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Are American Eagle Bullion Coin Sales Taking a Breather?

Discussion in 'PM's - Coins - Numis - Base Metals' started by SongSungAU, Sep 20, 2016.



  1. SongSungAU

    SongSungAU Midas Member Midas Member

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    Looks like the steam kind of ran out compared to the last couple of years?

    SE160920.jpg

    The red boxes indicate the record months since the program started in 1986. The December record is still held by 1986 at 3,696,000.
     
    stonedywankanobe and savvydon like this.
  2. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    nice chart,

    wonder if that money rolled over to other products or out of the market?
     
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  3. stonedywankanobe

    stonedywankanobe Gold Member Gold Chaser

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    Thinking the rallie silver had this year put pressure on high er premium constitutional coins.
    Come wide brim hat time these same folks will be found wanting imho.
     
  4. tekhen

    tekhen Seeker Seeker

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    No they are not... but paper gold is.
    Overall, those who 'invest/insure' their fiat into gold eagles will continue to do so. From what I've read over the years, I would assume that many do not purchase the actual coin but purchase he coin through IRAs.
    Paper gold then effects the sale of the actual coinage.
    Collectors however will continue to purchase but I do not know the collector numbers.
    As far as investors are concerned, it is unfortunate that the fiat is weighed more than the actual weight in troy ounces.
     
  5. SongSungAU

    SongSungAU Midas Member Midas Member

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    Not a single month in 2017 set a sales record. Four monthly records made in 2015 and two in 2016.

    American Eagle Silver Bullion Sales

    American Eagle Silver Bullion Sales.jpg

    I don't know if the December 2017 amount is final or still to be updated. At any rate, the 2017 total for the whole year is less than half the total for 2016.
     
  6. Foxwoods Man

    Foxwoods Man Silver Member Silver Miner

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    I switched from ASE's to bullion pucks a few years ago but those sales aren't making up the decreased ASE sales...320k vs 3.8 million in September?
     
  7. hernancortes

    hernancortes Gold Member Gold Chaser

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    There is still time to buy the 1/2 oz '17 gold eagle cheaply while dealers still have them. They wont be as cheap 6 months from now.
     
  8. savvydon

    savvydon Gold Member Gold Chaser

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    Looks like the public is going back to sleep re PMs. Works fine for me - Nothing to see here.whistle:
     
  9. Merlin

    Merlin Gold Member Gold Chaser Site Supporter ++

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    You are allowed to hold physical gold and silver coins in an IRA. My trustee allows it.
     
  10. tekhen

    tekhen Seeker Seeker

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    Merlin...

    Do you hold the medals 'in hand' or is it held via custodian?
     
  11. Merlin

    Merlin Gold Member Gold Chaser Site Supporter ++

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    If your IRA itself owns the coins, then the custodian keeps them in a depository. On the other hand, if your IRA owns a limited liability company (my situation), then that company can own and hold anything. In my case, the IRA owned LLC has rent producing real estate, a hard currency account with Merk, a checking account, and a 500-coin, mint-sealed box of American eagle coins (which is held in the possession of the LLC buried God knows where or even lost in a boating accident.) Now, if I want to sell anything and take a distribution, the funds have to be remitted to the IRA trustee who then withholds taxes and issues the distribution check. Note: it is strictly forbidden for me to co-mingle my IRA-owned LLC funds with my personal money. The checking account, the real estate title, the coins -- all are in the name of the LLC and not available for my day-to-day use. The penalty for violating this rule can involve IRS confiscation of all the assets. Ouch!
     
    Last edited: Jan 10, 2018 at 10:56 AM
  12. southfork

    southfork Mother Lode Found Mother Lode

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    Eagles are just plain silver and the mint upcharge is too high, generic rounds is the way to go
     
  13. savvydon

    savvydon Gold Member Gold Chaser

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    They are extremely liquid, and when it comes time to sell the premium comes back to you. Spread is as tight as any other silver medium. 2c
     
  14. Foxwoods Man

    Foxwoods Man Silver Member Silver Miner

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    Correct but I wounder how a sale of an IRA restricted monster box would go....you can't/don't have possession so who decides on where to sell or who is the buyer and how is the physical transfer made. It's not like a stock/mutual fund where the trade is handled by you through the IRA company.

    I don't see the purpose of a monster box in an IRA. There are no profits (or losses) until it's sold anyway. It's not like dividends and cap gains are deferred...AND you will probably lose most of that premium over spot when selling to a dealer
     
  15. southfork

    southfork Mother Lode Found Mother Lode

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    Bought silver last week at www.funtopics.com .25 over, eagles were at least 2 bucks over, from the past they would not pay 2 over for eagles maybe a buck at best and generic can normally be sold at .50 under, all in all it depends on local but over time ive not seen a fair return on paying extra for eagles
     
  16. savvydon

    savvydon Gold Member Gold Chaser

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    I was just referring to buying and selling ASEs vs other bullion in general.

    I am not much of a fan of not being able to hold your own physical. Too many questions like the ones you are asking that become difficult to answer. Devil is in the details. Having said that, it is possible to hold your own metals in some PM IRAs.
     
  17. savvydon

    savvydon Gold Member Gold Chaser

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    Fair enough. It definitely does depend on the local market one is using. A lot of dealers will pay $1.50 over spot or more for ASEs in my experience.
     
  18. southfork

    southfork Mother Lode Found Mother Lode

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    This is why you should never let others hold your metals

    Morgan Stanley to settle class-action lawsuit

    Reuters Staff

    2 Min Read


    (Recasts, adds response from Morgan Stanley)

    NEW YORK, June 12 (Reuters) - Morgan Stanley (MS.N) will pay $4.4 million to settle a class-action lawsuit with brokerage clients who bought precious metals and paid storage fees, according to a court filing.

    The proposed settlement, which must be approved by the federal court in Manhattan, includes a cash component of $1.5 million and economic and remedial benefits valued at about $2.9 million, according to a court filing on Monday.

    The suit, filed in August 2005, alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store.

    But Morgan Stanley either made no investment specifically on behalf of those clients, or it made entirely different investments of lesser value and security, according to the complaint.

    “While we deny the allegations, we settled the case to avoid the cost and distraction of continued litigation,” Morgan Stanley said in a statement.

    According to the filing, Morgan Stanley argued there were no violations of law and no default or failure to perform or deliver precious metals.

    Morgan Stanley53.36
    MS.NNew York Stock Exchange
    +0.47(+0.89%)
    [​IMG]
    • MS.N
    The suit was filed by Selwyn Silberblatt, on behalf of himself and others who bought precious metals -- gold, silver, platinum and palladium in bullion bar or coins -- from Morgan Stanley DW Inc. and its predecessors and paid fees for their storage, according to the filing. The suit covered investors who did so between Feb. 19, 1986, and Jan. 10, 2007.

    Silberblatt, a resident of Maine when the suit was filed, bought silver bars from Morgan Stanley during that period.
     
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