US Mint Out of Silver Coins!

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http://www.zerohedge.com/news/2013-01-17/us-mint-out-silver-coins-suspends-sales

As we noted earlier this month, the demand for both gold and silver 'physical' coins has been record-breaking as 2013 began. So much so, that now, the US Mint has run out of silver eagles and has suspended sales

Authorized Purchasers,

The United States Mint has temporarily sold out of 2013 American Eagle Silver Bullion coins. As a result, sales are suspended until we can build up an inventory of these coins. Sales will resume on or about the week of January 28, 2013, via the allocation process.

Please feel free to call us if you have any questions.

Wow, that didn't take long!
 

Jetstream

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So the US mint is out of silver coins, but SLV was able to add about 18 million ounces in their inventory overnight. All this in the same week???

Something doesn't sound right.
 

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something-smells-fishy-and-it-certainly-isnt-fish.jpg
 

Jetstream

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One thing that isn't clear and it could make a big difference...

Did the US mint just run out of minted coins, or have they run out of the silver with which to mint the coins.

If it is the first, then that is a production problem and it has happened before.

If it is the second, then that is a problem. A big problem.
 

pmbug

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If they claim that coins will be available again in 10 days, it's likely just a production problem.
 

Cybrsk8r

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Or they could be delaying shipment of existing coins until silver goes back up and they can charge more for them.

I actually prefer Maples anyway.
 

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http://www.zerohedge.com/news/2013-01-29/silver-eagle-sales-surge-all-time-record-january

A massive 7.4 million Silver Eagles were purchased from the U.S. Mint in January, considerably higher than the previous record from early 2011. After halting Silver coin production/sales for over a week, the Mint re-opened yesterday and demand once again surged. Having almost doubled from the first week in January, there remains two more days before the book is closed on January's sales. At 140,000 ounces, the Mint has also sold the most ounces of gold in January in almost three years, suggesting the rising 'currency wars' are stoking people's ongoing rotation from paper-to-physical assets as their 'wealth' slowing loses its value.

20130129_silver.jpg
 

pmbug

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They are doing it again:
... the US Mint alerted its Primary Dealers Thursday that The Mint is halting its weekly allocation of 2013 Silver Eagles, and will be suspending all sales of ASEs for 4 weeks!

*Updated 2:30pm EST: Silver Eagle shortage already underway as primary dealer wholesalers have taken the rare step of raising ASE prices intra-day on a Friday.

“The United States Mint will issue its last weekly allocation of 2013 dated American Eagle Silver Bullion coins on Monday, December 9, 2013. We will begin accepting orders for 2014 dated American Eagle Silver Bullion coins on Monday, January 13, 2014.”
...

http://www.silverdoctors.com/us-min...er-eagle-production-to-be-halted-for-4-weeks/

[Tin foil hat]They probably just want to put a lid on the record sales for 2013.[/tin foil hat]
 

ancona

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That's OK with me. We all know what happens when you try and lock down a pressure cooker. These guys think they have it all figured out don't they?
 
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