US Mint, Royal Mint, Poland Mint, Perth Mint, Banco Azteca out of Gold and Silver

Azurescens

(Author's credentials below.)

"The U.S. Mint thus far in 2021 has been unable to produce sufficient gold and silver American Eagles to meet continuing strong public demand. Retailers are now often quoting delivery days of as much as three to four weeks after payment or have often been forced to stop selling these coins altogether."

https://www.numismaticnews.net/us-coins/u-s-mint-boxed-in-by-legislation

"As we have been informed by the U.S. Mint’s primary distributors, called Authorized Purchasers, the Mint has not been able to further ramp up production of gold and silver American Eagles because it has not been able to acquire sufficient metals to do so."

"The federal government has a strong interest in holding down gold and silver prices, as a major tactic to minimize the interest rate it pays on its almost $30 trillion of debt."

Patrick A. Heller was honored as a 2019 FUN Numismatic Ambassador. He is also the recipient of the American Numismatic Association 2018 Glenn Smedley Memorial Service Award, 2017 Exemplary Service Award, 2012 Harry Forman National Dealer of the Year Award and 2008 Presidential Award. Over the years, he has also been honored by the Numismatic Literary Guild (including twice in 2020), Professional Numismatists Guild, Industry Council for Tangible Assets and the Michigan State Numismatic Society. He is the communications officer of Liberty Coin Service in Lansing, Mich., and writes Liberty’s Outlook, a monthly newsletter on rare coins and precious metals subjects.

Perth Mint is out of silver for six months, up to a year+. More info in comments. Some are saying they're settling for cash at spot. I've seen a few people express concerns on social media about never getting their stuff at all.

https://www.reddit.com/r/Wallstreetsilver/comments/m62lhu/breaking_news_perth_mint_out_of_physical_silver

Edit fixed formatting.

Also, where is all the gold going?

https://www.reddit.com/r/Gold/comments/m7dimi/wtf_where_is_all_the_gold_going/

Update: A couple other places are running out.

carew4me

The Billboard's are working!

derryb

Not producing coins fast enough to meet demand does not mean there is no metal. It means the mints cannot produce coins fast enough. I'm aware of the US Mint running out of precious metal only once (late 2008). When they are out of gold or silver you will know they are out of gold and silver.

US Mint website shows gold and silver coins available. This is not the first time demand has put mint in a delivery bind when it comes to bullion.

Perth Mint has gold and silver coins available with a one to two week shipping delay. Again, unable to produce coins fast enough to meet current demand. This unsubstantiated Reddit post shows why you should hold your own physical metal, especially when it comes to unallocated (doesn't have your name on it) metal, Perth is likely re-directing it's stored unallocated metal to meet coin demand:

OPA

"The federal government has a strong interest in holding down gold and silver prices, as a major tactic to minimize the interest rate it pays on its almost $30 trillion of debt."

Over the years, I've been taking P. Heller's comments with a "grain of salt," and will do so again.

derryb

Any interest the gov. might have in holding down gold and silver prices will be because of it's historic role as real money and/or the reflection if provides on public trust in our financial system. Gold price is a barometer of faith in the central bank and its policies.

ricko

Sure glad I got gold when it was cheap.... And now, physical gold is commanding excellent premiums. Not that I am selling any... it is going to go higher. Not because of the shortage, but the economic conditions that will hit at some point. Cheers, RickO

cohodk

@Azurescens said:

"The federal government has a strong interest in holding down gold and silver prices, as a major tactic to minimize the interest rate it pays on its almost $30 trillion of debt."

Id like to know how gold or silver prices effect interest rates. Shall i hold my breath for an answer?

isaiah58

As others have pointed out, the subject line is incorrect. The audience here, in general, are not Apes or emotional Meme chasers

Justacommeman

I was going to buy my normal monthly allotment of gold today. I was shocked to see the premium hit almost $200 an ounce. Will be buying paper gold this month

m

Higashiyama

@Azurescens quoted: "'The federal government has a strong interest in holding down gold and silver prices, as a major tactic to minimize the interest rate it pays on its almost $30 trillion of debt'"

As @cohodk suggested above, it would be interesting to better understand the purported link between gold and interest rates.

In fact, the Fed and the Treasury and Congress have no explicit policy related to the price of gold. To the extent that one can say a policy exists, it is one of monetary expansion, easy money, and low interest rates. These all would tend to lead to higher gold prices. So, perhaps our institutions are conspiring to increase the price of gold.

Azurescens

Perth Mint, Royal Mint, Mint of Poland, Bank of Mexico are all out of investment silver.

US mint is canceling old orders.

derryb

False Alarm.

Gold and Silver coins remain available at the US Mint website. Royal Mint shows a number of gold and silver products available. APMEX has lots of gold and silver available. US Mint 'cancellation" screenshot in OP is not unusual with limited mintage collector products.

The sky is not falling, yet.

carew4me

Yet "something" IS happening. These are not typical headlines.

"The audience here, in general, are not Apes or emotional Meme chasers" You just got here...stick around..you'd be surprised.