US Mint records $4.4m loss from ASE sales

goldpelican

goldpelican

Well-Known Member
Silver Stacker
US Mint Bullion Revenue Falls 29%, American Silver Eagle Generates Loss of $4.4 Million

Following four consecutive years of record breaking results, United States Mint bullion program revenue and net income declined for the fiscal year ended September 30, 2012. Bullion coin revenue was $2.46 billion compared to $3.47 billion in the prior year, representing a decline of 29.11%. Net income for the segment was $28.4 million compared to $65.8 million in the prior year representing a decline of 56.8%. Most surprisingly, the US Mint's most popular bullion coin offering by unit volume generated a loss for the fiscal year.
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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 said:
US Mint Bullion Revenue Falls 29%, American Silver Eagle Generates Loss of $4.4 Million

Following four consecutive years of record breaking results, United States Mint bullion program revenue and net income declined for the fiscal year ended September 30, 2012. Bullion coin revenue was $2.46 billion compared to $3.47 billion in the prior year, representing a decline of 29.11%. Net income for the segment was $28.4 million compared to $65.8 million in the prior year representing a decline of 56.8%. Most surprisingly, the US Mint's most popular bullion coin offering by unit volume generated a loss for the fiscal year.
Click to expand...

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.
Click to expand...

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.
;)
 
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 said:
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.
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4.4 mil might not even cover expenses for a one night politician banquet!
 
^ 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 said:
^ 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.
Click to expand...
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...
 
Great!, if they decided to call it the day, then how about our addiction :( what are we going to do without ASE?
 
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
 
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