

at .27 you really can't go wrong. great buy for the little guy. but you should probably look into a good manager who understands the curve, return can vary based on buy-in, good to have someone in your pocket who really knows the ropes.

 

my honest to god price target is 4.37, let the fucker fall. i want to be able to trade half a can of beans when it hits.

Tue, 01/29/2013 - 22:42 | 3197488 knowless
knowless's picture

goin for the red here, please, diversiffy your portfolios across government bonds, corporate equities, and currencies, it's only in your best interest after all.

 

http://www.youtube.com/watch?v=JmcA9LIIXWw

 

no way to know what will actually hold value 5 years from now after all.

 

unless you let the professionals decide, then you have a guaranteed income... free of all that pesky risk.

 

you know the crazy part, my above will most likely be true at least in retention.

stand alone.

Wed, 01/30/2013 - 03:12 | 3197979 Curiously_Crazy
Curiously_Crazy's picture

Haha nice one.

+1

Tue, 01/29/2013 - 23:52 | 3197691 Burnbright
Burnbright's picture

Hmm you might have been right had their been RECORD PRICES, but rather this was RECORD SALES and the price went NO WHERE. 

Record breaking sales and the price doesn't budge... something does not add up. 

Tue, 01/29/2013 - 21:47 | 3197296 nmewn
nmewn's picture

We need a corresponding chart of gun/ammo sales and IRA/401k/bank deposit withdrawls.

Just for, ya know, context ;-)

 

Tue, 01/29/2013 - 21:59 | 3197338 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1  Precious metal Pb (when moving fast enough) has been sold out for weeks in popular sizes.

Tue, 01/29/2013 - 23:19 | 3197610 new game
new game's picture

funny you mention that-i can atest to 100 percent 403>silv phys, glock cz and lead of equiv.

nasty tax and 10% usery-dont care as the 401 black hole legistation / commitee on the honorable

senator reids desk. give er time and argentina style consfication a coming. too big to ignore...

more to go get-runout of excuses-legite that is.

Wed, 01/30/2013 - 00:57 | 3197816 AgAu_man
AgAu_man's picture

Last fall I borrowed from my 401k to buy PM. Boy, were they trying to twist my arm and leg, not to do that.

Wed, 01/30/2013 - 02:35 | 3197941 Freddie
Freddie's picture

Dudes- if you could get a gun, almost any gun, any ammo or hi caps - they would be outselling shitty iPhones about 10 to 1.   Even .22 LR is almost impossible to find.

I lost my .22 cowboy gun in a boating accident.  The noise scared me anyway. I have a Gun Free Zone sign in the yard so I have that goin for me.   The Dali Lama gave me the sign.

http://www.youtube.com/watch?v=TkLH56VlKT0

Tue, 01/29/2013 - 21:48 | 3197299 lunaticfringe
lunaticfringe's picture

I ordered 400 oz. last week. Molon labe IRS.

Tue, 01/29/2013 - 23:03 | 3197547 a growing concern
a growing concern's picture

The only precious metal that I can afford 400 ounces of is copper jacketed lead.  I think it will withstand inflation pretty well, though.

Tue, 01/29/2013 - 21:51 | 3197307 unrulian
unrulian's picture

stay grounded...buy maples

Tue, 01/29/2013 - 22:45 | 3197498 jackinrichmond
jackinrichmond's picture

maples are great, but check out first majestic's rounds..  they're works of art.

Tue, 01/29/2013 - 21:52 | 3197313 TimmyM
TimmyM's picture

Jokes on you-they're radioactive!

Tue, 01/29/2013 - 21:55 | 3197326 unrulian
unrulian's picture

jokes on you.....how do you think i'm going to find them in the lake.

http://rolffreitag.de/projects/gmz/

Tue, 01/29/2013 - 21:54 | 3197319 JohnGaltsChild
JohnGaltsChild's picture

The dollar is going the way of S&H Green Stamps.

Tue, 01/29/2013 - 21:56 | 3197328 Wakanda
Wakanda's picture

I'm stell eating off of dishes "paid for" with S&H Green Stamps.

Tue, 01/29/2013 - 22:00 | 3197342 WmMcK
WmMcK's picture

I still have Plaid stamps from the A & P -- are they still worth something?

Tue, 01/29/2013 - 22:06 | 3197361 JohnGaltsChild
JohnGaltsChild's picture

Sure. I'll trade you my Pete Rose Rookie Card. How many ya got?

Tue, 01/29/2013 - 22:13 | 3197389 WmMcK
WmMcK's picture

I don't have that many -- how about a Gary Peters or a Ron Hunt for 5 books?

Wed, 01/30/2013 - 05:22 | 3198039 CompassionateFascist
CompassionateFascist's picture

Larvel "Sugarbear" Blanks. Worst Mets 3rd baseman ever. There are no known examples of his card. Find one, and U will B fabulously rich. 

Wed, 01/30/2013 - 18:53 | 3200574 JohnGaltsChild
JohnGaltsChild's picture

Sorry, no deal. I'm lookin' to be the S&H Green Stamps Hunt Brothers equivalent. Gotta go big.

Wed, 01/30/2013 - 02:27 | 3197944 Freddie
Freddie's picture

LOL! Hilarious irony.  I think the last owner of S&H was Berkshire Hathaway.  The guy who hates gold and his partner Charlie Mungo calls gold a "barbaric relic."  Buffet also bought worldbook encyclopeadia befoire that died too.  

Well his old man was a Nebraska U.S. Senator or one of royalty who have ****ing driven the country into the dirt.  Warner Buffert knows all the govt scams.  Hey Beffert - go take a ******g dirt nap.

Tue, 01/29/2013 - 21:54 | 3197320 Bansters-in-my-...
Bansters-in-my- feces's picture

So...... Supply and demand does not seem to drive up prices in the precious...?

Something not right there eh,Bart....?

Tue, 01/29/2013 - 23:34 | 3197645 new game
new game's picture

market a tad bigger than silv eags.

pumping all the gas i want for 3.40; should be cheaper i filled up...

Tue, 01/29/2013 - 21:54 | 3197321 Wakanda
Wakanda's picture

The Second American Revolution - 140,000 oz Au and 7,400,000 Ag closer to honest money.

Them's my peeps!

Tue, 01/29/2013 - 21:55 | 3197323 Silver Garbage Man
Silver Garbage Man's picture

Only a very small hand full of people are holding PHYSICAL SILVER. I am one of them. This is getting very close to the moment us silver bugs have been waiting for. It's going to be FUN to watch this play out. I'm not talking about the chaos but the silver bomb!

Tue, 01/29/2013 - 22:15 | 3197399 klockwerks
klockwerks's picture

Silver man, hard to believe that "just a handful" of folks own physical. If that's the case where did all that physical go?

Tue, 01/29/2013 - 22:44 | 3197490 XitSam
XitSam's picture

Where did it go?  I assume you've heard about Lake Muckybottom?  

Silver Garbage Man - I don't think it will be fun at all, it might be the worst this country has seen in about 235 years.

Tue, 01/29/2013 - 22:52 | 3197514 Silver Garbage Man
Silver Garbage Man's picture

The silver price explosion will be fun not the chaos around it. There will be all kinds of devastation, we all need to be prepared, and be ready to help others. The collapse is right around the corner.

Tue, 01/29/2013 - 22:45 | 3197493 Tango in the Blight
Tango in the Blight's picture

Into Lloyd Blankfein's safe and your iPhone.

 

Tue, 01/29/2013 - 22:55 | 3197518 Silver Garbage Man
Silver Garbage Man's picture

1 % or less of the population is a small handfull REALATIVLY!

Tue, 01/29/2013 - 23:09 | 3197568 akak
akak's picture

Derngummit, stop a'tryin' to confuze me!

Damn, maths is hard!

Tue, 01/29/2013 - 21:56 | 3197327 Argos
Argos's picture

I prefer to reference my silver and gold ownership in tons.  Let me see,

where did I put that decimal place again?

Tue, 01/29/2013 - 21:57 | 3197334 BeerBrewer09
BeerBrewer09's picture

Maples for the win.

As a side note, my local coin dealer stood in line this morning to buy a Ruger AR Rifle not because he wants one, but because his government doesn't want him to have one.

Just awesome.

Tue, 01/29/2013 - 22:04 | 3197352 DoChenRollingBearing
DoChenRollingBearing's picture

Remember to tell your coin dealer friend that he can always "sell" any weapons at gun shows: "Yes, I got cash from the Dealer, no paperwork..., Sorry."

Tue, 01/29/2013 - 22:00 | 3197341 LongSoupLine
LongSoupLine's picture

I did my part.

 

 

Fuck you Chairsatan fucking Bernanke, fucking bank wrench choking piece of shit.  and fuck you Blythe, punched out fucking whore.

Wed, 01/30/2013 - 00:54 | 3197812 Al Huxley
Al Huxley's picture

Aren't you supposed to be out getting drunk about now now?

Tue, 01/29/2013 - 22:02 | 3197345 Rob Jones
Rob Jones's picture

140,000 ounces of gold and 7+ million ounces of silver. Well, that accounts for my January purchases. But isn't anyone else buying?

Tue, 01/29/2013 - 22:02 | 3197349 Northern Lights
Northern Lights's picture

I currenlty have 9 1oz gold coins from various mints.  Should I add another? hmmmmmmmmmmmmm, I do already have an air-tite capsule in waiting.

Tue, 01/29/2013 - 22:07 | 3197367 They Tried to S...
They Tried to Steal My Gold's picture

Yukon Cornelious for President

 

 Silver

Silver and gold
Silver and gold
Silver and gold
Ev'ryone wishes
For silver and gold
How do you measure
It's worth?
Just by the pleasure it
Gives here on Earth
Silver and gold
Silver and gold
Mean so much more
When I see
Silver
And gold decorations
On ev'ry Christmas tree
Silver, silver and gold
Silver, silver and gold
Silver and gold

Silver and gold
Silver and gold
Wise men brought gifts
To the mange I'm told
Mary was humble to see
Shepherds and kings
There on bended knees
It's silver and gold
Silver and gold
Feeling the world
With their lives
Silver and gold
How they shimmer
On ev'ry Christmas night
On ev'ry Christmas night

Silver
Silver and gold

More lyrics: http://www.lyricsmode.com/lyrics/b/burl_ives/

Tue, 01/29/2013 - 22:10 | 3197381 Canadian Dirtlump
Canadian Dirtlump's picture

nice gold to silver sales. 50 plus to 1, sounds sustainable. i love it.. i got some slave queens, triviums and on friday ill get some freedom girls then back to radioctive maples until thingsgo retard.

Tue, 01/29/2013 - 22:11 | 3197386 TheMayor
TheMayor's picture

An ounce of silver is $31 and they are charging $60 for a 1 ounce coin?

Why would anyone buy this?

This is serious question, I just don't get it?

Who is buying this stuff, coin shops?

If I wanted to own some gold or silver, are there not better ways?

Tue, 01/29/2013 - 22:20 | 3197417 Au Shucks
Au Shucks's picture

WTF you talking 'bout Willis?  $60/ozt silver?  who the hell said that?  another brown paper bag-head nutter above folks

Tue, 01/29/2013 - 22:28 | 3197448 IndicaTive
IndicaTive's picture

Find a local coin shop Mayor. A reputable "We Buy Gold!" guy will do just fine. Buy 10 or 20 Eagles for whatever he'll sell them to you for. Talk about the premium he's charging. Give him your monthly spend prediction and lock in a spot + prem price with him. If you've met a good guy you'll converse with him occasionally, and be able to haggle prices and talk shop at the same time.  give and take. And never pay more than $3 over spot for small cash-and-carry orders, unless you're doing him a favor. And discuss Monster Box orders with him.

Tue, 01/29/2013 - 23:12 | 3197583 Sean7k
Sean7k's picture

62.95 is for a proof. You can't buy bullion eagles from the mint. They only go to 6 special dealers, who then sell them on to smaller dealers. The proof is a collectible with a mirror finish and smaller mintage. You don't understand, because you're ignorant of the topic. 

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