US Mint records $4.4m loss from ASE sales

Discussion in 'Silver Coins' started by goldpelican, Dec 30, 2012.

  1. goldpelican

    goldpelican Administrator Staff Member

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    http://news.coinupdate.com/us-mint-bullion-program-revenue-falls-silver-eagles-generate-loss-1781/

    Mostly due to the re-commissioning of the San Francisco Mint's production capacity - but not particularly good when the US fed govt has the razor gang out. Pretty sure that the ongoing availability of ASEs is protected by legislation though, loss making or not.

    Would be on the lookout for higher premiums in the future though.
     
    goldpelican, Dec 30, 2012
    #1
  2. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    That's what I read into it ;)
     
    Clawhammer, Dec 30, 2012
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  3. Argentum

    Argentum Well-Known Member

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    or a reason to stop minting them eventually altogether; legislation can be changed quickly
     
    Argentum, Dec 31, 2012
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  4. JulieW

    JulieW Well-Known Member Silver Stacker

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    When they said it was impossible for any government enterprise to make money I didn't believe it.
    Now you tell me they can't even make money selling precious metals, in their monopoly situation, protected by their law.
    Perhaps if they legislate to drop the purity they can make a profit again.
    ;)
     
    JulieW, Dec 31, 2012
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  5. gcsun

    gcsun New Member Silver Stacker

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    Not sure they would be too concerned...In the scheme of things 4.4mil is a minuscule number to add to their trillion or so debt.
     
    gcsun, Dec 31, 2012
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  6. silverstar1

    silverstar1 New Member

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    4.4 mil might not even cover expenses for a one night politician banquet!
     
    silverstar1, Dec 31, 2012
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  7. Matthew 26:14

    Matthew 26:14 New Member

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    ^ The massive US debt has come about because of a transfer of private debt (Wall St banks) to public debt (US taxpayers). This transfer happened because of the "too big to fail" view stemming from 2008 when the US nearly imploded into a financial black hole.
     
    Matthew 26:14, Dec 31, 2012
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  8. silverstar1

    silverstar1 New Member

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    Yep strange stuff going on ....
    Anyway I cant see a 4 mil so called loss on the ASEs having any real impact on silver or US mint silver products , maybe on the hype premiums will go up but the loss is insignificant , how much did the us postal service lose last year ? welcome to the new US gov bureaucracy , and wait for what is coming...
     
    silverstar1, Dec 31, 2012
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  9. alor

    alor Well-Known Member Silver Stacker

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    Great!, if they decided to call it the day, then how about our addiction :( what are we going to do without ASE?
     
    alor, Dec 31, 2012
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  10. Photonaware

    Photonaware Active Member

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    I always knew they were too cheap in the USA compared to the rest of the world.
     
    Photonaware, Dec 31, 2012
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  11. BullON

    BullON New Member

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    BullON, Jan 2, 2013
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  12. picturefun

    picturefun Member

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    The U.S. mint is way TOO conservative in the design of their silver coins. Most U.S. coin collectors would rather pay MORE for pretty silver coins on other interesting subjects made by Perth Mint, or other foreign Mint than throwing more money on the same old crap design of ASE :D

    Plus, the U.S. economy is really struggling. Some Americans have to give up on collecting
     
    picturefun, Jan 3, 2013
    #12

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