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Sales of American Eagle coins soar

Sales of American Eagle coins soar

Jack Farchy
December 10, 2012 | 12:53AM

Demand for gold coins in the US has soared since the presidential election, as small investors fret about the lack of action to address America’s ballooning debt.

The US Mint’s sales of American Eagles, one of the most popular gold coins, leapt 131 per cent in November, hitting their highest level in more than two years. The Royal Canadian Mint also had its strongest month of sales this year.

Terry Hanlon, president of metals at Dillon Gage, one of the largest bullion dealers in the country, said sales had risen sharply “within a day or two” of the election.

“You’ve got a lot of people who are very worried about the economy. With the election they saw that nothing was going to change,” he said.

Read more: http://www.ft.com/intl/cms/s/0/05c33e94-3ee7-11e2-87bc-00144...

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American Eagle

Ammo also

Cyril's picture

Interesting speculative disagreement between dear wife & I...

Interesting speculative disagreement between dear wife & I...

"for once".

She thinks it's just an "unresolved Fiscal Cliff panicky effect".

... that it will resolve in big sell off of the same PM buyers soon thereafter the MSPM (MainStream Propaganda Media) will have served their FAKEDNews to the people living in LA-LA-LAND that "everything's gonna be OK, Reps. and Dems. have managed to compromise, gimme this, I give ya that, etc."

Dunno if she's right or wrong ... but she's the American one over here, I take it she knows her folks.

While I was more assuming that the kind of people who start worrying and put their greens in PMs do it for a longer term, politically involved or not, they know about money better than average, etc...

Thoughts, patriots ?

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Uh...she wearing blinders?

Very few long metal investors are looking at "fiscal cliff" as a major input. I would think very few long metal investors are seriously watching the MSM period. They are watching the fed once again gobble up treasuries and the inflationary inputs of the Fed keeping near zero interest rates. They are watching LIBOR making an open mockery of the financial markets and computer trading making same of Wall St. They are watching HSBC get off the hook for money laundering along with all other forms of naked fraudsters.

Meanwhile there's just not much joy when you parse down employment, credit expansion at the consumer level indicates a very plain student debt bubble (student debt now exceeds credit card debt) and that curve is holding up the consumer credit market-ha ha. Housing numbers seem suspicious and we're trying to see how we can back out foreign buyers--and that's a global flight to safe haven...

In short, I don't see metals being anything but a continued safe haven.

There is nothing strange about having a bar of soap in your right pocket, it's just what's happening.

Cyril's picture

LOL. No worries.

LOL. No worries. Dear wife is the smartest creature I've ever seen or even imagined ... in her own ways. She's a killer in reading people and events, anyway - speaking out of experience.

"In short, I don't see metals being anything but a continued safe haven."

She never questioned that, of course.

But she feels fairly less optimistic than I am as to whether the people is actually waking up to real money (even if timidly) or not. What I was interested in / speculating about.

I suppose it's still a bit too early and that remains mostly open.

I don't forget our own point of view, though sound, is likely biased more or less, too.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Look at paper-money history. Value disappears by & by.

Mean-time-to-failure is ~ 38 years. Cataclysmic failure = 100% lost value. United States Dollar as Fed Notes has lost 94% of its 1913 value. Purchasing value in the village market.

Exceptions are few are far between.

  • Pound Sterling ~ 300 years +/- a few decades...
  • Swiss Franc ~ 130 years...
  • US Federal Reserve Note (aka: US Dollar note) ~ 99 years...

From memory. Don't recall exactly. The British Pound Sterling is hearsay. Approximately 150 paper-money rackets came & went by & by.

Central Banks Committing Chomos? 05/26/2011

Fine print: Author is not practiced in the art of banking. Did not graduate from grammar school. Spotty employment record.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Cyril's picture

Thank you Mark Twain for your always erudite feedback.

Thank you Mark Twain for your always erudite feedback.

We'll give thoughts to this. Right after this next order we're busy with ;)

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

BUMP.

BUMP.

"Uh Oh." ... ?

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

The ft.com link requires FT subscription.

The ft.com link requires FT subscription.

But here's an alternate link :

http://www.cnbc.com/id/100298537

Though it likely isn't the full article(?)

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

30 more days

I was just sent an e-mail from Northwest Territorial Mint that "due to high volume" I would have to wait another 30 days to receive my order >:(

I have many

people buying silver form me at http://fortresspmg.com

I assume you are a dealer..

What state are you working from?

in

SC

I own a gold and silver buying selling company

I make more money when I buy, but I sell too.

How's you record keeping?

:)

Patriot Cell #345,168
I don't respond to emails or pm's.
http://www.youtube.com/watch?NR=1&feature=endscreen&v=qo8CmO...
Those who make peaceful revolution impossible will make violent revolution, inevitable.

You collect money when you buy.

If you sell silver coin, I hope you receive something of value.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Good Man Brian!

Blessings to you and your business in the great state of South Carolina..

Live long and prosper!