26 votes

Update:Looks like a shortage in Physical Silver is shaping up

Here is the original post and status as of April 12. I've updated to reflect activity as of April 15
You can see the record sales at the US Mint site:

http://www.usmint.gov/mint_programs/american_eagles/index.cf...

As of April 15 the mint has not yet updated its sales to reflect Friday and Monday's action

In spite of record sales and production online sites seem to have trouble keeping up with orders
Here is a quick survey of some online precious metal sites:

JM bullion: 15 business delay on silver eagles
http://www.jmbullion.com/2013-american-silver-eagle/

April 15:the delay warning is across the top of the page but what is interesting they are selling individual 2013 silver eagles for $30.36 while the spot price right now is $22.41-nearly an $8 an ounce premium

Provident:looks like most of its silver products are out of stock. I could only find a 2011 silver eagle for sale at $5+over spot price
http://www.providentmetals.com/coins/us-silver-coins.html?li...

http://www.providentmetals.com/2011-american-silver-eagle-br...

April 15: the front page features a product called Wise Fire, an eco friendly fuel source! That's right a Precious metal company selling fuel.
and the 2011 silver eagle reference on April 12 is now unavailable

Apmex: Random year silver eagles are sold out. The 2013 contains a note that they are being sold on a limited basis
http://www.apmex.com/Category/160/Silver_Eagles___Uncirculat...

April 15: now charging $29.28 for the 2013 Silver eagle and the limited basis language is now gone and a delayed till April 24 notice is included.

Golden Eagle Coin: Has a delay on silver eagles to April 19
http://www.goldeneaglecoin.com/Buy_Silver/Silver_American_Ea...
April 15:increased their delayed shipping date till May 3

Bullion direct: Surprisingly seems to have inventory and the best price!
http://www.bulliondirect.com/catalog/lp/US_Mint_American_Eagle_Silver_Coin_(1.00_oz).html

April 15: claims to have silver eagles for $25.83!

Northwest Territorial Mint: Has eagles if you buy 60 or more http://bullion.nwtmint.com/silver_americaneagle.php

April 15: still has eagles if you buy 60 or more and the price is $27.50

Gainesville coins says allow 5-7 days to ship- not sure if that means it will take 5-7 days to get your order or that they won't send out your order for 5-7 days after they receive it:
http://www.gainesvillecoins.com/products/162421/2013-1-oz-am...
April 15 delay is explicit till April 30
Selling silver eagles for $28.47 if you do a bank wire, $29.31 by credit card

Kitco
https://online.kitco.com/?utm_source=New_Store_Tab_Top_Nav&u...
Wasnt covered in the original post.
Status as of April 15:now running a big banner noting high volume and delays



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the stranger's picture

hey, more than I thought.

hey, more than I thought. I guess with titles it easy to link those. cool. thanks

The demand is not as

The demand is not as overwhelming as you might think. The stock market has been booming. More and more investors have decided that happy days are here again. So they are dumping gold and silver ETFs and putting the money into stocks. Remember there is much more silver and gold in the vaults for those ETFs than is sold in coin form.

no bob they are not. it is 50

no bob they are not. it is 50 buyers for every one seller. the reason why the stock market is going up is because the FED is inflating at a total of 85 billion per month. that money is reinflating the stock market. the money is NOT coming from people lined up at the coin store selling their coins for cash to put into the dow.

As I stated, most of the

As I stated, most of the buying and selling is not you or me buying gold or silver coins (yes, I have both). It is people buying gold and silver ETFs. And despite the claims of the more conspiratorially minded, there is real gold and silver bullion backing those ETFs. So when people dump their ETF shares a lot of gold bullion gets dumped into the market. Some hedge funds also accumulated large amounts of gold (as large bars, not coins) and I suspect a lot of them have been dumping their holdings too. These big players are putting some of their money into stocks. Remember that there hasn't been much price inflation, at least as the official government statistics show (yes, we all know those numbers are questionable, but that is what most people use). So the inflation case for gold isn't convincing to most people. OTOH, the End-of-the-World buying that took place in 2009 and 2011 is over, since most people believe that the central banks have papered over all their problems.

Yes, the stock market is going up because of all the funny money the Fed has been dumping into the market through the banking system. But it is notable that investors are buying stocks, not gold.

I just checked the price and gold has plunged still further. I have no idea how low it's going to go. I just know that a heckava buying opportunity is coming up.

Brutal

It's lost another half dollar in the last few minutes.

Update: Now lowest since Jan 2011 and falling like a rock.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

Couldn't agree more

Charts and graphs are what manipulators use to convince you to buy or sell something. They are only based is guess work, typically.

Remember Peter Schiff saying Gold would go "a lot higher" maybe to $4,000? Never happened.

Silver never reached over $50 or so.

Reality is the daily prices of a commodity and not what some investment "adviser" suggests.

Look at the stock market- 14.800 (or something). Look at the prices of AG and AU....dropping. The market is over for AG and AU- time to sell (maybe).

Don't expect the stock market to crash anytime soon. It may drop as it did back in 2008 and 2009 and 2000. Yet, if you had invested in an index fund you'd be way up in value now with none of the hassles of holding and selling AG or AU and none of the philosophical arguments to deal with.

Silver is up 500%

in the last 10 years, still the best investment for long term.

Surviving the killing fields of Minnesota

Todays brainwashing: GMO's are safe

Mike maloney's Goldsilver.com

Has a May 3 estimated ship date

http://goldsilver.com/buy-online/american-silver-eagle-1oz/

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Bought a stack of Silver Eagles..

a couple of days ago at American Gold Exchange. Broker bought a large shipment that'll be delivered in a couple of weeks.

www.amergold.com/

"Give a man a gun, and he could rob a bank. Give a man a bank, and he could rob the world."

In the event of total

In the event of total economic collapse, would people be more likely to accept say, a US Mint coin over one made by some unknown mint. This company called Amagi sells bullion with anything from a pot leaf on it to silver bullets. I understand that in theory, all that matters is the purity and weight. But are these "novelty" coins still just as legitimate as the US or Canadian Mint, etc???

"I will not submit to authority of man. I'm alive, I'm awake, this is more than I can take." -Jordan Page

Personally

Personally, I don't think they are. See my post below. Always ask what you will get for them by selling them immediately back and see what they say. If they don't even list the buy back price, then that's a red flag. in my opinion. Then check eBay "completed" section and see if any sold and what the spot price was that day and compare. You probably won't find to much demand for off brand coins on eBay, which outside of a coin shop or pawn shop, might be your only place to sell down the road.

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!

Some novelty coins will have premium

Like the ron paul coins. But that should not be confused with the pure price of silver.
If there is a collectible or numismatic premium you may not be able to sell them in any great quantities.
The most liquid market is probably the us silver eagle

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Which Coins to Buy?

Does it really matter who minted the coins? Is it better to go with the US Mint? What about the coins that say AOCS approved? I want to buy some silver, but have no idea which coins are best to go with!

"I will not submit to authority of man. I'm alive, I'm awake, this is more than I can take." -Jordan Page

The premiums on silver

The premiums on silver have shot up of late and the best "coin" buy are the Canadian Maple Leafs which are priced less than the American Eagles and 90% silver per ounce at present (see my post below). The coins you want are the ones you can sell back at some point and get a fair price. So always ask the dealer, "if I sold the coins back to you today at the same spot price, what will you pay me for them?"

You will find that some coins might have a lower value, but the dealer won't list what they buy the coins back for. There are no guarantees anyone will buy back coins that are off brand, but you can have some faith that minted American and Silver coins will have a buyer.

There wasn't any silver confiscation, so I don't see it as a potential issue.

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!

The state legal tender laws i think only

Apply to us minted coins, at least that is what i think the utah law is.
But you also pay a premium far over spot formus coins but generally it seems the resale value is also higher so its probably a wash

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The Arizona legislature just passed a precious metals legal

Tender law. If the governor signs it arizona will join utah.

Http://thenewamerican.com/economy/economics/item/15042-arizo...
Dont forget texas and its plan to build a precious metals depository
http://www.dailypaul.com/279064/texas-may-start-to-horde-gol...

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Always better to go US.

I don't buy gold or silver unless it is stamped with US dollars. In a confiscation scenario, these might be spared while Maple Leafs and bars are taken. Best deal on silver is usually 90% US junk.

That wouldn't have saved your

That wouldn't have saved your hide when Roosevelt confiscated gold. Only numismatic coins were spared. But there's no reason for history to repeat itself. If the government decides to confiscate gold it will probably confiscate it in all its forms.

The main advantage of "junk" silver is

A silver dime andsilver quarter look just like the current dimes and quarers excpet the quarter is worth over five bucks and the dime $2.50
They would be the most recognizable in any barter situation but the one ounce silver eagle could be valued easily by the price per ounce of silver

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coinflation site lists 90% silver dimes and quarters

actual value. http://www.coinflation.com/silver_coin_values.html

Presently $2.00 for the Roosevelt dime.

Used to sell the 90% junk bags at spot or just under plus 1% last summer. Not any longer. Still like them as the barter of choice should things go awry. Premiums have shot up a bit too much to make them my favorite right now, but hey...they only made so many of them...and no one sells!

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!

metalhed19's picture

Just my .02, but 99.9% pure

Just my .02, but 99.9% pure is exactly that, buy from wherever, other people might have more input than i...

*Wisconsin Constitution* Article I, Section 25 "The people have the right to keep and bear arms for security,defense,hunting,recreation or any other law-abiding purpose"

One of my silver suppliers

has told me their next shipment of Silver Eagles from the Mint comes Monday. The Canadian Maple Leaf silver orders are being shipped out first week of May for orders of 500 or more ounces ($2.18 over spot with commission and free shipping). They have no silver bags.

My other supplier has Eagles, Maple Leafs, and a limit of two silver bags.

I did write an article on this underlying strength in the silver market last month.

Silver Eagle And Junk Bag Shortages Show Underlying Strength Of Silver Market Demand

http://buygoldandsilversafely.com/gold/silver-eagle-and-junk...

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!

Sound Familiar? Hunt Brother alleges silver market manipulation

In this newspaper article courtsey of the silver doctors
http://postimg.org/image/kovylp975/full/

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DakotaKid's picture

Awesome link.

That information should be in it's own post, so people don't miss it.

Max Keiser of buy silver crash JP Morgan fame

Said that bitcoins were worth over a billion and that they would overtake silver that has a total investable value of $30 billion which really is next to nothing

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Maybe the psycho bankers are

Maybe the psycho bankers are driving down the price and buying it all up so they can actually deliver.

Please come join my forum if you're not a trendy and agree with my points of view.

Gata has alleged all types of manipulation

The regulators have never found any one guilty of it

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if the Government is doing

if the Government is doing the manipulating, then why would Government regulators find any wrong doing? Do some research. If you can not prove to your self that there is manipulation going on then you are not researching. It is all right there. It is the Concentration of one large banks position. that is all you need to prove manipulation.