Mint sells 4 million silver ASE's on first day of 2013

Wolf359

That's a record for one day and it's also 11% of the annual US Mint production of Silver.

Click here

ksammut

One of the three predictions I made for 2013 the other day was 2013 would set a record for the most sold ASEs. 45 to 50 million could happen as long as the Mint keeps up with demand. Investors, who have been stacking for years, will get their share and I believe a lot of new investors, who are waking up to how bad the economy really is, will be buying with both hands.

bronco2078

They have sold 10,000 ounces of gold since Friday too

Baley

So, all the resellers are stocking up?

derryb

<< <i>So, all the resellers are stocking up? >>


looks like it

ksammut

<< <i>So, all the resellers are stocking up? >>



My local B&M has a had a lot of requests (more than normal) and I am guessing most other dealers and resellers are seeing the same thing.

derryb

Keep in mind the only authorized buyers from the mint are a very small group of wholesalers who are obviously expecting great retail demand.

Wolf359

Well somebody just grabbed a bunch of silver eagles off APMEX. Only 4,000 singles left. Over 10,000 5 days ago.

Wolf359

3800.

And no new ASE's for 10 more days.

OPA

<< <i>Well somebody just grabbed a bunch of silver eagles off APMEX. Only 4,000 singles left. Over 10,000 5 days ago. >>



Don't forget...APMEX is also a big seller on eBay.

derryb

I consider APMEX prices to be too high.

OPA

<< <i>I consider APMEX prices to be too high. >>



Not everyone has the funds required to do their shopping at Tulving. APMEX is just fine for the little guy, especially when they have a "sale" on silver or gold items with free s&h.

derryb

clarification: I consider APMEX's prices to be too high for ASE boxes. There are better prices available elsewhere for lower quantities as well. Provident, Texas Precious Metals, Jm Bullion, Gainsville Coins and DBS are the first to come to mind.

By the way, prior year ASE sealed boxes are drying up very fast. Other than APMEX (at too high a price) I did find two 2012 boxes from DBS for 2.69 over spot with free shipping. Only ones I could find, tulving is sold out. Afraid to place an order for 2013 boxes and have the money tied up on an order that might not get filled any time soon. Must be some hellacious demand for ASEs out there right now. Think the spread is gonna increase?

ksammut

<< <i>clarification: I consider APMEX's prices to be too high for ASE boxes. There are better prices available elsewhere for lower quantities as well. Provident, Texas Precious Metals, Jm Bullion, Gainsville Coins and DBS are the first to come to mind.

By the way, prior year ASE sealed boxes are drying up very fast. Other than APMEX (at too high a price) I did find two 2012 boxes from DBS for 2.69 over spot with free shipping. Only ones I could find, tulving is sold out. Afraid to place an order for 2013 boxes and have the money tied up on an order that might not get filled any time soon. Must be some hellacious demand for ASEs out there right now. Think the spread is gonna increase? >>



Looks like you can find boxes from $16,550 and up but you are correct, most sellers are waiting for their shipments or are already out of stock. Your money could be tied up for awhile. Those dealers who have received them could easily ask for a dollar or two higher premium and get it without a problem.

derryb

<< <i>

<< <i>clarification: I consider APMEX's prices to be too high for ASE boxes. There are better prices available elsewhere for lower quantities as well. Provident, Texas Precious Metals, Jm Bullion, Gainsville Coins and DBS are the first to come to mind.

By the way, prior year ASE sealed boxes are drying up very fast. Other than APMEX (at too high a price) I did find two 2012 boxes from DBS for 2.69 over spot with free shipping. Only ones I could find, tulving is sold out. Afraid to place an order for 2013 boxes and have the money tied up on an order that might not get filled any time soon. Must be some hellacious demand for ASEs out there right now. Think the spread is gonna increase? >>



Looks like you can find boxes from $16,550 and up but you are correct, most sellers are waiting for their shipments or are already out of stock. Your money could be tied up for awhile. Those dealers who have received them could easily ask for a dollar or two higher premium and get it without a problem. >>


Check out APMEX's prices for their prior year boxes that they do have.

Reason for my comment on their box prices. As for the sudden demand, there must be a lot of silver shirts in the making.

cohodk

So much demand, yet the price falls?

derryb

<< <i>So much demand, yet the price falls? >>


Metals 101 - price based on falling paper, premiums creeping up due to demand.

cohodk

Oh yeah I forgot. Demand is demand unless it isnt.

HonoluluDude

remember all that b.s. spouting out all over the blogs and forums about a silver shortage a few years ago? hmmm....

roadrunner

<< <i>

<< <i>So much demand, yet the price falls? >>


Metals 101 - price based on falling paper, premiums creeping up due to demand. >>



There is a market for large physical demand that is quite different than the paper price trading in London and NY. The new Asian bullion markets have much
higher paper premiums than the western markets as they are actually settling in physical and have enough not to "dissuade" buyers from requesting delivery.
The Comex sellers offer stiff cash premiums to spot to dissuade buyers from taking delivery. They have unlimited paper silver, but not unlimited physical to settle.
Unfortunately, those 5, 10, 15, 20% settle premiums don't show up in the daily spot prices. Keep it all on the down low as the big hands accumulate because when it's gone, it's gone.
Local shops and even larger players like Apmex aren't quite in the loop, so for now, they can keep offering physical in smaller quantities near spot even if the Comex and LBMA cannot
do the same thing on the larger deals.

roadrunner

<< <i>remember all that b.s. spouting out all over the blogs and forums about a silver shortage a few years ago? hmmm.... >>



How do you know there isn't? Because the paper spot price is $30? Simple math shows that investment demand over the past several years has far outstripped
industrial silver demand. What miners have been supplying is not enough. The slack has been met by recycled silver (90% coin, old bars, flatware, etc.). The recycled
silver has been drying up. Annual investment demand has not. Paper silver price could still drop to <$26 but it won't change the fact that physical silver is not out there in
large quantities unless you are one of the few buying directly from the mining companies or via large $Cash4Silver operations. A true silver shortage isn't going to rear its
head until the system cracks. Up until that day, a large % of "silver" buyers will be happy getting digital entries credited to their accounts.

OPA

When APMEX or Provident is offering $2.50 - $3.00 above spot to buy back your ASE's, (like they did a couple of years ago, during a temp. silver shortage) rest assured, a temporary physical silver shortage will be in upon us.

DoubleEagle59

<< <i>So much demand, yet the price falls? >>



Yes!

Isn't it wonderful?

A stacker's dream come true.

OPA

Up to 4.7 million ASE's as of the latest

ksammut

<< <i>Up to 4.7 million ASE's as of the latest >>



Thank you for the updates.

Wolf359

<< <i>

<< <i>Up to 4.7 million ASE's as of the latest >>



Thank you for the updates. >>



Now 5,082,000

Barndog

I bought 23 of them, not my fault

Baley

obviously, "the market" thinks the best use of this silver metal is to coin the 5 million plus ounces into this year's collectible disks for rich dudes to stick in their safes

roadrunner

<< <i>obviously, "the market" thinks the best use of this silver metal is to coin the 5 million plus ounces into this year's collectible disks for rich dudes to stick in their safes >>



Don't fight the FED...or the US govt. It just so happens that investment demand is the largest portion of the silver pie by far. If that weren't the case, price wouldn't be at
$30/oz as industrial demand isn't ready to get it there by itself. The market is always right.

Baley

"investment demand" was the largest part of the tulip-bulb-market pie at one time, too... until it wasn't

everybody bought them because they were going up, and they kept going up because everybody bought them.

then everybody sold them because they stopped going up, and then they went down because everybody sold them

same thing happened with houses in 2005-2008, and stocks in 1999-2000, and precious metals in 1978-1980, and houses in 1975-1979, and metals in 1963-1967, and stocks in 1928-1933...

the market is always right, but sometimes it takes a while to figure it out

OPA

Wow...up to 5.1 million

jmski52

"investment demand" was the largest part of the tulip-bulb-market pie at one time, too... until it wasn't

everybody bought them because they were going up, and they kept going up because everybody bought them.

Putting this into perspective, let's imagine what a demand of 30 million ounces would amount to. That's about 1/10th oz per every man, woman and child living in the U.S. Back when silver was used as real money, a dime contained something less than 1/10th oz.

An investment demand of 30 million oz in a full year is really not much, in terms of the population.

ksammut

For those of you who have not read this annual supply and demand chart for silver:

Silver Supply and Demand Chart

OPA

They can call it anything that they want, but to me it looks like a surplus of 164 million oz for 2011 down from 184 in 2010.

jmski52

Nice charts, ksammut - thanks!!!


They can call it anything that they want, but to me it looks like a surplus of 164 million oz for 2011 down from 184 in 2010.

You probably get some of that every time the price goes from $20/oz to $35/oz. (How odd - that reminds me of 1933 in some strange way.)


What I see is a couple of sources that are drying up, even as mine production is being maxed-out. All of this with a rising price trend. And the demand that matters - industrial demand - isn't really being destroyed by the higher prices.