Gold and Silver Eagle sales way down YOY

[Tinbox]

I hope Provident does something like that, they mint cool ****, maybe something like a police boot smashed on person's head, i would scoop them up in a second.

Good idea, I'm thinking of a hitler look alike in a police uniform with a boot smashing maybe a homeless persons head (since there are all the stories of police abusing homeless people). Have an American flag in the background and "The Fourth Reich" stamped somewhere on the coin.

Or alternatively could go with a Stalin look alike and United Socialist States of America.

Too politically incorrect for a company like Provident to do, but maybe Chris Duane would do it on his new series.

 

[Tinbox]

I disagree. I believe that facts are subject to obfuscation.

I stand by what I wrote.

 

[2014]

Chris Duane would do anything or put anything on a blank to swindle someone into buying...

 

[2014]

Now here is a great idea for a medallian

Rob Grey on one side & Chris Duane on the other... Heads you lose. Tails you lose...

 

[Argentsum]

Heres some ammunition. Make of it what you will (psst: DYODD)

http://goldsilverworlds.com/15-gold-silver-price-charts-2013/

 

[Gcubed]

I stand by what I wrote.

I would expect nothing else.

 

[Gcubed]

Chris Duane would do anything or put anything on a blank to swindle someone into buying...

That's rather harsh by my thinking. I tend to believe he capitalizes on somewhat of a 'cult' following. JMHO.

 

[Hi Ho Silver]

your a trader, not an investor.

let's back it up. Would someone explain to me (a know nuttin kind of guy) what the difference is between a trader and an investor cuz I was thinking a trader is buying and selling for a quick profit (hopefully) and an investor buys the junk and hangs on for as long as he can and hopefully will make a nice profit down the road.

On a side note (nothing to do with the reply above)- ip addresses can help reveal little secrets...just sayin. echem, your secret is safe with me ;-)

 

[specsaregood]

I was wishing it would stop falling in the $30s. Oh well...

I was wishing it would get back to $10 again; but Id settle for $12.

 

[2014]

Heres some ammunition. Make of it what you will (psst: DYODD)

http://goldsilverworlds.com/15-gold-silver-price-charts-2013/

I looked at those charts.. It has a line angling up but why does it go way past where the actual price is?

 

[Tinbox]

Now here is a great idea for a medallian

Rob Grey on one side & Chris Duane on the other... Heads you lose. Tails you lose...

Gotta admit, that is pretty funny.

 

[Tinbox]

I looked at those charts.. It has a line angling up but why does it go way past where the actual price is?

I believe its done to show that gold has broken below the channel it was in.

 

[2014]

I used that same angling line to chart my penis size from the day I was born until I was 14.. I got all excited that I was gaining so much in siz but from 14-24.... Sadly past performance didn't equal the future...

 

[Tinbox]

Too much information

 

[2014]

I believe its done to show that gold has broken below the channel it was in.

Make a wider channel... Or make it smaller to where it broke in 2011 would be more honest,right?

 

[Gcubed]

let's back it up. Would someone explain to me (a know nuttin kind of guy) what the difference is between a trader and an investor cuz I was thinking a trader is buying and selling for a quick profit (hopefully) and an investor buys the junk and hangs on for as long as he can and hopefully will make a nice profit down the road.

On a side note (nothing to do with the reply above)- ip addresses can help reveal little secrets...just sayin. echem, your secret is safe with me ;-)

I would consider that guy a dreamer rather than an investor. Savvy investors plan getting both in AND out. JMHO.

 

[RUSH2112]

let's back it up. Would someone explain to me (a know nuttin kind of guy) what the difference is between a trader and an investor cuz I was thinking a trader is buying and selling for a quick profit (hopefully) and an investor buys the junk and hangs on for as long as he can and hopefully will make a nice profit down the road.

On a side note (nothing to do with the reply above)- ip addresses can help reveal little secrets...just sayin. echem, your secret is safe with me ;-)

Not sure how I would labelled, I bought a 100 oz. silver certificate yesterday in hopes of cashing it in the near future for physical. The certifcate is with a major Canadian bank and can be liquidated for cash by simply walking in to the bank. For me to buy 100 oz. of physical silver would have meant a day of driving in bad weather and a tank of fuel.

 

[Argentsum]

Not sure how I would labelled, I bought a 100 oz. silver certificate yesterday in hopes of cashing it in the near future for physical. The certifcate is with a major Canadian bank and can be liquidated for cash by simply walking in to the bank. For me to buy 100 oz. of physical silver would have meant a day of driving in bad weather and a tank of fuel.

I hope your paper is pretty.

 

[Tinbox]

Not sure how I would labelled, I bought a 100 oz. silver certificate yesterday in hopes of cashing it in the near future for physical. The certifcate is with a major Canadian bank and can be liquidated for cash by simply walking in to the bank. For me to buy 100 oz. of physical silver would have meant a day of driving in bad weather and a tank of fuel.

Don't you have any decent online dealers in Canada? Maybe Kitco? I guess I'd be worried about their tax issues with the government though and how that could potentially affect their business.

 

[RUSH2112]

I hope your paper is pretty.

It's actually just a contract on plain white printer paper backed by one of the worlds strongest banks. Regardless, I have some sub $20 silver exchangeable for FRN's or Canadian dollars. Would have been nice to walk down the street and buy 100 ase's but unfortunately that was not possible.

 

[Ahillock]

Don't you have any decent online dealers in Canada? Maybe Kitco? I guess I'd be worried about their tax issues with the government though and how that could potentially affect their business.

Or ship to a friend in the States and then have them send it on to you if you don't live close to a border town.

 

[RUSH2112]

Don't you have any decent online dealers in Canada? Maybe Kitco? I guess I'd be worried about their tax issues with the government though and how that could potentially affect their business.

My nearest major dealer was sold out of almost everything silver.

That other pm dealer, facing fraud allegations, was not an option.

 

[Tinbox]

My nearest major dealer was sold out of almost everything silver.

That other pm dealer, facing fraud allegations, was not an option.

Don't blame ya, I would not want to take that risk either.

 

[mcmurph]

I'd like to see Provident come out with a "Bullsh!tter" series of silver rounds.

On the obverse, Rob Kirby, Jim Willie, etc. On the reverse, a steaming heap of bullsh!t. :s9:

 

[Ahillock]

Are you disputing the fact that the allocation of ASE wasn't even bought up?

This sentence was written Jan 13



The full allocation wasn't even bought up....So,doesn't that make it a moot point,if even true?

Here is the article where you co-mingled some old news with new,that has since proven to contain several untruths

http://www.coinnews.net/2014/01/13/american-silver-eagle-limited-in-sales-start/

If we are going to go on about the allotment from this comment regarding the data the US Mint provided:

Coin News Update: Later on Monday, the U.S. Mint provided the opening day sales total for the 2014 Silver Eagle and it also specified the exact weekly allocation amount. It said first-day sales reached 3,180,500 coins from the weekly allocation of 3,575,000 coins. On Tuesday, the bureau said another 191,000 coins sold, leaving 203,500 left for the week. The Mint also said it expects next week’s allocation level to be around 500,000 to 600,000 coins as it begins "slowly building weekly inventories."

Of those 203,500 that were left after Tuesday, wonder how many of those were sold on Wednesday through Friday? If they sold 191,000 coins on Tuesday, don't see why the 203,500 couldn't be sold the remaining 3 days of the week.

The US Mint released the sales figures from Monday of this week (2/3/2014) and they sold 560,500 coins and then on Tuesday of this week (2/4/2014) they sold another 234,500 coins. So I'm not sure if that 203,500 coins left over from the weekly allocation means much as it doesn't provide the whole picture and those 203,500 coins wouldn't be a problem to sell over a 3 day period based on the other data provided by the Mint. The remainder of it could have been sold off the following 3 days of that week, meaning the whole allotment could very well have been sold and not had left overs.

 

[hernancortes]

Someone might ask Michael White why the mint only had 3.57M stockpiled for sale by Jan. 13th. In preparation for 2014 sales, yes the mint stopped sales on Dec. 9th but as Dave Harper reported they also significantly curtailed allotments (500,000/week) starting around November 1st. This is reflected in the relatively low November sales total of 2.3M. By my estimation the mint should've had 5 to 6 Million coins available by 1/13 but they only had 3.6M, then announced a mere 500-600 thousand available the next week. Michael White just said the mints allocation last week was 761 thou and this week will be 850 thou. So it would seem for the last several months at least the mint has been running at or below its lowest estimation of blank procurement - 800k/week.

 

[2014]

But if that were he case wouldn't pent up demand bought everything on day 1?

Dec 9-Jan 1 & demand is only 3.18 million on a new issue date?

 

[hernancortes]

Right and I'd be interested to hear what White says about that but that's just a a single day out of the year. Unlike in prior years the mint doesn't have a stockpile of blanks to fall back on like in 2011 when they sold 40 M and were never under allocation. With the mints current apparent blank procurement issues there won't be any records set this year. In the past the mint has really congratulated itself on its ability to expand supply and prod. capacity but if you look at the 2013 Annual Report they act like, yeah we're under allocation the entire year, what do you wanna make of it? The mint can produce more, they need to reach out to other suppliers and make it worth their while to work with them.

 

[2014]

Do they need a stockpile of blanks? Isn't that a risky way to lose money if the price drops? I'm getting a pretty uneasy feeling that demand isn't there. The demand right now is just because it has 2014 on it.

 

[hernancortes]

The enabling legislation of the Silver Eagle program was changed in a subtle way a couple years ago from, paraphrasing, "the mint must provide coins in numbers sufficient to meet to demand" to "must provide in numbers deemed sufficient by the Secretary". Perhaps this is why the mint no longer seems too concerned about whether they meet demand anymore. These days the mint could lay up a cushion of a couple million extra blanks and a big dip in spot might cause them to be gone in literally a couple days. I'm surprised there weren't more orders than there were on Jan. 13th but going back a few years, 1st day sales haven't been an accurate predictor of yearly sales.

 

[Gcubed]

Do they need a stockpile of blanks? Isn't that a risky way to lose money if the price drops? I'm getting a pretty uneasy feeling that demand isn't there. The demand right now is just because it has 2014 on it.

I must agree.

 

[hernancortes]

Right, that's the same as every January because date collecting is strong in mint state ase's. I'm coming at is as a collector more than a silver bug in my long term self-interest in saying I'd like to see the mint churn out as many of these as they possibly can.

 

[Gcubed]

Right, that's the same as every January because date collecting is strong in mint state ase's. I'm coming at is as a collector more than a silver bug in my long term self-interest in saying I'd like to see the mint churn out as many of these as they possibly can.

Wouldn't that hurt the 'collector' market? I would think that a low mintage would be better for you.

 

[Tinbox]

Wouldn't that hurt the 'collector' market? I would think that a low mintage would be better for you.

I'd assume he's hoping for a high mintage now so that the older dates with lower mintages look more appealing. I can't see 2014's ever having a premium beyond what they have now. (or any year with 10 million+ minted)

 

[Ahillock]

Wouldn't that hurt the 'collector' market? I would think that a low mintage would be better for you.

"Long term" is the key.

 

[Gcubed]

I'd assume he's hoping for a high mintage now so that the older dates with lower mintages look more appealing. I can't see 2014's ever having a premium beyond what they have now. (or any year with 10 million+ minted)

I've got some 94s and 96s that I may never see black ink on. Most likely 'will' more than 'may'.

 

[hernancortes]

I'd assume he's hoping for a high mintage now so that the older dates with lower mintages look more appealing. I can't see 2014's ever having a premium beyond what they have now. (or any year with 10 million+ minted)

That's it exactly, when I first started buying ase's 10 years ago every chance I got I would cherrypick the mid-1990's coins hoping they would acquire premiums down the road. Back then the only one with a premium was the '96. The price behavior of the key ase's has been quite unlike the various other 'collector' stuff from the mint... instead of hot&cold its been a slow but steady march upward. I think date collecting among MS ase's is here to stay but it's the mintmarked ase's I'm banked on.

 

[Tinbox]

I've got some 94s and 96s that I may never see black ink on. Most likely 'will' more than 'may'.

Really? I know your not a fan of Ebay but you may want to consider it for items like this, the last 6 completed listings for a roll of 1996 ASE's: 900, 900, 985, 995, 999, 1150.

 

[hernancortes]

Really? I know your not a fan of Ebay but you may want to consider it for items like this, the last 6 completed listings for a roll of 1996 ASE's: 900, 900, 985, 995, 999, 1150.

Condition is a big determinant of the price of back-dated ase's and fractional age's, because of the way they are packaged and attrition. The vast majority are not gems.

 

[1 old 0311]

So roughly 3.5% of a months mint supply from the biggest dealer on earth in the biggest sale of the year in the biggest pent up demand month of the year..

Color me not impressed

I need to rethink some things... I don't see investment demand being able to hold anywhere near 24% of silver supply

I did my part last month.:s1: