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US Mint Sees Record Silver Sales In Q3 As Physical Demand "Is Absolutely Through The Roof"
Having recently pointed out the surging premiums for physical gold and silver relative to the 'paper' prices spewed forth by the mainstream media, it will likely come as no surprise that, as Reuters reports, "silver [coin] demand is absolutely through the roof," according to the Perth Mint. Confirming the demand side is the U.S. Mint sold 14.26 million ounces of American Eagle silver coins in the third quarter, the highest on records going back to 1986. Dealers and mints trace the supply squeeze to a burst of buying by mom-and-pop investors in the United States, who scrambled to scoop up coins they considered to be at bargain levels after spot silver prices in early July sank to six-year lows.
The global silver-coin market is in the grips of an unprecedented supply squeeze, forcing some mints to ration sales and step up overtime while sending U.S. buyers racing abroad to fulfill a sudden surge in demand.
The U.S. Mint began setting weekly sales quotas for its flagship American Eagle silver coins in July because it can't meet demand, and the Canadian mint followed suit after record monthly sales in July. In Australia, the Perth Mint sold a record of more than 2.5 million ounces of silver this month, nearly four times more than in August, and has begun rationing supply of a new line of coins this month, a mint official said.
"Silver [coin] demand is absolutely through the roof," said Neil Vance, wholesale manager at the Perth Mint. "There seems to be a bit of frenzy as people think there is a shortage of silver. But in fact it is a (crunch in) manufacturing capacity."
While demand has risen in response to the slump in spot prices to $14.33 an ounce in late July and its subsequent drop to fresh six-year lows below $14 an ounce in August, mint officials also said they were caught out by the sudden interest in coins. In July, the U.S. mint halted sales for almost three weeks after running out of "blanks", which are used to make coins.
The spread between silver and gold, a closely watched gauge for the precious metals markets, has risen to its highest in the third quarter since a brief silver frenzy following the financial crisis. Silver coins typically outsell gold anyway because they cost less, but the wide spread meant the silver price is 76 times cheaper than gold, making it even more appealing than usual to investors.
The U.S. Mint sold 14.26 million ounces of American Eagle silver coins in the third quarter, the highest on records going back to 1986. The Canadian mint has been limiting sales of its silver Maple Leaf coins since July after record monthly sales that month, an official told Reuters. Sales were at all-time highs in August and September.
With North American mints overwhelmed by orders, investors and collectors were forced to look overseas for increasingly scarce supplies, triggering a domino effect in Europe and Asia.
"We can only get a fraction of what we could sell," said Terry Hanlon, president of Dillon Gage, one of the world's biggest precious metals dealers, based in Addison, Texas.
Hanlon said he has seen premiums for coins, which are paid on top of the spot price for physical delivery, surge to about $4 to $5 per coin in wholesale deals, compared with $2.30 in June.
For now, however, coin dealers are riding the wave.
Bullion dealers around the globe who typically offer next-day delivery are now taking silver coin orders several weeks out.
"I don't expect things to get better until next year," said Gregor Gregersen, founder and director of retailer Silver Bullion based in Singapore.
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no offense but u guys r late with this as i posted it this morning...
still appreciate u though....just sayin......
nothing to see no real shortage just a bottle neck in getting out of the ground.
"Silver [coin] demand is absolutely through the roof," said Neil Vance, wholesale manager at the Perth Mint. "There seems to be a bit of frenzy as people think there is a shortage of silver. But in fact it is a (crunch in) manufacturing capacity."
rick rule of sprott gave a great interview (as always!) a few days ago, noted that there isn't currently a supply shortage of silver, just a supply shortage of retail (minted) product:
https://www.youtube.com/watch?v=bI0dAJ_NzRk
And yet, the price remains $14.50 in fiat dollars. How do they do it? You've got to give them credit... they're masters in illusion, delusion and lies. Reality will bring it all to an equilibrium soon though. Economics are as much in the grip of nature's laws as physics.
CNBC Story Shows Mainstream Misunderstanding of Unprecedented Silver Coin Demand Posted earlier this afternoon
Why would I want silver when the Fed can print an infinite amount of dollars?
:)
Because its real and the FED is in your head. They will make those dollar worthless just like they have for the past 40 some odd years. Look at the long term dollar value chart? They haven’t done a dam thing to make it more valuable. Just printing makes it less valuable, people just don’t realize it. Think of it as a reverse split, they keep dividing the value up(which there is no longer any). It means you get more dollars that are continually worthless. Notice your monthly bills going up? BINGO. Why wouldn’t people want silver at these prices? Because they don’t understand value.
At some point the big industrial boys are going to feel the price is low enough to consider a stock pile? What do you think is going to happen then? after all these years of deficit? After all low prices dont last forever and silver will never go out of business.
The more they print the worse our problems will get, distortion will be in multiples, if its not already.
They're going to have to put a stop to people dumping their PMs at the landfill soon at this rate. Like the restaraunt nobody goes to any more because it's too crowded.
Time will tell. Ill put a basket out in front of my door just toss them in Ill throw you a dollar for each? Ive never known someone with a pile of gold or silver to be poor? Whats the reason for the word "Precious"?
Maybe if there is enough gold around that we can afford to bring it to the dump, lets let Germany have THEIR gold back? Oh ya.... we cant just yet. Really the check is in the mail.
Does anyone have a problem with SilverInstitute.org stats? https://www.silverinstitute.org/site/supply-demand/ Check out NET BALANCE and consider we have yet another Projected Deficit year? It cant last forever? Lots of silver gets used up and has gotten used up, unlike gold.
Also nobody, nobody read that again NOBody mines silver purposefully. Its a side product to other metals mining. Ponder that for a second.
Now think about the mining collapse going on in commodities. Most Silver is a byproduct of copper and gold mining but mostly copper. Copper prices are in the shitter. As copper miners go under silver production will grind to a halt. And this demand side shortage will show its real head as a true systemic shortage.
But what do I know I'm just some fucking yayhoo.
Not afraid to be a yahoo here. Its so under appreciated. I personally love silver, its a healer, it has so many unique properties and lots of people hate it right now. It really, truly is for me. As with anything under the FEDs control there are no guarantees.
Teh we gonna take all of y0vr siver c0inz and melt tehm down to make BITCOIN MINERZ! BUAHAHAHAHA eR AAHAHAHAHA... agAUBTCH!!!
Good Luck! Ill just cut the power to get rid of you.
I carry a 1921 silver morgan and a 1 oz copper round in my pocket. I call them my hand sanitizer set.
Just leave the shit in the ground and problem solved..
Its amazing how many want something for nothing and thats exactly what a dollar is right now. How long does everyone think that lasts? all on one side of the spectrum. It tilts everything out of balance. I trade my work for real work because I know what work is. Im not trading my work for promises because I see how our politicians keep those promises. They seem to have lots of promises to keep if everyone wants something for nothing? Not much production, value or worth there.
Mainstream media! It's unbelieveable how it still exists! Amazing how so many people beileve eveything they hear on the tv. Turn it off and cut the chord.
they never will they turned off the thinking circuits years ago, and now the thinking gears are frozen like the engine of a rusty studebaker in a tall weed junk yard.
Mainstream media! It's unbelieveable how it still exists! Amazing how so many people beileve eveything they hear on the tv. Turn it off and cut the chord.
I was preparing to cut the chord, but the MSM said it was a bad idea.
The CNBC article is very suspect it just says shes wrong because she is an amateur, they do nothing as far as stats to back that article up? You have company heads saying if they could get more they could sell more?
The silver defict this years is estimated to be around (57 million oz) if im not mistaken based on a silver insitute estimate.
http://www.kitco.com/news/2015-07-28/Silver-Continues-To-See-Positive-Br...
Before all this BATSHIT CRAZY DEMAND. http://www.kitco.com/news/2015-07-28/Silver-Continues-To-See-Positive-Br... From article:
"Silver also continues to see strong industrial demand. The institute noted that silver use in the renewable energy sector, as the metal is a key component in solar panels, is expected to increase 8% this year to 65 million ounces.
“The increase is due to the U.S., which had a 76 percent increase in solar installations in the first quarter of 2015 when compared to last year,” the report said.
The report also highlighted that while silver demand remains positive, the metal is expected to see a growing supply deficit of around 57.7 million ounces, the third consecutive yearly deficit."
Ive also seen estimates of an 81 million oz deficit for 2015. I think the CNBC article is B.S. Low on proof.
What does it mean to have a deficit? There are only transactions. It would be like saying "there is a deficit in cars produced". Price solves everything and there is only exchange - unless you think there is a "proper amount" or that the amount desired is the "right amount".
It means you dont have enough supply to meet demand and there are reserves. Some think that the US mint is not buying enough to meet demand so they can divert other supply to China Russia and India. They can make citizens wait which is against the law, because we put up with it. Just the fact that they cant meet demand is against the law. I wouldnt put it past our gov to be tomb raiding in the mid-east at this point. People need to use their brains, I cant help you if your not capable of opening your mind a bit. The lack of supply is a real situation. People will find out the truth, they always do. Its a finite metal and there has been endless printing. Anyone with half a brain turns their fiat into real in this situation why not?
Its really something when there is a deficit and the price doesn’t go up, then you know pretty much there is something manipulating price. Natural price increase usually wards off deficit. Thats my opinion.
I agree they are sneaky. Inflation works that way. Most people don't realize that money printing is theft. We need to abandon the federal reserve system Too bad their is ony one candidate in the race who wants the Fed audited and ended!
We have to try to side-step the fed's net. www.UPMA.org looks like a great opportunity for this. Trading and exchanging real gold and making purchases with a gold american express. Hopefully, more people start switching to this system and out of the debt dollar system.
Stacking silver is impoirtant when it all collapses as well, but we need to spread the word of sound money to our friends and family. Candles with silver coin prizes (https://www.etsy.com/shop/ScentSavers?ref=hdr_shop_menu) have helped several in my network to start stacking.
We can't rely on politicians to change anything. Un-bank as much as possible!
Thanks for mentioning something useful along with your Spam.
I've opened an account with UPMA thanks to a prior ZeroHedge article and I encourage everyone else to do the same. UPMA doesn't make loans (of course), but they do charge a small monthly fee. They have "Bill Pay", but no checking account yet. Account Manager Jeremy Cordon said in an email to me that:
"When the zerohedge article came out we got hit with hundreds of emails and voicemails all at ounce so we have been playing catch up. We are all caught up now."Yeah, I set up an account there. I saw it at www.popularliberty.com a day or two before being posted on zerohedge. So I think I slightly beat the rush.
Their customer service seems good and the website has already improved. From the interview I heard on popularliberty, expect them to vamp up pretty soon.
Exciting times!
Appears legit but I own PMs for NO THIRD PARTY RISK. Sorry
I think once their done tomb raiding in the mid-east we will see the real price.
Yeah well (P)Rick Tool has said October will be the capitulation to end all capitulations so why would he admit it is a supply shortage. He is a big vulture that is always calling for lower prices. He has been right but he is not a person you want to have on your side in a fight.
Not many markets where manufacturers are so badly outstripped by demand. Dumb bastards just can't make enough I guess. Silver coins must be a very new technology where levels of demand are poorly understood. L O L
"I don't expect things to get better until next year"
Hahahaha like when the COMEX is shut down and Dow is at 7000?
Bought 2014 and 2015 proof silver mint sets a couple of weeks ago direct from the mint.gov, took all of two days to recieve the order. (While I buy bullion, I'm now buying birthyear sets for my grandson(s, got a new one on the way!!) along with silver eagles for each birth year.
So I might have contributed to those numbers to a degree or two.
So why are prices so low..........I am beginning to think the market is broke..........
A consortium of silver consuming companies flood the market with silver futures to bedazzle the AI traders. One good run would unravel the whole scheme, and probably everything else.
So why are prices so low..........I am beginning to think the market is rigged.....
There, fixed it for you ;)
I get a lot of boiler room cold calls to invest in garbage. Telling them I won't invest in a rigged market with examples from 2015 is a very easy way to get taken off the spam list. Physical silver can go down to $0 since the miners will just take out more loans to bring it out of the ground. So what happens when the paper goes to $0?
The demand on silver is low. Don't mix demand on coins with demand on silver :P Global recession is on the move. Producers need less silver so price goes down. Bullion coins is just a tiny fragment of silver market.
LCS is out of everything even 100oz bars here.
Looking closely at provident and apmex, there isn't that much near spot in 1oz and 10oz rounds or bars. Quite a bit of what is near spot is also pre-sale or delayed shipping. For now is looks like silver spot stays between $14-15 with about a $1.50 markup per oz. Apmex sure has a lot of 1oz coke branded bars in the $150 range.
From what I've seen lately, in small amounts (ten coins or less), silver eagles currently have a premium of 40-50% over spot regardless of where you order them from. That's a pretty big disconnect between the physical and paper markets as far as anyone's concerned.
Not seeing that here(east coast of central FL). My LCS has eagles and maples for 19, rounds and gen bars for 18. He had 5, 10, kilo, and 100 oz bars too. Don't know the premium on those, didnt ask. He had those big aussie kilo coins, and a couple 100 oz bars. There were the usual stacks of 1, 5, and 10 oz bars. no shortage, just paying a 15-20 % premium, as you would expect. Same with gold. Its been a few weeks since I pai attention to his gold, but when gold was around 1135, he had eagles and buffalos for 1194.
The only thing he didnt have that is usually there is the tray full of junk silver and there are usually all the coins from the major govt mints from around the world, only the US and canada. but silver and gold could be purchased for the normal(these days) premium
My LCS has eagles and maples for 19 . . .
I was actually talking more about on-line sales but even at $19/coin that's almost a 30% premium over spot right there.
pretty much the same story at mine on monday when i stopped in to get their take on the situation...
nothing in bulk...just an assortment of stuff...no 100 or 10oz bars....
mostly a bunch of metal that i woudlnt normaly purchase...ive become picky as now i buy what i like having reached the oz marks i set back in 2008...
picked up the 5 old School Libertads they had...paid $20 and change just cause i love those coins...
The miners ought to go find more profitable pursuits.. Have you seen the price of decent apples? Those things are more precious than silver.
You guys should go pick apples. At least until Jamie and his crew start shorting the piss out of them, too.
All this gloom & doom.
Let's pick it up a bit...everyone remember when Gibson Guitar was raided by the Feds? Of course you do...well, this is what you need to know...
"As the most legendary solidbody electric guitar of all time, the Les Paul just had to play a part in our celebration of an infamous moment in Gibson’s history: when the Feds confiscated stocks of precious tonewoods from the Nashville factory. The Government Series II Les Paul makes a bold statement for any revolutionary rocker, using the wood that the Feds ultimately returned to Gibson (Edit: After paying Gang-Member-in-Chief the extortion tribute of $500,000 and a parlay with another pack of pirates of $50,000 to the Fish & Wildlife Foundation) after the resolution and the investigation was concluded. The original foundation of carved maple top and mahogany back with modern weight relief for improved playing comfort and enhanced resonance is dressed up in a vintage-gloss Government Tan finish, with the Government Series II graphic on its black pickguard (in the case pocket)—a bald eagle hoisting a confiscated Gibson guitar neck—and black chrome hardware. A genuine piece of Gibson history comes in the form of a solid, one-piece rosewood fingerboard made from stocks returned after the resolution, and each guitar includes a Certificate of Authenticity signed by Gibson CEO Henry Juszkiewicz. Scorched-earth tone is assured by a pair of Dirty Fingers+ humbuckers, among Gibson’s hottest pickups ever."
Oh yeah baby.
http://www.gibson.com/Products/Electric-Guitars/Les-Paul/Gibson-USA/Gove...
So, I guess the principle of the wood wasn't as important as the money afterall ;-)
wow. I thought that was just hyperbole until i clicked on the link. that.is.fucking.awesome. the government, creating libertarians with their own stupidity one person at a time.
Sometimes the cold truth really does look like Pirates of the Carribean type hyperbole, until one really drills down into it. Arrr, thar be gold in dat der mast of Queen Gibson...arrr...avast me hearties you son's of dog's!...let's ravish her booty and be away with it!!!...arrrr...lol.
What is more awesome is that Zero Hedge covered it in 2009.
There is less bullshit in Zero Hedge articles, other than Mike Snyder, than is to be believed. ZH seems to have an instinct for bullshit years before it's declared bullhsit.
Thanks for the link mnewn. I have 17 guitars stashed around the world and not a single LP. Simple reason is that I broke my left collar bone when I was a kid - right where the strap sits - and always sought out lightweight guitars. But those are very nice looking to me. And they make a political statement which in this case in pretty cool.
Welcome sir.
It was always of personal interest to me on many levels. Making the statement shows balls, you can take my shit (of course) cuz you have more guns and have contrived some sort of law to your side.
You cannot take take my freedom however, unless you kill me in front of everyone here.
Then I win.
Checkmate ;-)
Haha, the really nice part is that I recently got an email from musicians friend saying that I have a $500 credit that I was completely unaware of. I have no recollection of where I missed it but a few years ago I was going through a lot of gear. But I had no idea where to spend it and it's too late to cash it in due to state laws or some other bs. So with christmas approaching...
So, I guess the principle of the wood wasn't as important as the money afterall ;-)
Because money doesn't grow on trees but wood does.
Silver Biaches.... #SilverStackers
Just FYI: We are having no difficulty at all buying industrial 4N silver at the spot market. I think we bought 8000 tr oz last week.
Hey Gramps - For us dummies, what exactly is "4N silver"? Thanks . . .
4N is "four nines", i.e. purity is 99.99%
metals used for industrial processes, especially for electronics (and especially for electroplating) are sold by # of nines of purity.
There ya go, Another Gramps steps up to educate those who should already know. Why weren't you taught this? That's the next question you should be asking.
Talked to our mining VP. We crush about 100k tons of rock per day, in various mines, for aggregate use in Readymix concrete, all the rock is washed as it's crushed. At the end we have these piles of sparkling clean rocks of varios sizes. (It's an awesome tour!) I asked, in that washing process, would it be possible to have access to the old fabric screens?
He motioned for me to go into his office. I'm going through all those old fabric screens, you're welcomed to go through the ones I've gone through ten times. Made it pretty clear that he's gleaned everything that could be gleaned. Fart sother mucker who acted dumb as shit my first eight years in this company.
I'm now very trusted.
Good information. Thanks. Now if the price drops further is there a price that you would consider stocking up at all? I dont care about the price just wondering if your contemplating it? And do you pay attention to or fear a supply issue? and would price make a huge difference in what your doing? Thanks ahead.
So, demand is going up and price is going down. I know I slept through most of my freshman econ 101 class, but I'm pretty sure that's not what's supposed to happen. Maybe I had a lousy professor.
Whenever governments price-fix, there rises a black market in that commodity. No different here. I'll bet not only will dealers increase the premium for retail buyers of silver. The dealers will also increase the amount they will be willing to pay for silver.
Unless of course the wheels come off. Then spot silver will find it's true price.
Black Market = Free (of gubbermint meddling) Market
I just call it the Free Market.
So, demand is going up and price is going down.
When you think about it this pretty much follows how .gov operates to a "tee" . . . that is if they tell you one thing you can be damn sure that the opposite is actually true - think; "Patriot Act", "Freedom Act", "Cyber Security Act", etc., etc., etc.
When steak goes down in price, do you buy more steak?
I get where you're coming from though. The butchers are selling the steak that's still mooing, but it's not affecting today's steak prices. It's just unavailable today.
Sounds like the stories of "shortages" during the war, or perhaps in the old USSR.
Of course there is no inflation! Ground beef is about all "little folks" can afford when they put beef on the table. Wages did not go up.
http://data.bls.gov/timeseries/APU0000703112
You know things are bad when they are putting feces in ground beef. Cellulose and pink slime were bad enough.
http://thefreethoughtproject.com/consumer-reports-study-finds-ground-bee...
"Silver (coin) demand is absolutely through the roof," said Neil Vance, wholesale manager at the Perth Mint. "There seems to be a bit of a frenzy as people think there is a shortage of silver. But in fact it is a crunch in manufacturing capacity."
Well if that isn't about the dumbest assessment I've ever heard. Why is there suddenly lack of capacity to crank out silver coins fast enough? Did some of the mints burn to the ground last week? Funny, I never saw anything in the news about mints being swallowed up by giant sinkholes.
No, the reason the mints can't keep up is because demand is through the roof. And why is demand through the roof? Because the producers of blanks can't get silver. And why can't they get any silver? BECAUSE THERE IS A F'KING SHORTAGE OF PHYSICAL SILVER, YOU GOD DAMNED RETARD. AND YOU'RE A MANAGER AT A MINT?
This idiot's reasoning is the same as the gas station attendant saying "There is a problem with the gas pumps sir. They are pumping gas as fast as they can... that's why there's no gas going into your tank. Meanwhile, underground, the 15,000 storage tank is empty."
and we have a winner....
Or, the mints are a .gov run agency, yes? Do you really expect a bunch of gubmint drones to run an efficient flexible profitable biz? The private mfrs have a hard time also, remember .22lr ammo?
Prices on .22 lr are still stupid high.
The silver defict this year is estimated to be around (57 million oz) if im not mistaken based on a silver insitute estimate.
Before all this BATSHIT CRAZY DEMAND. http://www.kitco.com/news/2015-07-28/Silver-Continues-To-See-Positive-Br... From article:
"Silver also continues to see strong industrial demand. The institute noted that silver use in the renewable energy sector, as the metal is a key component in solar panels, is expected to increase 8% this year to 65 million ounces.
“The increase is due to the U.S., which had a 76 percent increase in solar installations in the first quarter of 2015 when compared to last year,” the report said.
The report also highlighted that while silver demand remains positive, the metal is expected to see a growing supply deficit of around 57.7 million ounces, the third consecutive yearly deficit."
Ive also seen estimates of an 81 million oz deficit for 2015. If silver were an iphone with this type of demand PRICE would be through the roof. The powers that be hate the PM's because they tell the truth.
They just need to call it isilver so the trendies jump in. They are freaking out rationing it, that’s why there are a bunch of no stat Dickheads on here trying to convince everyone there is nothing to see here.
Everyone else is the expert. Not to mention Gold/Silver ratio which really seals the deal. There is dwindling supply period.
Just Remember BATSHIT CRAZY DEMAND IN GOLD AND SILVER IS AN INDICATION, THE CANARY IN THE COAL MINE.
Does anyone have a problem with SilverInstitute.org stats? https://www.silverinstitute.org/site/supply-demand/ Check out NET BALANCE and consider we have yet another Projected Deficit year?
It is outrageous (the premiums).
I exchanged some fiat for real money a week or so ago. My dealer was almost apologetic showing me what was left for me to choose from...AND...the cost incurred just to provide this paltry sample.
It is what it is.
It is what it is!
I am surprised he would accept your worthless paper!
lol...I'm sure he can unload it on someone, maybe on GRU who keeps the lights on in that area, they are afterall a "government owned utility" ;-)
LOL 14 million ounces. and how much is industrial demand?
595 million ounces in 2014 industrial consumption.
Here in S.E. England still plenty of low premium over spot junk coins available Saturday street market in "Boho" Brighton. But then majority of pleebs in this country are,nt really switched on to this kinda thing like prepping or stacking and of course like the nation of slaves that we are , had our guns taken away a long time ago. Guess what the "reason" was, yep, you guessed it , a school shooting and a nutter walking down a High st shooting random people. Just two "incidents" did it here and the muppets rolled over so master could keep them safe . What time is the footie on ?
BY LAW the US Mint is supposed to have enough silver and gold coins on hand and available to "meet public demand". How many times in the last 7 years or so have they violated this law through setting quotas or shutting down sales entirely??? This is just another example of the government ignoring existing laws when they feel like it and when it serves their agenda . . . .
Excellent truth. There are more and more people who think they are doing this just trying to prolong the inevitable. Its funny how the people on the side of PMs are armed in most cases the truth and facts to back up their arguments, this a fine example of truth. Thanks man.
Thanks man.
You're welcome and I appreciate it! I'm currently getting flamed on the Apple/car industry thread (http://www.zerohedge.com/news/2015-10-01/apple-amazon-tesla-and-changing...) by an electric vehicle zealot that refuses to face facts so it's nice to see positive feedback from someone, but I digress . . . . .
Shortage of physical silver - PERIOD
"Coins" is the operative word.
There's plenty of crappy generic stuff available out there for a couple dollars over spot, and I don't mean just for large purchases. Feel free to check with any of the numerous online dealers. Lots of out of stocks, but partially and purposely witholding at certain times. I've been watching one particular bar which comes and goes based on spot...not due to outages, just margin, and I assume it's the same with other products.
90%, on the other hand, is blowing up. E Bay pisses me off (and rapes the seller), but it's nice for price discovery, and a good place to hunt down the rarer and lower mintage stuff. Premiums on these are substantial, however, the same pieces were selling for generally the same premiums when AG was 30, and they will in the future.
If you believe in the story and the fundamentals then 20 -25 dollar silver is still a fucking bargain.
I'll never understand why people shake for Eagles and Maples.......
If you have an issue paying 17 bucks for silver then you are not in touch with reality. There are some expecting 9-12 dollars and I wish all of them luck locating the real deal for much less than what it's available for now.
Bill Murphy & Chris Waltzek on GoldSeek Radio – Sept. 29, 2015
http://radio.goldseek.com/nuggets/murphy.09.28.15.mp3 (10:41)
It doesn't really matter what physical inventories are doing until there is no more and deliveries on paper cannot be met. Then, and only then, will we begin to see the true value of true money. Everything else is speculation. This article is no different than the other half dozen articles that have come out over the last decade making the same claim.
If you have waited until not to diversify your wealth and have some precious metals on hand, then you are playing a risky game. Do not expect the rise of precious metals to be slow and steady. It will be the inverse of the markets.
As Buzz Lightyear is fond of saying... "To INFNITY AND BEYOND"!
Don't worry there is enough silver for everyone... at $1500 per ounce... for a while.
my hundred ounce bars are like meatloaf, I can slice it
A high percentage of sheeple don't even know what a Silver Eagle is. If even 10% bought one Eagle tomorrow think of the ramifications across the board. I can dream but then again the sheeple are involved in SOCIAL MEDIA.
You just buy silver stick it in a safe and let it sit, dumb money investment they say well...
I prefer dumb money that sits there opposed to smart money that evaporates ^^ . . .
Its great when you hear the truth.
And its gon.......oh wait no, there it is right there.
Yep. Just stick it somewhere safe and forget about it. You, or more likely your heirs, will be glad you did.
I once owned some PMs, but certainly kept no electronic record of my PM's purchase, or existence. Do your kids a favor.
NZ mint price is $28 oz for silver kiwi coins if available.. At this price I have stopped buying. I refuse to pay the premiums. For $28 I can buy 7 tins of spam or corned beef. The tins I bought last week have a best before date of July 2019 and will probably be worth much more than one ounce of silver in 2019.
If you haven't already, check out Regal Castings, also in Auckland.
To buy physical silver in NZ is to enter a world of pain, but Regal is probably the least painful place.
For our American viewers, NZ$28 is today about US$17.60.
What the hell..this guy looks at all the turmoil and backorders in the silver market and says this...
Bullion dealers around the globe who typically offer next-day delivery are now taking silver coin orders several weeks out.
"I don't expect things to get better until next year," said Gregor Gregersen, founder and director of retailer Silver Bullion based in Singapore.
How is this going to get better?
Big deal 22% premium.
In whole EU whenever you buy silver bullion you need to pay 19-23% of tax (VAT) silver is consider product not money. EU has taxes for products. Silver has ~20% tax.
Get used to it. EU had artificaly manipulated silver demand by taxing it long time ago.
The City of London Corporation does its best to make it difficult for their fellow countrymen to protect themselves from the City's lyin' and stealin'. Right in those folks own backyard. Just like Wall Street in the States. In a fair market, precious metals is the only way to protect your wealth from those who would lie and try to steal your wealth without confrontation.
Who is buying fiat metal? That stuff is the currency of the US government and highly regulated and the margins go to the Treasury.
Buy blanks, bars, rounds. Forget currency.
I tried to green you five or six times. And in an assortment of lighter weights. The kilo and 100 oz bars are pretty but hard to handle often. And slicing them can be tricky. I own from 1/4oz rounds on up.
lol...Perth Mint officials...thou dost protest too much me thinks!
We interviewed Tom Power, CEO of Sunshine Minting (company who mints the blanks for the US Mint) a couple of weeks back...he advised Sunshine is on pace to produce over 75 MILLION OZ of silver in 2015...triple the amount of oz they put out in 2008...and they have already sold forward essentially the rest of their expected 2015 production.
http://www.silverdoctors.com/silver-shortage-us-mint-silver-eagle-sunshine-mint-tom-power/
Demand is "Unlike anything I've ever seen" were Tom's words.
Authorized Dealers have already sold through expected Silver Eagle allocations through December...which means entire wholesale system will not be offerring Silver Eagles in another week or 2 until the 2016 Silver Eagles come out at the end of January...
If we see ANY further price weakness in silver...or any sort of systemic event/fallout from Glencore, etc....you will see silver premiums blow through 2008/09 levels...
Your Quote: "Authorized Dealers have already sold through expected Silver Eagle allocations through December...which means entire wholesale system will not be offering Silver Eagles in another week or 2 until the 2016 Silver Eagles come out at the end of January..."
So is the U.S. Mint breaking the law by not being able to provide supply? or do they have other products that count also? does substitution count? not sure if anyone knows. U.S. Mint should by law have to supply, no? Everyone on here with no stats to back it up says there are tons of it? Thanks if anyone does know.
Keep in mind, kids! It costs only 5 $ to get that shit out of the ground! Got more of that shit? I gonna 3D print some silver soon...
They have tried for a very long time to replicate the properties of silver and they have not been successful especially with the anti-bacterial anti-disease properties YET. Keep trying! They cant quite recreate everything yet. Thats why every hospital in the world uses silver. Its much harder to replicate than gold for those reasons.
And the only place we can actually make gold and silver is inside of a nuclear reactor. A very small amount can be extracted from spent fuel rods. Nothing worth the cost of getting it decontaminated.
And just for good measure space mining someday will be a consideration because there are a ton of metals in space, but we arent there yet.
It's a joke. Jesus! Don't you remember that guy from 2011-2012? Who frequently said - it costs 5$? Silver was trading around 30-40 $ at the time... sold mine back then - and when prices dropped, I rebought more. Easy peasy.
Bullshit liar.
CPM Group announced that the average cash cost to mine silver in 2013 fell to $9.68 an ounce from $10.01 in 2012. GFMS in their 2014 World Silver Survey stated the primary silver miner's cash cost increased from $9.16 in 2012 to $9.27 in 2013.
And cash cost doesnt mean jack. Miners are pretty much ALL losing money (due to the low prices of the base metals of which 70% of the silver production is a side product) or just breaking even at current prices AND with oil depressed as it is. This may well be the start of the endgame, the accelerating drawing of the inventories... When the big players in industry fear that their supply might get short then all hell will break lose in silver.
It depends what type of mine. There are only a couple mines that are silver only, and their costs range from $10 to $20.
However, the majority of silver (80%) is mined as a co-product (byproduct) of copper, lead, tin and zinc mining. In these cases, the cash costs are only a few dollars an oz. So the bigger problem is the shuttering of copper mines because of very low copper price, which takes their silver production with it. Glenmore is planning to shutter a couple copper mines in Africa.
they're both lying
Silver is in high demand? Really? Us Middle Class folks know real money in hard times. Not sure what the po folk are using. Is Tide still ghetto money? I was thinking of starting up an EBT ETF. Give the proles something to invest in besides MYRA. That died a quiet death rather quickly.
The fundamentals of platinum scream buy much more than for silver or gold yet no panic. Silver salesmen have a real sweet gig going on right now. I own silver but prefer gold and platinum.
I'm seeing serious uptick in demand for 1g AU bullion in Georgia, Philadelphia and California. Over in Canada its the larger (more expensive but better value) 5g bar mostly . August was my best month ever for sales by value, but September was better for volume. However sales are poor this side of the pond, UK sales down somewhat month on month, which is surprising because I have [anecdotal] evidence that it's virtually impossible to acquire small weight bullion in the UK at the moment and minimum purchase amounts are being increased significantly.
www.teamramgold.com/about-us
With close to 1 BILLION ouces of silver mined last year alone I find it hard to believe the "squeese" theory idots that post this kind of articles
silver price is not going to be up any time soon.