U.S. Mint Temporarily Sold Out of Silver Eagles on “Tremendous Demand”

WAR IS PEACE 
FREEDOM IS SLAVERY 
IGNORANCE IS STRENGTH
TREMENDOUS DEMAND = PRICE COLLAPSE 

Should be good for another $2 down.

From CNBC:

The U.S. Mint said on Wednesday it has temporarily sold out of its American Eagle silver bullion coins following “tremendous” demand in the past several weeks.

In a statement sent to its biggest U.S. coin wholesalers, the U.S. Mint says it will continue to produce 2014-dated coins.

The Mint will advise when additional inventory will become available for sale without providing further details.

The announcement has not been made available to the public, but a U.S. Mint spokesman confirmed that it has sent the statement to its authorized participants.

Sharp breaks in gold and silver prices to their lowest in more than four years have unleashed a surge in demand for investment coins and small bars by retail investors around the world, with buyers in Germany queueing out the door and some U.S. investors returning to the market for the first time in years.

The RCM has started rationing its Silver Maple Leaf coin sales to its global distributors in response to high demand in September when gold prices fell to a near 2014 low, it said.

No further comment necessary.

In Liberty,
Michael Krieger

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12 thoughts on “U.S. Mint Temporarily Sold Out of Silver Eagles on “Tremendous Demand””

  1. LMAO! You’re comments are epic…yeah in the bizarro world we live in, price is down under tremendous demand, but like a parasite that feeds too much and kills its host, the silver suppression Cartel has destroyed itself in a negative feedback loop. To paraphrase Agent Smith, What is that sound? That is the sound of inevitability, it is the sound of your death. Bye bye silver suppressors…

    Reply
  2. Well, demand for coins, especially a very specific coin does not necessarily translate into the price action of the futures or spot price of the underlying commodity. While I will never support the global regime of fiat currencies, there are far to many uses of silver than just American Eagle coins. The US dollar is rallying, possible to continue a new long-term trend breaking out from a bigger long-term down-trend, and as such, it is going to inversely affect all dollar denominated currencies. This has been happening across all commodities. If I read that “jewelry, solar photovoltaic panels, electronics demand for silver sold out” that would be a different story. Price will always find its levels. Wise investors that have been balancing their portfolios with coins/bars for the past decade should continue to balance their worth accordingly and be pleased they are getting bargains. As a trader, I wouldn’t be bullish on silver, or gold, until the trend changes. Equilibrium could very well be back in the single digits over the next year or two if USD does make the move it could. My $.02.

    Reply
    • Sure, those are fair points. If all silver coins were sold-out all over the world, then I would find it much more significant. We have seen this before.

      I really just thought it was a good opportunity to poke fun at the markets, which of course are a total joke.

    • “the markets, which of course are a total joke.” – never ever will you hear me on the opposite side of this statement. If I do, I wholly support you blocking me or worse, contacting my family and having my committed.

      There are plenty of bloggers/Twitterati that are in utter denial that all is well and there is nothing wrong, as they furiously buy stocks in the biggest bull market in history (well, in my life-time, which included the 90’s run into the Tech Bubble) – this is far worse, sillier and is likely to end in more carnage and I hope I’m wrong.

  3. Surprised Mike, nothing on the Swiss Gold Initiative at LibertyBlitzkrieg……especially since this is the Swiss people pushing for freedom and liberty and possibly the most single significant vote of any kind since the end of Bretton Woods.

    Reply
    • Honestly, just so sick of all gold related stories that get gold bugs excited. At this point, I’d rather let things happen and then comment. Enough sites out there pumping out stories 24/7 on why gold will be on the moon tomorrow for me to want to add to it.

  4. I hear you Michael. But it isn’t about gold. It is about liberty. So long as central banks can print, monetize debt, and let governments grow to epic proportions in relation to their economies there will never be liberty.

    Reply
    • I haven’t seen much coverage actually. But I’m not looking much either because I’m as tired of all the dogma from the gold camp as you are. It’s just interesting watching the central banking cartel’s fight all the way down to their last gasp.

      I wonder when Japan finally blows up if the sheep finally awaken that central banks aren’t only not Omnipotent but are the source of grief?

    • It’s been pretty consistent on my feed. I just do not want to make a big deal about something that fails. Should it succeed, I will certainly consider writing on it.

      Thanks for your insight as always.

    • I hope it doesn’t fail and you write something about it. I’d love to see it.

      I know gold standards won’t work over time as they’ll just change the rules anyway. And i know gold bugs want to see this to happen because of their position on gold.

      The bigger issue as I see it, is that a country that used to have decent discipline have fallen as apeshit crazy as everyone else. And if the Swiss don’t vote yes on something that will limit the power of central banking and Big Government, who will?

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