<< <i>Reads like poor inventory management rather than excessive demand. Typical poor control by a Bobtail organization. >>
Quote from the Mint
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."
With over 6 million sold in less than 3 weeks, I don't see this as a: "typical poor control." The Mint only started to produce these in December and how long does it take to crank out 6 million of these? Who would have guessed that the demand would exceed supply in such a short period.
The OP's "headline: Mint runs out of silver" is misleading and reminds me of a tabloid headline.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>Reads like poor inventory management rather than excessive demand. Typical poor control by a Bobtail organization. >>
Quote from the Mint
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."
With over 6 million sold in less than 3 weeks, I don't see this as a: "typical poor control." The Mint only started to produce these in December and how long does it take to crank out 6 million of these? Who would have guessed that the demand would exceed supply in such a short period.
The OP's "headline: Mint runs out of silver" is misleading and reminds me of a tabloid headline. >>
If I am an AD and they cannot fill my order, and then they are "out of silver".
You will note that they confused bullion sales with the proof sales directly to the public. THis will no doubt cause some panic buying.
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.
<< <i>Isn't that about the same amount they sold last Jan, ~6mil? >>
For all of January, not just 2 1/2 weeks. As such, having "only" an inventory of 6 million on hand is understandable. Storage of more than 25 tons of silver ASE's could also be a factor.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>Imagine the US Mint as the USPS - only in charge of a production line instead of transporting letters and packages.
IMO the ASE suspension involves typical government SNAFUs and not unprecedented demand. >>
based on sales for the year it looks like demand for new ASEs is unprecedented.
"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
Doesn't seem like much is setting off any flurrys like previously. I'd be tickled pink if it keep going up in ranges. But if its going to be sideways and stagnent, I hope it goes to $26 again.
<< <i>Good I am glad, shouldn't this help the price of ASE's and silver go up? >>
<< <i>Doesn't seem like much is setting off any flurrys like previously. I'd be tickled pink if it keep going up in ranges. But if its going to be sideways and stagnent, I hope it goes to $26 again.
<< <i>Good I am glad, shouldn't this help the price of ASE's and silver go up? >>
>>
silver up, yes, along with ASEs. ASE premium should hold. Just a temporary thing though, mint caught unprepared. Affect on prices already here, lets see if holds. I don't think it will.
"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
<< <i>Good I am glad, shouldn't this help the price of ASE's and silver go up? >>
Unlikely.... As long as the shortage is only temporary, it should not affect the price of the ASE, after all, sales are expected to resume in 10 days. I don't see a "Not available" quote from any of the Mints A.B's of ASE's, yet.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Wholesalers started increasing prices yesterday afternoon. APMEX and Provident increased their retail prices as well. From both of them yesterday morning you could get approximately 3.25 over spot today you'd have to order 500 or more to get spot plus 3.99 if my math is right. It might only be a short term blip, but pricing is increasing.
Also, according to their website, Tulving is sold out.
<< <i>You would be a fool to pay the increased margin for SAE.
Just wait it out, another 30 Million to go. >>
There is no shortage of fools in the world!
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.
Apple contractor suggests that Apple has delayed production on the new 27” iMacs over an industrial silver shortage in China.
Supposedly these larger/brighter screens require more silver than the 21.5" which has also jacked up the price considerably. Have no clue how much silver is in one of these.
"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
Provident is offering 33.59 to buy 2012 ASE's If you sold them on ebay , after fees you wouldn't pocket 33.59 each unless you got at least 39$ for them.
Ebay prices are up on silver too , I watched common date franklin singles selling for almost $15 including shipping today.
Comments
Knowledge is the enemy of fear
<< <i>Reads like poor inventory management rather than excessive demand. Typical poor control by a Bobtail organization. >>
Quote from the Mint
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."
With over 6 million sold in less than 3 weeks, I don't see this as a: "typical poor control." The Mint only started to produce these in December and how long does it take to crank out 6 million of these? Who would have guessed that the demand would exceed supply in such a short period.
The OP's "headline: Mint runs out of silver" is misleading and reminds me of a tabloid headline.
<< <i>
<< <i>Reads like poor inventory management rather than excessive demand. Typical poor control by a Bobtail organization. >>
Quote from the Mint
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."
With over 6 million sold in less than 3 weeks, I don't see this as a: "typical poor control." The Mint only started to produce these in December and how long does it take to crank out 6 million of these? Who would have guessed that the demand would exceed supply in such a short period.
The OP's "headline: Mint runs out of silver" is misleading and reminds me of a tabloid headline. >>
If I am an AD and they cannot fill my order, and then they are "out of silver".
Loves me some shiny!
I knew it would happen.
linky
You will note that they confused bullion sales with the proof sales directly to the public. THis will no doubt cause some panic buying.
IMO the ASE suspension involves typical government SNAFUs and not unprecedented demand.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>Isn't that about the same amount they sold last Jan, ~6mil? >>
For all of January, not just 2 1/2 weeks. As such, having "only" an inventory of 6 million on hand is understandable. Storage of more than 25 tons of silver ASE's could also be a factor.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
<< <i>Imagine the US Mint as the USPS - only in charge of a production line instead of transporting letters and packages.
IMO the ASE suspension involves typical government SNAFUs and not unprecedented demand. >>
based on sales for the year it looks like demand for new ASEs is unprecedented.
"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
I'd be tickled pink if it keep going up in ranges. But if its going to be sideways
and stagnent, I hope it goes to $26 again.
<< <i>Good I am glad, shouldn't this help the price of ASE's and silver go up? >>
<< <i>Doesn't seem like much is setting off any flurrys like previously.
I'd be tickled pink if it keep going up in ranges. But if its going to be sideways
and stagnent, I hope it goes to $26 again.
<< <i>Good I am glad, shouldn't this help the price of ASE's and silver go up? >>
>>
silver up, yes, along with ASEs. ASE premium should hold. Just a temporary thing though, mint caught unprepared. Affect on prices already here, lets see if holds. I don't think it will.
"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
<< <i>Good I am glad, shouldn't this help the price of ASE's and silver go up? >>
Unlikely.... As long as the shortage is only temporary, it should not affect the price of the ASE, after all, sales are expected to resume in 10 days. I don't see a "Not available" quote from any of the Mints A.B's of ASE's, yet.
Also, according to their website, Tulving is sold out.
Edit for additional info
Please visit my website Millcitynumismatics.com
Just wait it out, another 30 Million to go.
Loves me some shiny!
In God We Trust.... all others pay in Gold and Silver!
Loves me some shiny!
<< <i>I had to call the Mint and stop production. The Mint was surging passed my "Guess the total SAE's sold for Jan - 2013" number!
I called them 10 days ago, w/o any luck...who's your inside contact?
bTW..APMEX has theirs on b/o for 1/31..obviously sold out their original allotment. Glad I got mine delivered yesterday.
<< <i>You would be a fool to pay the increased margin for SAE.
Just wait it out, another 30 Million to go. >>
There is no shortage of fools in the world!
Apple contractor suggests that Apple has delayed production on the new 27” iMacs over an industrial silver shortage in China.
Supposedly these larger/brighter screens require more silver than the 21.5" which has also jacked up the price considerably. Have no clue how much silver is in one of these.
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Delays in Apple PC Production points to growing worldwide shortage of silver
Unproven in my opinion. However, time will prove or debunk it.
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"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
Provident is offering 33.59 to buy 2012 ASE's If you sold them on ebay , after fees you wouldn't pocket 33.59 each unless you got at least 39$ for them.
Ebay prices are up on silver too , I watched common date franklin singles selling for almost $15 including shipping today.
still a little high but a better deal than most on them right now.