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US Mint Head: Bullion Demand Still "Unprecedented"
As every down-tick in the paper price of Gold is viewed as another death knell for the 'global safety' trade; a drop in stock prices is somehow seen as an 'opportunity' to the world's media and status quo maintainers. However, as Reuters reports, Richard Peterson - acting director of the US Mint - explains, demand for US gold and silver bullion remains at "unprecedented" high levels almost two months after the historical sell-off. So that is what the pent-up-demand, 'money on the sidelines' has been waiting for? Notably, Peterson also added that, due to demand, the Mint may resume making platinum bullion coins (after stopping in 2008).
Via Reuters:
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"Demand right now is unprecedented. We are buying all the coin (blanks) they can make," Richard Peterson, acting director of the U.S. Mint, said in an interview referring to the Mint's suppliers.
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Translation: 'the odd-lotters are snapping at our ankles like crazed chihuahuas.'
Dunno 'bout cho, but when Dick Peterson talks, I listen!
The only tried and tested asset has "unprecedented" demand? Goes to show the masses believe in their hearts that the entire PR game we are subject to by the Fed controlled MSM is a farce.
Bullion Demand Still "Unprecedented" - Sooooooo, lower premiums and prices ahead?
Platinum coins, huh?
Ya know, Treasury supposedly still has those 100s of 1,000s of Tungsten 440troyoz blanks they ordered back in the later 70's...
Just mumblin' to myself...
Rerererehypothecation?
Nice...
With the recent GMO/Monsanto/fake wheat scandal, people are clearly hoarding gold so that they can eat it when there's food shortage.
Exploding demand and premia on the LBMA, Singapore, Hong Kong, India, China, etc. and... the price collapses.
Good old supply and demand.
Hot new fire and brimstone on gold from the magnificent Dr Jim Willie - Some excerpts:
« Catastrophe in a USTBond explosion and Interest Rate Swap derivative nuclear event. The USFed has no exit available, as all doors are shut, none an option ...
The aspect Bernanke and his gang of Wall Street bankers cannot anticipate or successfully keep at bay is the attack from the East ... gold trade settlement, the New Gold Trade Standard ... A device has been put in place by numerous nations for trade settlement in barter framework, which has bypassed the USDollar. The Chinese Yuan Swap Facility ... the foundation of a non-USDollar trade settlement ...
Dr Dieter Spethmann ... former Chief Executive Officer of Thyssen AG ... wrote, "Barter and Gold are identical. People who understand this also understand what barter is. Both Barter and Gold allow for free re-valuation of currencies that are blocked by central banks" ...
From Antal Fekete "World trade is facing an avalanche-like transformation, flattening out monetary economy into a barter economy" ...
The Saudis are not in a position to stand as the primary pillar to enforce the Petro-Dollar anymore ... King Abdullah is clinically dead ... the Fall of the House of Saud. With it will go the Petro-Dollar into the sunset ...
The Petro-Dollar is dead, with the funeral only remaining, and a loud thud. When the Saudis cut certain deals with Iran recently over the natural gas pipeline, they sealed the USDollar fate. The Natural Gas Co-op will be the undoing of the Petro-Dollar and even overshadow OPEC. The maestro organizer is Russian Gazprom ...
The East is preparing wide channels to send toxic USTBonds back to London and New York, back to the sender ... the BRICS Development Fund will serve as a vast trading house to convert USTreasury Bonds into Gold bullion ...
The Gold Standard is coming back, but in Gold Trade form ... centered in trade settlement, done brilliantly outside the current system that is dominated by the corrupted London and New York banking elite ... They will drain the West of its gold ... Toxic impaired USTBond debt securities will be returned to sender, the USGovt, in very large volume, which will surely overwhelm the USFed and its Weimar press ...
Europe ... will turn attention and loyalty to Russia ...
the USFed has been doing an experiment, to see if the financial markets can endure a USTBond rise in yields ... hey are managing a Live Stress Test ...
The Gold Trade Settlement platforms assure the higher price, already agreed upon in the grand reset. All is aligned, including the secretive imprisonment of 6000 bankers. »
http://news.goldseek.com/GoldenJackass/1370376300.php
One Friday evening after the markets are closed there will be an "event" that changes your portfolios for a long long time.....welcome to the 120 Year Mega cycle .....
Our "portfolio" won't change at all when this event transpires, but we know what you mean. If you can tell us which Friday it will happen we will bring the keg.
Dinner was delicious. Now I want a mint.
You can't mint a coin out of tungsten. It's too brittle.
The Gold and Silver beatings will continue until premiums improve.
spell "999 fine blank" backward and you get "Blankfein 666"... Spooky.
Unprecedented?
Inconceivable!
new updates from bullion dealers...
http://zysites.com/silververitas/
Out the door @ $27.44 per silver eagle yesterday from the local coin shop, just saying...
Yes, the physical demand is high even if the media and the white shoe boy clubs are bashing down PM's...now we need to have an UNPRECEDENTED spot price, but that will take still a little time .
http://zysites.com/silververitas/
Buillion demand record, Obama/Lew decide to let China avoid primary dealers and buy direct from Treasury??
I smell fear!!!!!!!!1
http://confoundedinterest.wordpress.com/2013/06/05/treasury-allows-china-to-cut-in-front-of-line-china-to-purchase-treasuries-direct-from-treasury/
Gold chinese panda used on the Reuters article, figures.
Now that there is worthy of MASSIVE Retaliation from the Likes of Goldman and the Morgue.. cutting them outa all them commish....
Another 21,000 ounces gold left the Morgue yesterday ; )
http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls
Very old news.
Most ZHers have known this for a year now.The consensus being that
this was done to conceal the NON buying of USTs by the Chinese.
Indeed that is what is now showing. Personaly I don't believe China owns any
UST's anymore,either pledged as collateral,or sold to the FedRes off balance
sheet and kept in their name to retain CONfidence in the market.
Fiat ... aka faithless money.
I'll stick with silver, brass, lead, iridium and rhenium.
My precious!
Unprecedented demand for physical silver can only mean one thing today! The price has risen $.03/oz!
How quaint, you still believe the COMEX has metal...
I love my relics!
Good thing supply & demand have nothing to do with price discovery in this centrally planned reality.
Ask the Japs whether gold was a good investment in the past three months. Gold/yen hit record highs and all that selling a few weeks back wasn't the FED or Jamie Dimon or the BOE - it was simple profit-taking by the wise Japanese investors. Maybe U.S. investors are thinking that the same currency implosion is due to hit the greenback and want in on some of the fun they had in The Land of the Rising Sun.
there is the difference between investors and traders, been living on my june 1999 gold at around $260@ ounce! yes traders got pounded. as an investor i hold for longer than the paper pushers!
I'd rather be a saver with my money in such uncertain times.
Yeah, well since we use cherry picked timelines, I would like to point out that gold is still doing very well over a 3 month period, relative to sophisticated investors' investments in pets.com and jds uniphase back in 1999.
For some reason, the word IDIOT comes to mind here.
I noticed the US Mint withheld end of May numbers on ASE sales so as to not set yet another monthly record. Same old tactics trying to hide real demand.
http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2013
Those numbers will show up next month though, despite the games. I keep these numbers tracked in an excel file based on all the data available, and can tell you that at this point in the year we are 50% ahead of last year, and 600% higher than 2007. It's on pace to be 50-60 million ounces this year, which would be a record by 10-20 million.
ZH tip for wannabe silver US stackers...a secret for silver: Call the local coin shops, listed online or in the yellowbook. Ask for prices on "common US silver commemerative dollars with boxes and certs". Tell them you'ld like 10 or more of whatever they have bulk/common, and you're price comparing(say "even 10 of the same's ok"). You should pay between $18-28 each when buying like this. The mint has new ones at $55-59. Your kids will thank you later.
We should expect volume demanded to be higher when price is lower. What we're really looking for, keeping Fekete's theories in mind, is for volume demanded to increase while the price is also increasing!
The best year for ASE's was 2011 when silver traded between $26 and $48 and spend almost the entire year well into the mid $30's and above $40 for a few months.
In other words, we did see that on the demand side in 2011, and we should be seeing it right now.
http://youtube.com/drutter
he's also keeping track of the data and when it's delayed and ought to be on this month but is posted to the next. Regardless the demand is at record highs.
withheld? it says it right there. 4.087mio in april, 3.459mio in may. fyi: thats a 15% drop.
And the caveat is, we ain't seen nothin' yet!
wheres the chart? i need to see a chart.
Crazy thing is the premium on US Mint bullion... The disconnect between the 'gold price' and the actual 'price of gold' is on full display at the US Mint!
(Current 1/10th oz gold eagle is $195...)
Crazy thing is the premium on US Mint bullion... The disconnect between the 'gold price' and the actual 'price of gold' is on full display at the US Mint!
(Current 1/10th oz gold eagle is $195...)
WE cannot buy Gold bullion direct from the US Mint,it must be Uncirc, and above.
Understood---volume of bullion goes thru dealers.... but, if you want a Gold Eagle or Buffalo proof right now, you can "add it to your cart' at the mint website.
(the one oz buffalo is very pretty and it's $1790 today. Only a 28% mark up over spot)
you do know that those are proof coins right and theyre completely diffrent from bullion coins and they always have that high a premium?
Sorry there, Jake. You're showing your ignorance about coins. You can't mix proofs and business strike coinage as it pertains to value. Proofs are collector coins (numismatic), not stacker fodder. Don't feel too bad, however, Tyler himself pulled the same scam just recently -- or fell victim, whatever.
NO! The mint price includes seigneurage! Coins and small bars have seigneurage value premiums over the larger COMEX good delivery bars. Small coins/bars are always higher premium per ounce over larger bars.
If you want to know the difference between the gold price and the price of gold, you need to compute the total price per ounce of obtaining physical delivery from the comex (e.g. take the gold price, add brinks' delivery fees, COMEX warehouse "out labor" fees, etc.)
Try and take delivery of a gold order from Comex, let us know how that goes for you.
It works fine (at least for now) - where do you think jewelers/goldsmiths get their gold from?
"good delivery bars" are 400 oz.
The preferred jeweler stock is 1 kg bars.
Just say you're someone important like a former CEO of the CME.
Oh wait...
holy fuck, peoples.
get a .9999 fine gold maple 1/10th oz from somewhere like silvergoldbull it's a fair bit cheaper than 195.
Senior Reuter's Editor:
"how the fuck did that article and headline get through our filter!"
"Get Mason, Bavdek and that other author in here immediately, they know better"
"I have Bernanke, Blankfein and Dimon all over my ass and I don't know what to say"
"......heads are going to roll people, i want some heads."
Thought I'd jump on the bandwagon, given the drop in price.
One dealer in town has no gold, but will get it fo me from the broker--for an $80 premium, plus postage.
The other has lots of gold in his safe but none of it is in his display cases. He can't get the price he believes he should be getting.
The other has lots of gold in his safe but none of it is in his display cases. He can't get the price he believes he should be getting.
If he's the one holding the gold, isn't he supposed to set the price?
Dick Peter(son) better be careful what he says about gold and silver demand.
I mean, didn't he get the memo from Benny?
Globalist nearing requirement of US attack via False Flag. Actually at this point the demand exceeds their ability. I'm claiming victory early. We've won. The Tyler's daily dose 5 + years of satirc truth in the face of globalist fiction saved the world.
It's time for Q99x2 to go out and get a fuckin job.
Whoa q99 - don't go full retard with that job thing....
I bought silver online from a reputable dealer sunday night may 19th. i got an email that it finally shipped yesterday
not like this was a huge order either
Yes, many dealers will list product for sale when they don't actually have it in inventory yet. Supposedly, Texas Precious Metals doesn't do that, so if immediate delivery is important to you, you could try them. Or you can use the Nucleo Bullion Exchange.
In my experiences, Texas Precious Metals have had the fastest shipping times.
when i bought it was not listed as delayed...now the entire catalog online is listed as delayed
as long as prices stay surpressed in the cash market, i will keep buying the real thing monthly. silver cannot be sold at 10-15% over spot with delays everywhere while the cash price is ridiculously low. makes no sense at all
I am looking forward to where the US mint prices today are considered a "steal".
I just hope it is in my lifetime.....
Unless you're planning on checking out in the next six months, I'm sure that what you're looking forward to, you will see. Patience, Grasshopper!
Please - the mints are scammers. They charge a hefty fee just to take raw gold and change its shape. Or they sell junk at a high markup (look at the Royal Canadian Mint - they're selling silver plated butterfly coins as if they were made of pure silver!) What we really need is an open mint.
A hundred hungry rodents run up Bernanke's pantleg.
"demand for US gold and silver bullion...unprecedented", bitchez!
r the punters getting the reduction in spot price? i thought the bullion dealers just upped the margin to compensate(themselves).
"In the United States the same bag of coins often masquerades now as the reserve of one bank, and now of another. How far similar subterfuges are employed in the various private banking establishments of Germany is not known, and in the absence of such knowledge it is deemed safer to include the entire paper issues in the circulation. This at least is a known quantity; the " reserves," as experience has too often and too sadly proved, may only exist in the playful imagination of that fortunate class who have secured the prerogative to issue bank money."
-Alexander Del Mar, 1895
And yet I can buy Ag or Au bullion easier than Pb + Cu_Zi_alloy at a local sporting goods chain.
Wait till Homeland Security (aka The Gestapo in 1930s Germany) gets the memo to dry up the gold/silver market for 'strategic defensive purposes.' Then ALL bets are off...
If this is the way that ETFs act, totally removed from the underying asset, I think that all ETFs should be shot.
so if i pick up what's being laid down, phyz gold buyers who were not hot to trot at 1600 an oz, are goin bernake at 1400 an oz.
that's a pretty refined % judgement call i'd say.
methinkest that is more likely the end game of paper gold that is causing the 'conversion', not the price point.
Way to go France! /s
http://translate.googleusercontent.com/translate_c?depth=2&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://www.legifrance.gouv.fr/affichCode.do%3FidArticle%3DLEGIARTI000027438932%26idSectionTA%3DLEGISCTA000027438930%26cidTexte%3DLEGITEXT000006070987%26dateTexte%3D20130605&usg=ALkJrhiGM-fj6VjrfdJv7cvVC2F7XGIfTQ
Will the platinum have a face value of 1 trillion?
(Of course, by the time it is minted, they'll need to up it to 1 quadrillion).
$1404-1403-1402-1401-1400-1399. The daily New York GLOBEX gold slow meltdown is underway...again. And again...and again...and...
.....and the demand is still being met. What does that tell you?