Comments on: US Mint Cutting Prices on Coins Containing Silver

By: Leo

Leo — Tue, 06 Aug 2013 18:15:32 +0000

Is it possible for prices to be lowered even more in the near future??

By: sean7k

sean7k — Fri, 12 Jul 2013 12:00:43 +0000

RBG,
You have to be flexible. Trying to outgun hft bots is not for the faint of heart. These are pretty typical economic responses (see “When Money Fails” ), so always be ready to take your money and run. The movement in bonds is a milestone.
The Bernank has driven everyone he can into stocks, I’m just waiting for the rug to get pulled out. It seems to have a time to run yet, so best of luck!

By: Kevin

Kevin — Fri, 12 Jul 2013 04:45:55 +0000

Interestingly, I ordered one each of the two ATB five oz silver coins today, the first day of the price reduction. First time EVER that the mint shipped the same day I ordered anything. With silver today at $20/oz and these selling for about $31/oz, I was hoping for a better price, but then again, it is the mint.

By: RonnieBGood

RonnieBGood — Fri, 12 Jul 2013 02:15:43 +0000

Sean – Yeah (you are smarter than the average bear). The so called “Great Depression” has had much more impact on price than the physical supply has had. There was a bit of pressure on supply during that time but there was never much of a problem getting G&S if the price was right. I expect that gold is now near the bottom if you factor in the net effect QE has had in the devaluation of the dollar. A very strong economy may push it down a bit further.

I used to rake it in selling coins. Now I do it day trading.
Good old Mr. B has played to the market and kept his comments positive on the ending of QE3 this time. With this in mind I can only say, go Google!

By: sean7k

sean7k — Wed, 10 Jul 2013 17:03:55 +0000

RBG,
The government ISSUES bonds, it does not buy them. The FED has been buying them and they are a private banking corporation. The government (taxpayers) are merely responsible for the debt.
The FED has been increasing the MS by 85 billion a month in addition to government debt financing that will be between .8 and 1 trillion this year.
Most of the bonds being bought by the FED are MBS bonds which bail out banks and other holders at face value, versus real market value. This is another form of bailout.
QE will end when the banks have enough capital to allow all other capital to be withdrawn, causing a new depression and opportunity to buy up debt for pennies on the dollar.
Silver and gold will bottom when the exchanges run out of physical to satisfy contracts. If you’ve been paying attention, the banks are now net long and it is the hedgies that are net short.

By: Eddie

Eddie — Wed, 10 Jul 2013 17:02:55 +0000

Good news!
The Mint changed status from “backordered” to “In stock and reserved” in my order of my 2013 West Point set that I placed on May 9th at 1:18 p.m. It also states I cannot cancel it anymore, which I has no intention to do…it’s coming home…:-)

By: RonnieBGood

RonnieBGood — Wed, 10 Jul 2013 13:55:01 +0000

Both Gold and Silver prices will bottom when the US unemployment rate reaches 6.5%.

This is when the the Government will end the monthly Bond buying program known as QE or Quantitative Easing.

The current umemployment rate is 7.6%.

By: Kevin

Kevin — Tue, 09 Jul 2013 04:40:27 +0000

I sent back some 2013 W unc ASEs. Guess I will buy back at a lower price. Even with paying shipping both ways, I saved. Was hoping for more of a cut though. However, I would be surprised if the prices ever get lower than what they are right now. India is buying silver hand over fist, esp since the govt is now taxing gold purchases.

By: Dave

Dave — Tue, 09 Jul 2013 01:15:35 +0000

So now is the time to hold and buy

By: jim

jim — Tue, 09 Jul 2013 00:40:00 +0000

the silver down 36% and yet the mint only down an average of 10%. think about it.