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Re: 5 oz. Hockey Puck delays.............what are the odds that a silver shortage is responsible?

jmski52jmski52 Posts: 22,825 ✭✭✭✭✭
in Precious Metals
The last we knew, the silver shortage had been resolved and the Mint felt comfortable enough to produce the 2010-W Proof ASEs.

Then we were told that the 5 oz. coin production started in October, albeit at a fairly slow and deliberate clip.

In the meantime, we keep hearing about how the CFTC is going to address the blatant manipulation of the paper silver market, but then they don't.

Now, I'm reading Jim Willie's recent comments on silver and as always, he's freaking me out.

I'm not the sharpest tack in the box, but I'm really beginning to wonder if we have a problem with physical silver supply here.
Q: Are You Printing Money? Bernanke: Not Literally

I knew it would happen.

Comments

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I'm thinking we will see a lot better buy prices if there is a true shortage. Say for example ~ AMPEX paying + .10 cents over spot a oz..

    JMO, but I'm thinking my example would be a true indicator of a shortage of physical silver.
    Avid collector of GSA's.
  • 1jester1jester Posts: 8,637 ✭✭✭
    Lack of supply is also a reliable indicator of a shortage, not only increased buy prices. That makes perfect sense. Anyone visit a communist country 25 years ago? Low prices everywhere, but nothing good to buy on the shelves.

    imageimageimage
    .....GOD
    image

    "Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9

    "Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5

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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I just looked at AMPEX buy prices are spot up on most all silver~jmski52 looks like you may be onto somethingimageimage
    Avid collector of GSA's.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    THE PUCKS WILL BE RED HOT....if we ever see 'em.
  • carew4mecarew4me Posts: 3,470 ✭✭✭✭
    The authorization bill states that the initial 5 issues MUST be released THIS YEAR.
    Mint is cutting it CLOSE.

    Loves me some shiny!
  • jmski52jmski52 Posts: 22,825 ✭✭✭✭✭
    THE PUCKS WILL BE RED HOT....if we ever see 'em.

    That will not be good news out on the hockey rink. They will melt the ice!image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    In about two weeks the mint will have an over abundance of silver with all of the ASE proof returns.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • BuffalodeBuffalode Posts: 339
    I think it was CoinWorld that reported a few months ago the Mint had ordered 500,000 blanks. Supposedly the Mint purchases the silver and then has it turned into blanks (at least for the silver Eagles). If they follow the same procedure with these they should have already had the silver months ago. A question on the legislation for these- I think it says they have to be sold this year, but I don't think it specifically says they have to be minted or distributed this year. Is there anything to prevent the Mint from taking orders but not actually shipping until after the beginning of 2011?
    Bob

  • CaptHenwayCaptHenway Posts: 32,119 ✭✭✭✭✭
    The Mint orders the blanks pre-fabricated.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • BigEBigE Posts: 6,949 ✭✭✭


    << <i>In about two weeks the mint will have an over abundance of silver with all of the ASE proof returns. >>






    How do you know they wont just fill later orders with them?-------------BigE
    I'm glad I am a Tree
  • TrustNo1TrustNo1 Posts: 1,359 ✭
    There was a link on Drudge yesterday claiming a shortage if I remember correctly. edited to add: it hints at higher demand actually and increase in industrial use CNBC link
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    There is no shortage of silver. There is a shortage of good planning (silver blank procurement) at the mint.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    I think if the mint ordered only 500,000 blanks for 5 designs and that is it then there is the chance many of them are struck badly and discarded. That may be the holdup on these puckies, they don't have enough yet.
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