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US Mint Suspends Production of More Gold and Silver Coins

Hope you folks can see what is going on... AMMO is going bye bye, the DOD will no longer sell expent brass for reloading. You now see that the Mint is no longer going to be selling certain coins limiting supply. There is talk that you will not be able to grow gardens because they think you are growing dope! everything you and your family need to be self reliant is being taken away. Your Job, your homes.. slowly but surley we are moving to a population that has to depend on the government to live.. PREPARE NOW!

Coins
March 14, 2009 | Filed Under US Mint

The United States Mint has officially announced the suspension of another slate of gold and silver products. The affected products are 2009 dated American Gold and Silver Eagle coins produced for collectors. These coins are considered collectible versions of the bullion coins.

Although these are collectible coins, they represent a sizable amount of precious metals sales and represent a method of gold and silver investment for many individuals. Last year, the US Mint sold 1,157,911 ounces of silver in the form of Silver Eagle coins minted for collectors. They also sold 155,740 ounces of gold in the form of Gold Eagle and Gold Buffalo coins minted for collectors.

The following message was posted on the US Mint's website in the

space where the collectible Gold Eagle coins typically appear. The proof coins has been offered uninterrupted since 1986. The uncirculated version has been offered since 2006.

Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins. Currently, all available 22-karat gold blanks are being allocated to the American Eagle Gold Bullion Coin Program, as the United States Mint is required by Public Law 99-185 to produce these coins “in quantities sufficient to meet public demand . . . .”

The United States Mint will resume the American Eagle Gold Proof and Uncirculated Coin Programs once sufficient inventories of gold bullion blanks can be acquired to meet market demand for all three American Eagle Gold Coin products. Additionally, as a result of the recent numismatic product portfolio analysis, fractional sizes of American Eagle Gold Uncirculated Coins will no longer be produced.

Coins
March 14, 2009 | Filed Under US Mint

The United States Mint has officially announced the suspension of another slate of gold and silver products. The affected products are 2009 dated American Gold and Silver Eagle coins produced for collectors. These coins are considered collectible versions of the bullion coins.

Although these are collectible coins, they represent a sizable amount of precious metals sales and represent a method of gold and silver investment for many individuals. Last year, the US Mint sold 1,157,911 ounces of silver in the form of Silver Eagle coins minted for collectors. They also sold 155,740 ounces of gold in the form of Gold Eagle and Gold Buffalo coins minted for collectors.

The following message was posted on the US Mint's website in the space where the collectible Gold Eagle coins typically appear. The proof coins has been offered uninterrupted since 1986. The uncirculated version has been offered since 2006.

Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins. Currently, all available 22-karat gold blanks are being allocated to the American Eagle Gold Bullion Coin Program, as the United States Mint is required by Public Law 99-185 to produce these coins “in quantities sufficient to meet public demand . . . .”

The United States Mint will resume the American Eagle Gold Proof and Uncirculated Coin Programs once sufficient inventories of gold bullion blanks can be acquired to meet market demand for all three American Eagle Gold Coin products. Additionally, as a result of the recent numismatic product portfolio analysis, fractional sizes of American Eagle Gold Uncirculated Coins will no longer be produced.

read the rest of the story here:
http://goldandsilverblog.com/us-mint-suspends-production-of-...

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So...

If someone had a large amount of money to invest in metals right now should them get coins(if they can find them) or bars ???

"Its easier to fool people than to convince them that they have been fooled."
Mark Twain

bars is the best bang for your buck.

Stash a year supply of coin and then go strictly bars.

WAHOR!!
http://www.dailypaul.com/node/48994

Rhino~

Thanks !!

"Its easier to fool people than to convince them that they have been fooled."
Mark Twain

Buy on a dip

Do you foresee one happening or its impossible to tell?

"Its easier to fool people than to convince them that they have been fooled."
Mark Twain

We are in an up trend ...

So watch it daily.

Today would be a good day to add a little.

Buy the ETFs or any other gold play while you look for a good commodity broker in your area.

Find out what his/her minimum is on delivery and ...

everytime you reach that amount ...

cash in on your paper investment and pay the man/woman.

Note: only cash in on a spike, and only buy on the dips.

Note 2: 35 rolls of silver dollars would last most small families for a year in an emergency.

WAHOR!!
http://www.dailypaul.com/node/48994

Makes Sense

The mint is just trying to provide the public what it wants. Proof coins take longer to make because they are higher quality. They are just temporarily freeing up resources in order to produce more bullion coins. This could be an indicator that the trend in higher gold prices is getting tired as large numbers of small buyers scramble aboard just as the trend is about to change. Sellers can charge outrageous premiums for coins even though gold prices remain about the same because few people can afford 100 oz. bars 1 oz or smaller coins is about all they can manage.
Those with patience should be rewarded with lower gold prices as well as cheaper premiums for coins in a few years as deflation runs its course. Ammo too.

i don't buy the monoply theory

i dont buy the monopoly price-fixing story. kruggerands, maples, liberties, private mint, philharmonics, buffalos, bars, and many many others have plenty reason to sell. and all of them have plenty of street credibility.

there is no reason why this competition is not lowering the price to near spot like it was 10 years ago in less something changed dramatically in the last decade which caused a "decoupling" of the spot prices.

the lurking factor is supply. and for some reason, either because the mines can't keep up with demand, or because the mints are simply refusing to keep up with demand by not buying more gold. perhaps, that would say the mints are anticipating a gold crash.

but a simple bullion vs commodity comparison doesn't justify the odd markups, nor does it justify the us mint refusing to sell while (for example) the canadian maple would gladly fill that order void (if they could.)

No they are suspending collectors proof and unc coins to focus

on bullion - at least that is how I understand it.

from the article:

Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”

The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.

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"The essence of freedom is the proper limitation of government". ~ Founding Fathers

public law

If they are required by "Public Law 99-61 to produce these coins 'in quantities sufficient to meet public demand' " then the only explanation is that the sources of silver are not meeting demand. this should raise prices.

SteveMT's picture

SIERRA: There is no mention about limiting silver coins.

Is that correct. Silver Eagles will not be limited?

Wonderful news...great opportunity for private mints now !!!

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Discover Costa Rica

so, if supply isn't meeting demand

can somebody tell me why the spot prices aren't going up?

I'd suggest listening to Bob

I'd suggest listening to Bob Chapman who comments on this regularly. In short the price is manipulated by gov't. What has gone up though are the premium on coins. (I'm talking bullion, not numismatic coins.)

hmm, in that case

in that case, how do i get gold without paying the premium? somebody seems to be doing it.

You don't, at least no way I

You don't, at least no way I know of. But really the premium isn't a big deal, it's profit to the dealer. So what. If you want gold it's worth it.

Suggestion: if it's bullion you're looking for simply shop for coins with the lowest premium. A good deal right now is APMEX selling 1oz. Austrian Philharmonics for $39.95 over spot

and?

why doesn't bullion drive up the price, while industrial use-demand does?

And? There is no and.

Spot prices on commodities are driven by supply and demand.

And the price of coin is driven by supply and demand.

Coin prices have decoupled from commodity prices because there has been a spike in the demand for coin while demand for the commodity is rather stable.

The commodity demand has stablized due to the increase demand for coin and value with a decrease in demand for industrial use.

WAHOR!!
http://www.dailypaul.com/node/48994

gold identity crisis?

you say that gold as a commodity "is rather stable." but gold as a coin has decoupled from that??

do you think gold cares what form it is being produced in?

is there a guy at the top of the mountain who decides what gold is worth what shape and form gold takes?

Absolutely not.

The premium on coins is not due to the commodity ...

you are paying for the coin.

WAHOR!!
http://www.dailypaul.com/node/48994

so what is to keep me

so what is to keep me from buying gold as a commodity and melting it into rounds to sell at a premium? thus, balancing the price.

Absolutely nothing ...

but remember ...

Your coin will have to have credibility to sell at a premium.

Like I said ...

The coin itself has a value.

Yours would be nearly zero until you establish credibility.

AHOR!!
http://www.dailypaul.com/node/48994

It is happening all the time ...

People mint collector coins all the time and sell them at a premium.

Obama coins, Bush coins, Ron Paul coins, etc. etc.

But it is illegal to coin it and market it as money.

WAHOR!!
http://www.dailypaul.com/node/48994

but it isn't happening.

as is evident by the large price "decoupling" between the commodity and the bullion.

i understand that gold has different uses if it is in a coin form, but not different value. here's why:

suppose i was the royal canadian mint and my orders have increased drastically. wouldn't that cause me to order more gold from the mines?

and wouldn't doing so cause the mines to charge me more if they cannot meet demand?

No ...

because coins is a small part of the market.

If you increased your demand by 1000% and the rest of the market is plummeting. It would have a near zero effect on the price.

Also ...

Since it is illegal in most of the world to coin money unless you are a government, there are other motives at play than simply profits.

Also ...

The coin market is not fed by 100% new coins. There are profit takers as well.

Also ...

All those collector coins being minted right now are from PM inventories that were purchased at some prior date when PM was at a cheaper price.

Also ...

Any official mint would have several suppliers. You can get it from the source or you can get it on the market, or you can get it from scrap, etc. etc.

Also ...

there is that pesky variable that is the cost to set up a mint.

WAHOR!!
http://www.dailypaul.com/node/48994

market share irrelevant

so, with the us mint shutting down the sellage of liberties, you think australia has no incentive to sell krugerrands to americans? and canada has no incentive to sell maples to amreicans? even if that was true, then why do private mints share the same problem of not being able to meet demand?

if gold mines are not meeting the demand then the price should go up, no matter what the total market share gold rounds encompassed.

if i made golden toilets, (which you could imagine is a very low demand item), then i am still effected by the supply/demand of gold.

What if they choose to hoard their inventory?

There is an incentive to do exactly that.

If you were in the toilet business then hopefully you were smart enough to hedge against the rise in commodity prices, otherwise you will be out of business very soon.

AHOR!!
http://www.dailypaul.com/node/48994

but it is the actual supply

but it is the actual supply of gold, not the private mints incapacity to produce fast enough, that aren't meeting the demand. read: gold bullion is trying to become a bigger pie of the total marketshare.

if i had tens of thousands of golden toilets on backorder, you better be sure that i am going to need to buy more gold. and, for my sake, hopefully the mines are going to give it to me.

Here ...

"but it is the actual supply of gold, not the private mints incapacity to produce fast enough, that aren't meeting the demand."

Are you sure about that? If I had a monopoly on coin money, I would want to maximize that spread. In fact, that is the definition of a monopoly.

In fact there is some evidence that this is occurring. Retail sales for collector coins is at an all time high and they are able to meet demand. So why can't the official mints do the same? I would argue that they can, they just don't want to. There are many reasons why they do not want to, but that is for another discussion.

If I was your competitor in the toilet market and I bought futures when gold was at $300 per ounce, I would have one less competitor if you failed to do the same.

WAHOR!!
http://www.dailypaul.com/node/48994