As Silver Prices Fall, U.S. Mint's Silver Bullion Coins Sell Out

1for1

1for1

Well-Known Member
Investors still like silverso much so that the U.S. Mint sold out of its American Eagle Silver Bullion Coins.

The Mint announced the temporary sellout on Tuesday. It said that the U.S. Mint facility at West Point, N.Y., continues to produce the coins and resumption of sales is expected in about two weeks.

The shortages comes at a time when silver futures prices SIU5, +1.49% are falling.On Tuesday, they sank 5% to $14.969 an ounce, the lowest settlement for a most-active contract since 2009. They recovered a bit on Wednesday, though year to date prices have lost more than 3%.

1646_as-silver-prices-fall-us-mints-silver-bullion-coins-sell-out-silver-price-index.jpg


"Silver demand has really come back in the last two weeks, on the break below $16 per ounce," Adrian Ash, head of research at BullionVault, told MarketWatch.

http://galeforcesales.blogspot.com.au/2015/07/as-silver-prices-fall-us-mints-silver.html
 
1for1 said:
Investors still like silverso much so that the U.S. Mint sold out of its American Eagle Silver Bullion Coins.

The Mint announced the temporary sellout on Tuesday. It said that the U.S. Mint facility at West Point, N.Y., continues to produce the coins and resumption of sales is expected in about two weeks.

The shortages comes at a time when silver futures prices SIU5, +1.49% are falling.On Tuesday, they sank 5% to $14.969 an ounce, the lowest settlement for a most-active contract since 2009. They recovered a bit on Wednesday, though year to date prices have lost more than 3%.

http://forums.silverstackers.com/up...bullion-coins-sell-out-silver-price-index.jpg

"Silver demand has really come back in the last two weeks, on the break below $16 per ounce," Adrian Ash, head of research at BullionVault, told MarketWatch.

http://galeforcesales.blogspot.com.au/2015/07/as-silver-prices-fall-us-mints-silver.html
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I'm not buying what they are selling. (Well, not at this exact moment...lol...I can wait)
$13 USD silver here we come!!
 
I think you should be happy with US$ silver price.. its a serious bargain! 2007 prices!
 
1for1 said:
I think you should be happy with US$ silver price.. its a serious bargain! 2007 prices!
Click to expand...

I'm fairly happy with the spot price....sure....
What I was referring to was the ASE's.
Currently the premiums are stupid high, and I will not be partaking in any of that nonsense.
 
-j-p-shmorgan said:
1for1 said:
I think you should be happy with US$ silver price.. its a serious bargain! 2007 prices!
Click to expand...

I'm fairly happy with the spot price....sure....
What I was referring to was the ASE's.
Currently the premiums are stupid high, and I will not be partaking in any of that nonsense.
Click to expand...

Arhg ok.. makes sense, i dont mind the ASE - was the first bullion coin i got back in 2007 and since buying all the others i now place it close to the top.. still prefer antique silver or 10oz / kilo bars though and antique gold / fractional gold -- silver bullion is best bought in bulk without those pesky capsules.. way to cheap to be precious about standard issue 999 so Perth Mint is coins are dead to me.
 
-j-p-shmorgan said:
1for1 said:
I think you should be happy with US$ silver price.. its a serious bargain! 2007 prices!
Click to expand...

I'm fairly happy with the spot price....sure....
What I was referring to was the ASE's.
Currently the premiums are stupid high, and I will not be partaking in any of that nonsense.
Click to expand...


You'll probably have to get used to higher premiums. As the price of silver falls, the cost of designing, striking and distributing a coin becomes a greater percentage of the selling price. It's easy to forget that the price of silver is heavily distorted by the 'existence' of paper metal, but a coin is a physical product with all the costs that entails.
 
-j-p-shmorgan said:
1for1 said:
I think you should be happy with US$ silver price.. its a serious bargain! 2007 prices!
Click to expand...

I'm fairly happy with the spot price....sure....
What I was referring to was the ASE's.
Currently the premiums are stupid high, and I will not be partaking in any of that nonsense.
Click to expand...

What is the actual premium for ASE in percent ?

Premium for available coins is the real market depending on supply and demand.
POS is the price of cornered market of primalary US-banksters.

In 2008 when we hit the low in POS no bullion conis were available to buy.
Waiting 6 weeks was normal to get delivery for ASE, libertad and maples.
Premium was 45-50%
Because of this reason i seen a clearly ground for real silver price whatever POS on comex is
 
AgAuNEWS said:
-j-p-shmorgan said:
1for1 said:
I think you should be happy with US$ silver price.. its a serious bargain! 2007 prices!
Click to expand...

I'm fairly happy with the spot price....sure....
What I was referring to was the ASE's.
Currently the premiums are stupid high, and I will not be partaking in any of that nonsense.
Click to expand...


You'll probably have to get used to higher premiums. As the price of silver falls, the cost of designing, striking and distributing a coin becomes a greater percentage of the selling price. It's easy to forget that the price of silver is heavily distorted by the 'existence' of paper metal, but a coin is a physical product with all the costs that entails.
Click to expand...
Good point on premiums, but since ASEs never change, there'd be little design overhead so I guess it is just manufacturing, packaging and distribution costs that add to the premium.
 
I love ASE's and their liquidity.
Premiums do fluctuate, but there is a better entry point - Regardless of which direction silver goes.
Every single time the "Mint runs out" - silver has crashed. lmao
 
"We are sold out of ASE's" is just another way of saying "We have tens of millions more ASE's but we just want to put the squeeze on so we can raise premiums a bit"



.
 
mmissinglink said:
"We are sold out of ASE's" is just another way of saying "We have tens of millions more ASE's but we just want to put the squeeze on so we can raise premiums a bit"


.
Click to expand...

A regular bit of pumping to drive sales.
 
SilverPete said:
mmissinglink said:
"We are sold out of ASE's" is just another way of saying "We have tens of millions more ASE's but we just want to put the squeeze on so we can raise premiums a bit"


.
Click to expand...

A regular bit of pumping to drive sales.
Click to expand...


I don't think that's the way it is. The Mint gets $2 over spot per coin from the few authorized national distributors who then sell to dealers/wholesalers. I might be wrong, but I don't think the premium the Mint charges the authorized dealers changes much, if at all, as opposed to premiums we buyers pay our dealers which do seem to change from time to time.

There is a US law that requires the Mint to produce bullion ASEs in sufficient numbers to meet the public demand. The Mint has to get "blanks" from private companies to make the ASE's and sometimes that causes temporary supply problems. Especially when we have large price drops and folks on the sideline decide to jump in and start buying. The "profit" the Mint makes is miniscule compared to the billions the US spends daily just to cover the interest on the debt, welfare payments, free money to other countries who don't like us, etc. So the gov is not getting rich off of selling ASEs. The article I posted below says the law's intent regarding ASE premiums charged by the Mint to authorized dealers is for the Mint to break even on bullion ASE's so to speak.

It's funny how some people say the gov doesn't want us to own silver/gold (real money as it is called), but instead wants us to only have fiat (debt/paper promises), then you have some folks saying the gov is "teasing" us so we will want to buy more silver/gold (real money) to have in our possession. Two mutually exclusive positions. I don't know which, if either, is correct, but I know both can't be.

Since both silver/gold compete with the US dollar in a sense, my guess is the gov does not really want citizens holding silver or gold (at least in large amounts), if in fact they have a preference. That is why some say they keep the PM prices low via paper markets to scare off would-be metals investors and to keep the dollar looking stronger.

http://news.coinupdate.com/us-mint-raises-premiums-for-american-silver-eagle-0479/


Just my opinion.

Jim
 
Not sure why but ase,s are my favourite bullion 1 oz coin? Not interested in stacking them though. I have one of each year made and think they are well worth the premium but if buying just to stack silver you may as well just stack the cheapest silver you can get.

Not sure why people buy tubes of them when they may as well get bars? Individual ase,s sell quite easily and with good premiums but a tube is just part of a monster box to a stacker and so individual coins become irrelevant to them.
 
fishtaco said:
Not sure why but ase,s are my favourite bullion 1 oz coin? Not interested in stacking them though. I have one of each year made and think they are well worth the premium but if buying just to stack silver you may as well just stack the cheapest silver you can get.

Not sure why people buy tubes of them when they may as well get bars? Individual ase,s sell quite easily and with good premiums ut a tube is just part of a monster box to a stacker and so individual coins become irrelevant to them.
Click to expand...

You answered your own question. :rolleyes:
 
I'm still in the shadows buying up seconds when I spot them at bargain prices. Trouble is... my bargain prices of 12 months ago are going to become "the going rate" on some of my stock shortly which is frustrating!

Either way... you can't win if you don't play... and if the economy falls over, sorry, when the economy falls over again we will be thankful we bet!
 
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