This page has been archived and commenting is disabled.
Silver coin demand is absolutely through the roof” – Perth Mint
If the continuing depression in precious metal prices has a silver lining, it is the enormous surge in demand world-wide for silver. With most mints & brokers experiencing higher than expected demand for silver coins, many are having to set weekly sales quotas after record coin sales.
According to Nicholson, Ananthalakshmi and Harvey, reporting for Reuters yesterday, this rapid surge in demand for silver is due to unprecedented interest in coins from ‘mom & pop’ buyers in the US. “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.”
In addition, there is a perceived shortage in the market of silver coin supply which, according to a Perth Mint spokesperson, “is in fact a (crunch in) manufacturing capacity.”
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.
Read more on the Goldcore.com blog
See also our recent blog on “Premiums Rise and Delivery Delays Increase on Silver Bullion Coins” for further analysis.
DAILY PRICES
Today’s Gold Prices: USD 1106.30, EUR 990.86 and GBP 730.21 per ounce.
Yesterday’s Gold Prices: USD 1145.50, EUR 1027.63 and GBP 752.18 per ounce.
(LBMA AM)
Gold closed at $1114.30 down again by $1.70 on the day. Silver slipped to as low as $14.476 but ultimately gained $0.02 overall, closing at $14.56.
As reported previously, the Perth Mint sold a record amount of silver coins in September – more than 3.53 million ounces – according to Reuters. This is about five times higher than the mint’s August sales.
IMPORTANT NEWS
Gold struggles near two-week low after strong U.S. data – Reuters
Platinum’s Premium to Palladium at 13-Year Low on Diesel Concern – Bloomberg
Palladium hits near 3-month high on strong auto sales; gold flat – Reuters
Gold futures settle with a loss after a volatile day – MarketWatch
Commodities Bust: Metals Are Getting Massacred – Bloomberg
IMPORTANT ANALYSIS
“Silver coin demand is absolutely through the roof “- Perth Mint – Reuters
Does 1 October mark the beginning of the end for the debt bubble? – MoneyWeek
Fears of a Chinese ‘hard landing’ trigger mass exodus from emerging markets – The Telegraph
Panic Is Spreading, Part 1: Surge in Junk Bond Defaults Imminent – DollarCollapse.com
Charging into Yukon’s new gold rush – The Vancouver Sun
Read more News & Commentary on Goldcore.com
Download 7 Key Allocated Storage Must Haves
»
- GoldCore's blog
- 16786 reads
- Printer-friendly version
- Send to friend
- advertisements -
And on top of that it is against our law for them not to have available supply. So its actually illegal for them not to be keeping up. From what I understand. So they should tell us what is the problem? Our forefathers were sharper than everyone thinks, they knew this day would come.
"So its actually illegal for them not to be" . . . .
respectfully, i think that might be where the problem stems. legality hasn't meant as much since, oh, about 9-11-01.
p.s. was formerly honored in the breach, but now no honor among thieves (and murderers, but whose counting?)
I agree but I think it goes as far back as here. https://www.youtube.com/watch?v=Rkgx1C_S6ls&list=LLDTyFInPPEz35zzbtfVBEB... "We've got to cut it out"
if i read one more
"Silver coin demand is absolutely through the roof”as my PM stocks hit ten year lows i'm going to take a silver hammer to his head www.youtube.com/watch?v=qpCV2wgoxC8
What the hell is wrong with you people!? Why the hell are you investing if you don't know the difference between having a chunk of metal in one hand and paper promises in the other?
Everyones gonna have their stuff in a knot until the phys price hits the skyrocket - then a lot of them will be moping around because they sold or never had positions. I used to think that the USD was awesome - but when con-gress printed up 750b bank bailout followed by printing another 843b stimulus, well that pretty much woke me up. The people who talk smack on the PMs still see the USD the way I used to see it even though they had the same (pretty big) wake up call. That is why I agree with you "What the hell is wrong with you people!?"
Is that you Maxwell???
;-D
The Fab4 must have had some good drugs when they penned that gem.
There are no shortages.. Just a bit of manufacturing bottlenecks for mint products.
Even then you can probably go to your local coin store and get whatever product you want on the spot.
Just some lies from a metals seller trying to drum up business and create urgency among anyone thinking of buying.
You're full of it. No one will sell at SPOT price. I can tell right away that you don't own any physical metal from your comments. Go back to your apple stock.
gimme-gimme-gimme a clue.
"There are no shortages.. Just a bit of manufacturing bottlenecks"
Potato potahto.
"Even then you can probably go to your local coin store and get whatever product you want on the spot."
IOW, you have no idea. I cant get my first 4-5 choices without a wait at my prefered buy location.
"Just some lies from a metals seller trying to drum up business "
Yea, d they need to drum up a bunch of numbers that are already...way up despite what you call a non-existent shortage. It's best to just STFU when you have an ax to grind against something you're ignorant of lest you come out looking like a bufoon. Too late.
We'll know when we've turned the corner when this stuff isn't bought and thrown into a hole or vault somewhere but is instead allowed to "come out" and be used to actually transact business with.
Still waiting.
If you are waiting for gold or silver to return to 'medium of exchange' functions....you will have a very long wait. It could be even longer than Bernacke expects to wait for a rise in interest rates....forever....
Picture all the galaxies drifting apart, now all cold sterile masses, drifting into a place when/where time and space have no meaning because there is no life form able to perceive those things. Picture our own sun, having spent all its mass doing whatever old suns do finally taking earth out of the 'picture'. Imagine all the space aliens are long gone as even their fantastic technologies could not save them.
At this point I see gold and silver being used in the manner you perceive....if elements even exist then....or maybe it will be a quantum universe in which they both do and do not exist....who really knows.
..If you are waiting for gold or silver to return to 'medium of exchange' functions....you will have a very long wait...
You may very well be correct, but until it is used as such, we will continue to be at the mercy, (and probably even after due to their unwillingness to discuss / disclose their own Au holdings, amounts and locations) of these warmongering / instigating folks sacrificing the earthly lives of persons they have no concern of which value they have as nill in comparison to the view of the Creator.
"Every knee shall bow…"
Jmo and understanding.
gold is in backwardation. unlike many commodities, gold should never be in backwardation but it is and has been, off and on, for years. the draining of western reserves is a process that will flow and then stop. the market will look one way while it flows. it will look another way when it stops.
If you are waiting for gold or silver to return to 'medium of exchange' functions....you will have a very long wait.
Not at all, just waiting for your fiat to revert to it's real value. I don't really have much of a wait at all. Bet I get further on what I expect (and it being a lawful form of money in my state) than you do on whatever space bullshit you're filling your diaper with.
To your point, the reversion is already 97%.
Lighten up.
You do not have to delude yourself to fear that sort of bullshit. Things will only be that bad in your head.
Things will only be that bad in your head...
I can only hope so. May I have some "proof" to help me "beleive" your view? I will accept the fact I may be wrong in my determination of what the future may hold, but something beyond mere assertion would certainly be of more solace than "Charming Alarmist"'s command.
(In all fairness, and in the context of Tyler's rules, a "Boxed Merlot"s opinion / view is certainly not to be taken with more earnestness than a "Charming Anarchist"'s.)
http://www.goodreads.com/quotes/330601-welcome-to-fight-club-the-first-r...
jmo.