US Mint Ceases Silver Eagle Production due to high demand and other Friday morning ramblings
Huh? What you say? I have always been taught that if demand for something is on the rise that you would attempt to satisfy that demand by making more of what was being demanded. Seems to make sense to me. But for certain it does not make sense to the US Mint.
Demand for 1-troy oz American Silver Eagles has been so high that the mint has decided to stop making them all together. My partner in truth, The Mad Ape, has written an article on this. In fact he is my sponsor right now.
Here is a blurb from his blog on the issue:
BREAKING NEWS: US Mint Suspends Manufacturing of Silver Eagles
BUY GOLD AND SILVER AT WHOLESALE
The US Mint has, effective immediately, suspended all production of American Silver Eagle Coins. If you want to buy this product you need to do it NOW because once this becomes widely known, the price is going to shoot up.
Something stinks here and it is not my feet. I fear a bank holiday may be close at hand with this move by the mint.
FROM THE US MINT SITE:
American Eagle Silver Uncirculated Coin 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 lanks 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. Update: Due to the continued, sustained demand for American Eagle Silver Bullion Coins, 2009-dated American Eagle Silver Uncirculated Coins will not be produced.
Well that is one way to get rid of your demand problem…just close up the shop. F’ing government madmen. I guess gold will be next.
Speaking of gold, I see that the markets are going nuts for the second Friday morning in a row. Looks like the carry trade is still alive and kicking. These Banksters are doing everything in their power to lower the price of gold and boost the US dollar. They caused a 9% swing last Friday before regulators saw that fraud was afoot and suspend forex trading.
Give it up loons. For every tug you give, us sane people rip it from your hands. We know how you manipulate markets. We know that the dollar is kaput, doomed. We know that you are slimy scumbags that belong in a Turkish Prison.
Related posts:
