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mattduke
Light Sweet Crude
Joined: Oct 28, 2005
Posts: 1540
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 Posted: Fri Apr 18, 2008 9:53 pm Post subject: Mint To Resume Shipping Silver Eagles? |
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| I heard a rumor they will resume shipping silver eagles by May. Anyone else hear this? |
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RonMN
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Joined: Mar 18, 2005
Posts: 2691
Location: Minnesota
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| Posted: Sat Apr 19, 2008 7:17 am Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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I haven't heard that...but I find the physical silver shortage of the last 3-4 weeks to be amazing! It's very difficult to find any news on the subject as well.
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topcat
Intermediate Crude
Joined: Feb 01, 2006
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Location: Northern US
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| Posted: Sat Apr 19, 2008 7:54 am Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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I was at a large coin show last weekend (Dearborne, MI). One dealer I spoke with said that the mint would start production again but only said '...sometime this year...' Also said that when they do, it probably will not be for long as they will soon have to shift into 2009 production.
His guess is that the 2008's will have a low mintage, somewhere in line with the 1996's, which are selling between $50 to $65 a piece.
Yeah, I picked up a few extra 2008's.
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Gerben
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Joined: Mar 07, 2007
Posts: 391
Location: Holland, Belgica Foederata (Republic of the Seven United Netherlands)
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| Posted: Sat Apr 19, 2008 8:36 am Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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| I think it would make a lot more sense if the Fed issued $ 500 notes again. |
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smallpoxgirl
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| Posted: Sat Apr 19, 2008 11:15 am Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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This just blows me away. How can there be "shortages" while the price is dropping? Seems like obvious price fixing doesn't it?
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steam_cannon
Expert
Joined: Dec 28, 2006
Posts: 2559
Location: MA
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| Posted: Sat Apr 19, 2008 12:40 pm Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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| smallpoxgirl wrote: | This just blows me away. How can there be "shortages" while the
price is dropping? Seems like obvious price fixing doesn't it? |
Things are getting interesting... 
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3aidlillahi
Intermediate Crude
Joined: Mar 25, 2008
Posts: 864
Location: Alif Lam Mim
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| Posted: Sat Apr 19, 2008 4:44 pm Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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| smallpoxgirl wrote: | | This just blows me away. How can there be "shortages" while the price is dropping? Seems like obvious price fixing doesn't it? |
There's really two prices. One is the "spot" price which is for physical (plus the premium) IF you are able to get the physical (hard to come by anybody willing to part at a steady spot price) and for paper silver, which is as real as FRN's, so what's the point?
The other is the real price. Go to eBay and you can find people willing to pay up to $24-25/oz for Eagles.
'08's
'07's are over $22
Apmex had 9000 SAE's on Wed and had sold them out within 2 days. Anybody that was able to pay ~$21 (I think) for those got a pretty good deal.
I think we can expect market manipulation to take hold from here on out so expect the decoupling of the silver and possibly gold spots from the actual prices. There's no way you can sell 9000 for a single dealer while the price FALLS 3% in a day and over several weeks is pretty much steady around $18 +/- 50 cents.
| Quote: | I heard a rumor they will resume shipping silver eagles by May. Anyone else hear this?
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Rumor has it that they've been contacted for 5 million SAE's but have stated they (the Mint) can only deliver on 1 million. I've heard the new ones should be coming out sometime soon.
| Quote: | Yeah, I picked up a few extra 2008's.
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I've got a few tubes of '08's. When I got them, I messed around with them and some have minor scratches and blemishes on them (maybe from before as well). Will that have a major impact on resale down the line if '08's come to be the new '96's? Will they lose a great deal of the premium or just a few percent (~10-20%)?
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mattduke
Light Sweet Crude
Joined: Oct 28, 2005
Posts: 1540
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| Posted: Sat Apr 19, 2008 7:34 pm Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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| smallpoxgirl wrote: | | This just blows me away. How can there be "shortages" while the price is dropping? |
You said it. When prices are fixed (low), shortages arise. When they hammer the price, take the bullion off their hands. Find it and buy it with both hands. As much fun as it's been the past 8 years, the currency crisis hasn't begun yet. At this rate, we may get the beginnings of the currency crisis as soon as this summer. That's the first time I've said that. Not hyperinflation yet; maybe into 2009 for that, but a stiff drop, probably with an ECB response. I've been tracking this storm for the better part of a decade, and I still can't believe it when I feel the first raindrops. |
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mattduke
Light Sweet Crude
Joined: Oct 28, 2005
Posts: 1540
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| Posted: Sat Apr 19, 2008 7:49 pm Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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| 3aidlillahi wrote: | | I've got a few tubes of '08's. When I got them, I messed around with them and some have minor scratches and blemishes on them (maybe from before as well). Will that have a major impact on resale down the line if '08's come to be the new '96's? Will they lose a great deal of the premium or just a few percent (~10-20%)? |
12 years from now? The mind reels. |
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topcat
Intermediate Crude
Joined: Feb 01, 2006
Posts: 509
Location: Northern US
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| Posted: Sun Apr 20, 2008 11:56 am Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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3aidlillahi said:
| Quote: | I've got a few tubes of '08's. When I got them, I messed around with them and some have minor scratches and blemishes on them (maybe from before as well). Will that have a major impact on resale down the line if '08's come to be the new '96's? Will they lose a great deal of the premium or just a few percent (~10-20%)?
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IMO you should not see a large drop, unless your scratches are bad. Guess we will have to wait and see what the mint does and when also.
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"...the problem is today we have unknown unknowns."
Dominique Strauss-Kahn; IMF chief |
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Micki
Fission
Joined: Dec 07, 2005
Posts: 2017
Location: Australia
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| Posted: Sun Apr 20, 2008 6:50 pm Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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90% or more of for instance COMEX trades are settled in cash.
So the price fixers only need to have sufficient amount of silver to meet these minor needs for physical.
The paper short position is several years of production and 80% is held by 4 companies. COMEX dont' see any issue with this. Amongst other Ted Butler has inquired with them several time. One would think that a commodity exchange would be concerned that the short may be at risk of defaulting if required to do physical delivery, but no.
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3aidlillahi
Intermediate Crude
Joined: Mar 25, 2008
Posts: 864
Location: Alif Lam Mim
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| Posted: Wed Apr 23, 2008 8:02 am Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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I'm not sure if these are fresh off the Mint, but APMEX has SAE's that will ship out by 4/30. About $3 over spot though. Still better than what you can get on eBay which is around $25 per coin! APMEX
No word besides this deal, though.
Anybody that paid $25/coin is feeling pretty stupid right about now, I'm guessing.
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Iaato
Light Sweet Crude
Joined: Mar 12, 2007
Posts: 1009
Location: As close as I can get to the beginning of the pipe.
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| Posted: Fri May 23, 2008 2:00 pm Post subject: Re: Mint To Resume Shipping Silver Eagles? |
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Losing a Mint; Curb on Coin Sales WSJ
| Quote: | "The government rationed food during World War II and gasoline in the 1970s. Now it's imposing quotas on another precious commodity: 2008 dollar coins known as silver eagles.
The coins, each containing about an ounce of silver, have become so popular among investors seeking alternatives to stocks and real estate that the U.S. Mint can't make them fast enough. In March the mint stopped taking orders for the bullion coins. Late last month it began limiting how many coins its 13 authorized buyers worldwide are allowed to purchase." |
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