As Greece threatens to unravel the European Union experiment and China’s stock markets crash into an abyss, investors around the world are reportedly divesting themselves of traditional stocks and looking for alternate investments to protect their wealth.
Bitcoin, the digital crypto-currency, has seen a significant rise in price since last week when it was reported that Greek citizens were using it as a store of value rather than keeping money in their personal bank accounts.
Precious metals, of course, are another popular alternative, though if you were looking to the price of silver today you’d think that demand for metals is collapsing.
Nothing could be farther from the truth. Earlier today Future Money Trends sent an alert to subscribers of their Weekly Wealth Digest suggesting that not only is demand for precious metals rising, but an inside source has revealed that the U.S. Mint can’t keep up and the suspension of sales of Silver American Eagles, the Mint’s most popular coin, is imminent.
This is unconfirmed officially, but I just received an email from a very credible source stating that the U.S. Mint is going to suspend Silver Eagle sales imminently!
This is an unprecedented move this early in the year. With the crisis in Europe, the demand for physical silver is exploding.
According to the U.S. Mint, 2 million ounces sold in May, 4.8 million in June, and in the first week of July, it is already nearing 2 million ounces!
Supply is tight, with mine production down for the top silver producers, as well as a reduction in supply from smaller miners who are going bankrupt.
It seems counter-intuitive that the price of silver dropped 5% over the last 24 hours with physical demand so high, but as we’ve noted previously, the entire paper market game has been rigged by some of the world’s leading financial institutions and central banks.
The price suppression scheme is in full effect and today’s move was likely caused by a seller attempting to off-load $1 billion in non-existent paper denominated assets.
While mainstream media suggests it’s time to sell all your gold and silver assets to take advantage of record stock market highs, we’ll suggest to our readers that this may be yet another opportunity to invest in precious metals at affordable prices before the bottom falls out of the global economy and financial markets.
Last week President Obama promised Americans that the problems in Greece, Puerto Rico and China will not cause a global financial crisis.
President Barack Obama downplayed the threat that Greece’s debt crisis poses to the American economy, saying that the Hellenic Republic’s problems would create more woes for the European continent than the United States.
“In layman’s terms, for the American people, this is not something we believe will have a major shock to the system…”
Via: SGT Report
That is in and of itself the only warning you need.
The global financial crisis is actually in progress right here and now, and despite what we’re being told by the puppets in mainstream media it is not contained.
Prepare yourselves accordingly.
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Going tomorrow to buy some more silver. How about you?
Get it done before its too late!
Sgt.
Best time to have bought silver was in ’99, when it was 4$ an ounce…
Wish I had bought more…
ah yes, those time machines work wonders.
best time would have been ’64 or earlier, when you wouldn’t have needed to ‘purchase’ it at all, just set it aside
Did it yesterday
Did it this morning. I don’t care if it’s eagles, maple leafs or Hercules silver, I added to my stack.
Wiser to either spend the funds on either more prep items or ammo.
All areas of society are becoming unglued.
Almost bought a roll of Maples (25). Decided I needed other preps more.
BTW. I only, well anymore, buy Maples or Phiharmonics. Worried the Govmint could say that’s our name on those Eagles, we own ’em and we ‘re taking them back.
where to buy silver
“where to buy silver”
The three sources I use are Apmex (especially for pre-1965 US 90% silver coins), Provident, and SD Bullion. I’ve tried others but these are the 3 that I stick with. Go for the best deal, including shipping.
Check out your local pawn shop. That’s where I go and pay cash.
BINGO! Paying in cash also means the purchases cannot be tracked by Uncle!
ANON, As in many purchases, comparison shopping is the rule. First, stay away from the Sellers on national TV and Radio; premiums and practices are not in your best interests. Local Coin Stores (LCS), pawnshops and internet sellers are your possibilities. Internet sites with “Live” pricing give up to moment info.
Before you spend a $Dollar$ learn about various Silver products. Bullion coins, Rounds, Bars, Pre-65 U.S. coinage (90%). The “Premium”, the markup over the Spot Price of silver, will vary by product.
.coinflation.com shows the silver price of Pre-65 coinage(add www).
If you live in Portland, OR check out .AJPM.com. Live in southern CA check .golddealer.com (add www).
Hope this information will help you.
{mm}
Local coin dealers and pawn shops. Never online or anywhere that makes you pay to ship.
Bought two 10 ounce bars today.
If you didn’t get it at $14.50 today, shame on you! J/K
Seriously, better get it fast people…
C.K.
Working in the garden today. When I got done it was too late. Picked some Peas, Tomatoes, Onions. Damn weeds after all the rain we have gotten over the last 3 weeks everything is growing super fast. Food, and water first then Guns and ammo, then silver. I wish I knew that it was that low this morning I would have picked up some more. You are right “shame on me”, I should have been keeping a closer eye on it.
Sgt.
I bought some this morning after my walk, but probably not enough…..
No sweat, Sgt. We all have just two eyes and don’t spend ALL DAY hunched over a keyboard. 😉
In the end, it won’t matter what we paid, only how many ounces we have. Most people won’t have any ounces except for maybe the occasional piece of silverware or jewelry. Pity the poor fools who have the opportunity to stack at low prices today and have no clue that this should be a high priority in their lives.
Sgt,
We’ve had so much rain the weeds are having a field day in my garden. By now I’m usually half way thru my yearly canning, this year I haven’t even made pickles yet.
It’s just one of those years I suppose.
Take care.
Same here. I got my hands full. Can’t even use the tiller its so wet.
Cmon…this nothing but advertising.
I agree in holding physical precioua metals, and prepping…..but some of this over sensationalizing dribble is just a gimmic for a certain advertiser of this website.
Have we run out of jade helm conspiracies or something?
Could be dribble…
Or did the U.S. Mint literally suspend sales within the last 30 minutes because they have now confirmed they have sold out of silver Eagles?
http://www.silverseek.com/commentary/first-warning-signs-2008-style-silver-shortage-which-likely-will-be-far-worse-14615
Nice Mac. Good call. lmao.
BigB
Ok. Dribble was a poor choice. I know a lot of work goes into providing this info.
I should have used the more politically correct term of “FEAR PORN”.
That said, i own silver, wont say how much, and i read this sight daily.
Update. Just went to the us mint…bought 5 eagle proofs for $48ea. ????????????????????????Hmmmmmmmmmmmmmmm???
dribble |ˈdribəl|
noun
1 a thin stream of liquid; a trickle: a dribble of blood.
• saliva running from the mouth.
2 (in soccer, hockey, and basketball) an act or instance of taking the ball forward with repeated slight touches or bounces.
drivel |ˈdrivəl|
noun
silly nonsense: don’t talk such drivel!
Buying proof silver eagles is just plain dumb.
At 49 each. Agreed. Was inder the impression from this article though, that they weren’t selling any.
Anyway, this fearporn advertising is getting old. Im going to go see how the ufo crowd is doing…
If you’re going to bash Mac, at least get your facts straight. They’re not out of proofs because there’s not enough stupid people buying them at nearly 3x the cost of silver. Go buy some regular silver eagles for $15.00 ea and let us know what the expected delay is.
Douche-bag.
Remember, UFO’s run on gold, not silver. It’s something to do with the atomic structure vibration.
And $390 cash for a roll of ASEs with free shipping aint bad (@JMB)…
cdub how dare you call this Dribble! There is a better term called BS, but we’re fortunate to be preppers on SHTF site cause we know this stuff before the BigBoyz do, other wise silver wouldn’t be $15 an OZ. Trekker Out. But Today Could Be The Day!
There is MUCH more AU above ground than AG. An argument for owning silver. Calling this “dribble” is really unnecessary. Rather, riddle me this, Batman:
According to former Reagan treasury official, current Boston Univ. prof Dr. Lawrence Kotlikoff, TOTAL unfunded liabilities in the US are now around $222 TRILLION, if you count everything (simple to google this for verification). Three years ago, USA Today put the figure at ~70 trillion, if I recall.
Now, unless you have 10% growth (good luck with that under socialism!) you have three and ONLY three options (yes, you can combine): a.) you can raise taxes (which will destroy business, and cause people to revolt, by the way), b.) cut services (more revolt from the Free Obamphone Army), or c.) print money.
Please hear me, CD: ****There ARE no other options****
Period
Think the current situation Greece is in.
PMs are definitely being manipulated, and who knows? JP Morgue and Goldmun Suchs may drive prices down more. But better to be a year too early than a day too late.
I also suggest you google how much it takes to get an ounce of AG or AU out of the ground (N.B.: AG – silver, AU = gold), then see how long this is sustainable.
Clearly, the paper shorts are pushing PMs down to give the “all is well” signal to the gullible “Yes we can” chanting types due to Greece and China problems. Question is, how long can they keep that volleyball held underwater? If nothing else, think of it simply as a chaos hedge – you should have some presence. And for goodness’ sake, do NOT buy paper silver or gold!!!
Don’t try to time the market. If the price is in a good area, buy. And it IS in a good range right now. Again, think of what it costs to mine an ounce.
Even better is platinum – historically pricier than gold, an more rare – yet right now below the price of gold.
@Test… actually, there IS one more option… a good WAR. That gets the sheeple minds off of the sucking economy and puts a lot of people to work. That it is economically non-viable is irrelevant to the short-sighted “leaders” we have in the US.
Agree wholeheartedly on buying Pt. But it can be difficult to find any in spite of its below-gold price. Historically, that has been a screaming buy signal for Pt. When was the last time the US Mint made any new Pt coins? 2008 or 2012? Can’t recall. The Canadian mint strikes these. Will have to look into some Pt Maples. 🙂
The Canadian 1oz coin is .9999 as opposed to the eagle at.999. .9999 can make colloidal silver too.
Agreed…
Why buy it if you may not be here ?????????
dont fall for this scam
all this BS over what is basically over priced junk
and i am not talking about silver in general
just this BS of buying crap from the us eagles at way way way over value
you sure as hell wont get full price for them if the shtf
look at all the tv comercials for ” below mining and market value silver
“if silver just goes up to its mining and market price of $24.05 per oz ”
if that’s the case why the hell are these company’s selling at $14.05 ??
NO company can sell at below there cots to mine and manufacture NO ONE !!!
silver is going to go lower maybe not today or tomorrow but some day soon and all who bought at $ 20.00 and $30.00 and above are going to kick them selves
skittle shittin unicorn
Well, it sounds like some of that “$h*tt*n'” is in this post of yours. You don’t know what is going to happen, and neither to I. It’s all about risk mitigation, and PMs play a part in proper diversification.
BTW, Jim Rickards, who was the chief legal counsel for LTCM — with it’s Nobel Prize winners, PhDs, etc – in the late 1990s, now doing financial war gaming for the CIA and Pentagon, thinks gold could possibly go to $8,000 (notice the word “possibly”). do the math at current Au/Ag ratios, and you come up with… umm… just a tad more than your prediction.
I think I’ll stick with someone who meets with Fedheads, CIA/Pentagon financial gurus, and was chief counsel for LTCM – despite their massive miscalculation – rather than some unicorn that prides himself on leaving unicorn droppings on this website.
For the rest of you, pick up Rickards’ book. I didn’t find his newsletter helpful, as it just rehashed the book, but the recent books are very good, and readable. Basically, he thinks there are 4 possibilities
a.) Everyone will play nice in the sanbox with devaluations, a kumbayah solution he called it’
b.) Social choas. As if Obungler hasn’t already done that one!
c.) Return to some permutation of a gold standard
d.) Adoption of SDRs – which will be inflationary for the USD, in that oil, etc will now be purchased with that, and the USD will no longer be the reserve currency. He seemed to think that would be the likely outcome, but again, not saying for certain.
I can’t imagine why someone would resist (unless they don’t have the money) buying PMs when it costs more (or about the same) to get it out of the ground – on AVERAGE – than it sells for.
Keep chasing your unicorns. When you find one – along with the imaginary pot of gold it is guarding – the rest of us will have a real pot of gold or silver.
And no, in a complete meltdown, AU/AG will be worth little to nothing. But in a Greece/Argentina style meltdown, or when you need portable wealth, or if we get back to Jimmy Carter style stagflation (and there is NO way the Fed could do a Volcker today), then you will rue the day you spent $h1tt1n skittles rather than acting prudently
“d.) Adoption of SDRs – which will be inflationary for the USD, in that oil, etc will now be purchased with that, and the USD will no longer be the reserve currency.”
This is a great point. Economists who have looked at this tend to think that the US$ being a reserve currency increases its demand and causes it to be valued higher because of this demand. Furthermore, this demand for US$ increases their value by about 1/3. These numbers vary but this seems to be an average figure. Given this, if the US$ were to lose its world reserve currency status, it would be equivalent to about a 33% devaluation. That would make Americans a lot poorer because their money would buy 1/3 less than it did the day before the devaluation hit. Gold and silver holders, however, would not lose 1/3 of their savings because these metals do not play the inflation / deflation / devaluation games that fiat currencies play. IMO, it is very foolish not to have at least 10% of our personal wealth in PMs. I am there now and am considering taking this up to 15%.
Please look a 5 year chart of the SLV (silver ETF) that tracks the price of silver. It becomes obvious that the price began being manipulated in 2013, notice especially the spike in volume. That’s the indicator of manipulation, it’s when they started trading far more than is mined or even for sale during any given period. Normally a lot of volume demand would drive the price up, but it went down due to massive naked shorting. Thus the dollar and the euro were propped up. A chart of the GLD (gold ETF) will show a similar tipping point, but occurred earlier. Again it props up the dollar and the euro. Currently both Gold and Silver are manipulated prices that are now below the cost to mine them. In fact the miners stocks were crushed the last two days, many are going belly up in the face of record demand, but a manipulated price that doesn’t act as a free market.
Next look at some charts for beef, pork bellies, chicken, wheat, etc. and you will see the charts steep and steady climb in price due to inflation, during the same period. Gold and silver should be following the same trajectory.
Bottom line, this implies that gold and silver are artificially low because it suites the FED and Treasury Department.
If their prices were to simply correct due to normal market pressure, you could double your money overnight. It does cost the government gold and silver to manipulate these prices like this, and word is they are running out of gold and silver in their vaults.
Is there a risk? Yes, if we go into a deflationary depression cycle, the price of precious metals could drop more, while cash would grow in value.
If the dollar begins to falter and hyper inflation kicks in, or the government is forced to admit they have no more gold, everyone else will lose their shirt, while your gold and silver likely come under high demand and not only correct, but fetch a premium, while cash loses its value.
My advice, always be diversified in your investments, and prepping is an investment. It’s as important as having insurance, or a retirement plan, or a place to live!
I am continuing to dump bonds and stocks for cash and precious metals, I still have several great stocks that I picked up at the low point of the 2008 crash that pay solid dividends. Those I will likely keep. They are mainly utilities that are legally protected against loss, meaning before they will go bankrupt the government will let them raise rates, as high as needed!
I think a huge crash is coming, and even a little money on the side will let a savvy investor make a killing. Keep your powder dry, applies to investing too!
Silver is the more volatile of the two, it moves first, fastest and with wider swings than gold. It will be a primary indicator. Gold will follow, but with more conservative swings. By this point the government may limit private sales of gold and silver fearing people will hoard wealth the government wants to control or even confiscate!
In the last Great Depression the government had little debt, the dollar was backed by gold, and Fort Knox was full of gold. This time the government is bankrupt, in massive debt, and the dollar is only backed by failed government policies. The government has stockpiled no food, we now have zero grain reserves, Obama sold it all off! The only thing this government has stockpiled is hollow point bullets, that are internationally banned from use in war, but perfectly legal to use in a democide of the American people.
You made some very valid points. Great post.
Excellent post. 🙂
We have a lot of options when it comes to wealth management and preservation. Having a solid allocation to gold and silver is a very sensible thing to do but to hear Wall Street and their paid shills in the financial press tell it, it’s the worst thing you can do to your wealth. Hogwash! Wall Street can’t make any money on the money we put into physical PMs. THAT is their main gripe about PMs.
Bonds? YETCH! These are among the very few investments that are guaranteed to lose money because they pay a pittance and what is earned is often taxed in spite of the fact that real inflation is about 8% and a 10 year UST bond pays about 2.4%. Add to that the fact that the world is absolutely awash in debt (much of which is sovereign debt, aka bonds) and that anything that is available in ever-increasing amount tends to be of ever-decreasing value. I sold all of my bonds in 2007 and would not touch one as an investment today. Instead, I have used a mix of big-cap blue-chip dividend-paying stocks, healthcare / bio-tech stocks, and REITs to provide the income that bonds once did. That they are beating the hell out of the 5-6% interest that bonds paid back in the day and are now paying 1/3 to 1/2 of that is just the cherry on top.
We have Wall Street saying we should ignore the best bargain in town, gold and silver, which have not only lagged two and a half years of inflation, but have gone well below that!
Now instead, Wall Street wants us to chase the bubbling stock market at its all time highs?
The last time this happened was 2008 and that wasn’t pretty.
If the Chinese stock market continues to crash, gold could get a bit cheaper. Those that bought on margin will need to sell anything they can to stay liquid. That includes gold and silver they have also been buying up in China. The immediate demand in China for gold may drop as well since they have lost considerable wealth in the Chinese real estate collapse, and now the Chinese stock market collapse.
I love a declining market and will space out purchases buying as it goes down, increasing my purchase amount with each price stop!
PTPO,
Thanks. That was very insightful and useful information on PMs. I am with you on the diversification aspect. Liquidity is a problem compared to hard cash in that you can’t go down to the gas station and pay for it in PMs. Good reason to keep some Hamiltons and Jeffersons in some No. 10 cans like DK is fond of recommending. Sooner or later, the preps of all sorts being recommended will be worth all the efforts and expenses and more. TPTB are going to find a way, if they can, to kick the can down the road, but at some point ‘a feather’ will break the economic camel’s back and the house of cards that they have been so feverishly building is bound to all come tumbling down. We live in interesting times.
Mac, thanks for the heads up! It is anything but dribbling drivel! This site is much appreciated and I for one am always learning when I come here.
laeagle
Every town has a dozen store fronts that will buy gold and silver. I don’t recommend using them, they are a rip off, I’m just saying it’s more liquid than many think.
You should not be buying gold and silver for day to day expenses, I buy it as a long term hedge against a dollar failure, or high inflation, currency devaluation, and yes if US dollar is dumped as the reserve currency for oil sales or the world reserve currency for bank reserves. I did buy a bag of Kennedy 90% silver half dollars for SHTF currency. Melt value of these coins is about $5.48 each. A very convenient size for barter.
My broker asked how much gold I had and I said my goal was to have enough to pay a years taxes on my house! He thought for a minute, looked at my tax bill and said triple it! He said he had never thought of it in those terms, and really liked the idea. And let me say, when the SHTF and no one is paying taxes, the town will likely not turn away a payment made in US gold coins. In fact you might just be able to talk them into a discount!
Many were looking to the Chinese Yuan as a new reserve currency, but Chinese handling of their own real estate crash and stock market crash is now scarring the crap out of the world and the Chinese Yuan was going to be foundational to a BRIC nation reserve currency bucket. Time to drop ten and punt on that idea!
PTPO,
Thanks. I wasn’t sure if you saw my response. I am with you. Personally, I am thinking that it may be wiser to buy gold than dirt/land because you are not tied down to a specific location which may or may not be a good value/investment/or desirable when SHTF. Gold and silver should always keep their value and they are definitely a lot more portable than land or realestate. I do like the idea of having enough gold to pay your taxes.
I am with DK on the reserve currency discussion. It looks like TPTB are trying to get rid of that status and there is talk about something else being floated by the IMF this Fall. Things may be deteriorating faster than they had planned, what with the state of the Euro with the Greece debacle. People are also afraid of holding too much cash.
There is so much uncertainty in our world today. Death and taxes are the only things that are truly certain.
Greece potentially pulling out of the EU makes the Euro a questionable bet. The entire plan to create a basket of currencies is becoming a nightmare especially with a China recession happening right now.
I hear the German economy is the next big domino to fall, their demographics suck, they have an aging post war baby boom population that is ready to retire in mass. Japan’s population peaked like this ten years ago, and their economy is still floundering and failing to recover.
Watch some YouTube videos by Harry Dent and economist who specializes in analyzing demographics, very good stuff!
People need to stay as far away as they can from bonds, when the crash hits many bonds will default.
Extra to what I said before.
In the Great Depression, undeveloped real estate was a good, but not great investment.
Developed real estate was a disaster.
Real estate is going to be a disaster unless it is incredibly well placed. In the crash to come unless you are invested in the Washington beltway or some other well leveraged location, you will lose. The next best thing is undeveloped real estate, like farm land.
Farm land will need to be subsidized for a decade or so, but in the long term it will hold.
I would invite those speculating in Silver to go back far in history and globally (250 + years to current times ) and see for yourself the cyclical and Historic price movements in Silver whenever currencies fail anywhere.
The issue of Greece is but a popcorn fart for the real, deep underlying monetary colapse facing the globe at this time.
China is the one that will bring it down in due time. Truth is China does not have all of the t-bonds (1.22 Trillion)the media claims they do. Some of those went to other Countries such as Australia for mining rights of ,guess what? METALS of many types!Those Countries need to Cash those Bonds but can’t w/out bringing the whole system down. And China, Russia, and India have a lot of Metal.
Readers Digest Version:
Those stacking Silver, When this thing pops, are going to see a phenominal spike in prices. This is not a opinion. Throughout History when a currency colapses Silver spikes.
Look for yourself. Even those whose dollar cost avg. is high currently will be vindicated in time.
The Globe is broke and who holds the Metal? It’s all over but the crying for the currencies globally.
The whole Globe is broke. Banks,Govt.,Co.s, the Public.
Plus 5 points if that were available.
When the son of satan say’s there’s nothing to worry about, he means the opposite.
Indeed he does, for he is a deceiver of the highest rank.
Did the insider reveal if the mint would sell bars and bullion? Or is this another attempt to spur silver purchasing? I’m all about PMs, but not on the fear level. I guess we’ll know in the next 48-72 hours.
I think silver purchasing has been spurred on it’s own with all the uncertainty going on around the world.
I think this report applies strictly to silver eagles. The Mint has sold out at this point.
There is still plenty of silver out there from your local dealers or internet dealers… Though the premiums are now compensating for the paper price drops… Though the price is listed at ~$15 right now, dealer premiums on Eagles are running $3.50 – $4.00 per ounce … regular bullion seems to be $1.50 to $2.00.
But, suppose tomorrow its no good?
The US mint runs out of gold and silver to make coins every year. They purposely limit production to maintain demand/price.
They are also limited to making them with gold and silver mined in the US. This strange law has unintended consequences!
When Obama shut down the last lead smelter in the US last year he directly affected the production of US silver since lead deposits often contain silver as a byproduct. All US lead ore is now shipped to other countries to be smelted. When they are done refining the lead, we won’t see the silver or other rare earth metals the ore contained, ever come back to the US.
Thanks Mac and good call. Of course, I’ve been stacking for awhile so today was nothing big. Another 10oz bar of Ag and a small drop of Au to boot.
Just did a full inventory 2 days ago, I’m OK – heck, even found a few lost ounces.
Should be fun to watch the world freak out.
At this point, I honestly hope they can kick the can down the road a bit more to give us more time to position ourselves for a full-on collapse of the global economy… and the crash in financial markets / monetary markets that will likely follow…
A few more years would be great… But things aren’t looking all that positive at this point in time.
The world will indeed freak out… and then people will wonder why no one told them… (deep down, I think most people know but they just don’t want to admit how bad things really are)
Mac,the hardest part to get folks to prep for either natural/manmade disaster is the mental.Folks keep bandaids/cream/ointments,a spare tire in car,usually some types of insurance thus they realise things can go wrong,but huge/epic disaster,even with wars/nature in it’s fury ect. a tough thing to get thru.That said,once that mental barrier breached they are all open eyes and ears to thoughts/plans/ideas.This is why I say never give up on folks you care about,don’t harp but put forth reasonabley,don’t say why things may go wrong,just show historical examples,keep your own reasons why out of it(even though our reasons are right!).Till too late,keep trying,and remember”The smalls add up”!
Well… we told them. They were just too busy chanting “Yes we can” or “Yes, we have no bananas” (same thing in terms of effect).
Be careful what you ask for. A freaked out world could very quickly become a very dangerous place. Good deal on finding those lost ozs.
A freaked out world usually looks for scapegoats. It wasn’t just Jews dying in the death camps.
Russian gulags were filled with people who simply had an opinion!
We all can plainly see our government who knows what is coming, is storing up enough bullets to empty a full magazine into every man woman and child in the US, but only enough food for their elites and insiders.
The three year grain reserve the US maintained for decades during the Cold War, is no more. Obama sold it all off!
That’s cool, I buy maple leafs .9999 and pandas now. My eagles were bought for 6 bucks back in the day. Wish I had bought more.
Yes, it’ll be a good time to flip to ML’s, for sure. I have my Eagles for emergency’s. Time to stack more gold, 90% silver and some ML’s too boot.
I think when it comes right down to it, an oz of silver will be worth the same, regardless of what is stamped on it. Maple leafs will be worth the same as Eagles. Personally, I like the look of the eagles, and I had a 1 oz gold Eagle from the 1800’s. In SHTF, the 1800’s Eagle will probably not be worth any more than the 2010 Eagles. Gold weight. Same with silver.
So I don’t think it matters much that they’re not selling Eagles right now. Silver is still available at a decent price.
JMO
They started making the modern Eagle coins back in 1986, IIRC, so there are no Eagles of this type from the 1800s. A recent Eagle coin contains a full oz. of gold while the old $20 double eagle coins contained a little less than an oz. (0.9675 oz. or so) The old double eagles carry a bigger premium than the more recent coins in spite of their lower gold weight, so swapping a $20 double eagle for a modern eagle plus some silver or cash looks good to me. As you say, during a SHTF time both likely will be seen as equal in value.
I think they technically call it a “Saint Gaudens $20 Double Eagle”, sorry, I misspoke. But my coin did look just like the new ones, only worn a little. Here’s a link to a coin like mine.
ht tp://www.apmex.com/category/11902/20-double-eagles-saint-gaudens-1907-1933
That was the first time I had a gold coin in my possession, I had no idea what I was doing at that time…I still don’t know a whole lot about it.
Tube of 20 Eagles, 365.
http://www.ebay.com/itm/SPECIAL-PRICE-2015-1-oz-Silver-American-Eagle-BU-Lot-Roll-Tube-of-20/141528111687?_trksid=p2045573.c100034.m2102&_trkparms=aid%3D222007%26algo%3DSIC.MBE%26ao%3D1%26asc%3D32294%26meid%3D4a2345a8ec0041afaa7807a5b35ca170%26pid%3D100034%26rk%3D1%26rkt%3D8%26mehot%3Dpp%26sd%3D121532044678
Sorry if I’m breaking a rule with the link.
Your tip was right on, thank you. I picked up a couple tubes for what seems like a steal.
On the very day they crashed the price of silver by $.65 an ounce. I really detest corrupt bankers and corrupt politicians. They should all be fired and put on the bread line. This is the nicest thing I can say about their sorry asses.
@Banderman,
Why should we feed the SOB’s? If there was ever a time to practice civil forfeiture it is now and bankers should be the targets. All of their assets. They put people on the street, ripped off the American taxpayers, made sure to prop up foreign banks with bailout funds. I could go on but they’re not worth the effort. Get a rope.
You’ve got to think this thing through…
Why would the big players crash the price? How about maybe they are wanting to acquire more themselves at a lower price?
Think about it…..
Say you are a major player and are holding a big position in PAPER silver. You sell that off, driving the price down but then purchase physical at the now lower price. Why would they do that, since they are taking a loss on the paper asset? Maybe it’s because they KNOW that the physical asset will shortly rise steeply and offset those paper losses.
It is in the interest of the big money bunch right now for the prices to be depressed. They are acquiring it at those deflated prices….trust me.
And we should be doing the same, buying as low as we can.
This is all about the paper silver game. Selling the paper to push the price down to get physical. Silver is heavily leveraged ith paper. Sme bankers gonna get caught with their pants down.
Yes, that is probably what JP Morgue is doing right now. I think they have the largest short position. Ted Butler, Harvey Organ, http://www.silverdoctors.com and David Morgan at http://www.silver-investor.com are some of the ones I am familiar with. Butler is kind of the grand daddy of them all. King World News is also good.
If you want to buy physical but don’t want to store it locally, I have used goldmoney.com (just bought by someone, I forget), which has allocated PMs; the Central Fund of Canada also only has physical, as do some of the Sprott funds (also in Canada). Finally, you CAN hold PMs in a self directed IRA. Just make SURE they are allocated only to you!!
As always, these guys get a lot of their calls wrong. Some of it is due to collusion and market manipulation; some is just the inherent nature of prognosticating in finance. But I think overall they are good to review, and I do listen to what they have to say.
TEST- thx for the comments in this thread.
RE: Having a physical PM IRA- Due to insurance costs, storage fees, and administrative fees, it costs an average of $225 US each year to maintain one. (source: USAGOLD “how to roll over your IRA to gold”.)
Worth it if the dollar tanks and gold rockets… … ? …
“Step right up, folks… yoos pays yer money and yoos takes yer chances…”
Forget the bread line… put ’em on the rock pile making gravel from boulders for 12 hours a day. ABout time they did some honest work instead of spending all their time screwing people out of their hard-earned money.
I was over at whatreallyhappened.com and clicked on this article and it took me here. I looked at the silver price early this morning and noticed it had dropped about a dollar, I called Gainesville Coin to check out how much over spot they charged, Over 20 eagles were 2.79 over spot, over 25 maple leafs were 2.29 over spot, .20 higher for less than those amounts. This was about noon and the spot price was back to 15 dollars, eventually back up to about 15.60 recovering the dollar slide before ending at just over 15. Nobody told me the mint was stopping delivery while on the phone. To me, paying the near 4 dollars most places want over spot is too much, that would be close to a third the cost of the coin. I don’t understand why the silver eagles are more expensive than the purer maple leafs.
” I don’t understand why the silver eagles are more expensive than the purer maple leafs.”
Is it about collectability or what ?
I dont get it either.
Silver is just that , if its 999 pure , who cares whats stamped on it ?
Anyone got an explanation ?
Demand, nothing else. US silver is more in demand in the US than Canadian silver is, for the same reason that coin collectors prefer US coinage to foreign coins.
You’re right, the silver content is the same, actually the Maple Leaf is a little bit finer in content.
First-world silver will always be acceptable coinage when SHTF comes around, don’t turn down things like Maple Leaves, Britannias, Kookaburras, etc.
Good info , so i will stick with buying US stamped metals and assume higher demand and return. slightly..
I do buy other individual coins , just cuz i like them though , kinda fun .
I just ordered britannias, because I didn’t have any yet.
Smokey. Exactly.
Recognition is the key. That is why junk silver is such a good buy. Interestingly – and to answer your question in a roundabout way – for a few years in WWII, nickels were made partially of silver (I think it was 40%, but that is from memory). Some of the Kennedy halves were also less than 90%. But how could the average layman tell? Most would know a 1960 silver quarter from a 1965 sandwich quarter, but a nickel would be hard, and so would some of the Kennedy halves. And since you don’t know – or at least the average layman – the price is lower, as demand is less.
People here should buy PMs – even if only a little. Probably “junk” silver is your best bet – not eagles – if you want lower markups and are price sensitive.
Best of all right now is platinum – historic lows vis-a-vis gold and far below cost of extraction.
I’ll bet Greeks who had gold or silver as part of their preps aren’t complaining too loudly right now.
It is not difficult to tell a 40% silver Kennedy from a 90% silver Kennedy. 1st, dates… 1964 = 90% silver and 1965-1970 = 40% silver. With a small scale, the difference in weight can be measured. A 90% silver quarter weighs about 6.5 grams, IIRC, while one of the sandwich pot metal coins weighs about 5.0 grams.
Oh, and the “war nickels” were 35% silver. They did this so that they could reserve more nickel for armor plating on tanks and ships.
Kennedy halves were either 90% or 40%.
The 40’s are generally called clad halves or clad Kennedy’s, it is obvious what they are since they have a copper slab in their middle while 90% ones don’t.
90% was made in 1964 only and 40% were made from 1964 – 1970. Silver Kennedy’s made after that are very limited in number and in proof sets for collectors.
A copper penny (even with its zinc core) will be worth current $10 when shtf. It happened in Brazil.
Paper is what will be worthless. There’s currently about a thousand times more paper “money” than actual coin (whether gold, silver or copper/nickel/zinc). Remember all the people who’ve been electrocuted climbing poles and towers to steal copper????
“Remember all the people who’ve been electrocuted climbing poles and towers to steal copper????”
Nope, don’t remember them. But it sounds as if fate delivered justice to them via their own actions.
Many believe it is safer to deal in US gold and silver coins because the US government must actively investigate any counterfeiting.
The same government agencies could care less if you get swindled by counterfeit Kugerrands or Canadian maple leafs. That is referred to local police with a remark like buyer be ware!
A huge scam run by the .gov is the American Silver Eagle, selling you a coin for $18 while stamping it with only $1 denomination. That is THE scam. One Dollar coin, I’ll bet that is what they are planning to force you to sell it back to them for when the hammer falls. Same deal with the Gold Eagle.
The US Mint (per THEIR web site-2 minutes ago when I looked at it) says they will start selling Silver Gold Eagles AGAIN, within two weeks,confirming in August 2015 after they “re-stock”.
Seems that somebody left that little tidbit OUT of his posts and article.
How is this supply and demand market place a “shock”or “surprise” to anyone, unless there is intentional manipulation going to instill panic buying into those who use this site for information?
No need to “panic” nor is there a need to “instill” fear into anyone unless there are commissions….oops! advert dollars at stake.
TPS, I saw the same. Bulk sales to dealers will resume next month. Slow and steady cost averaging for me. Panic purchases have not worked out well in my experience.
It has nothing to do with China’s announcement to develop 100 gigawatts of solar and its requirement for 258 Tons of silver to do that….nope. In the march to war this is just a boot step, like Bear bombers patrolling within sight of the west coast.
Well, pappy, I’m sure you know that 200 miles off the coast is international airspace and not really “within sight”. This provocation and testing is routine.
I wish people would quit watching FOX Entertainment and Righteous Right News…or CNN and Liberal Left PC News.
This shit goes on all the time…the warmongers love to play it as if it is “news”.
They were within the ADZ. Intercepted before entering sovereign airspace at 12 miles.
ht tp://www.businessinsider.com/russian-bombers-intercepted-off-us-coast-2015-7.
Would of been too late either way.
Yes, the ADZ is international airspace.
BTW, any military aircraft of any country are exempt from filing any “flight plan” in the ADZ according to corporate federal Code. Only aircraft that intend to enter US airspace are required to check in.
This is all fear mongering by neocons.
The key words here are “Intercepted BEFORE entering sovereign airspace”
It’s a non-issue inflated by the MSM. They just did the same thing to one of ours, over in THEIR airspace.
So what?
Silver and gold are both crashing, silver dropping into the high 14 dollar range and gold barely holding 1150 today.
People are dumping the stuff as fast as they can and that is why the price is falling.
I imagine Gold will stabilize around 700 before it’s next downward trend and silver about 11.
Buy as much as you can now and sell it when it hits those lows, you’ll miss a big tax write off if you don’t.
Funny!
People are buying p.m because they believe they can barter with them after the collapse and when the economy begins to recover they believe that the p.m they have will bring them great wealth.
They are wrong, the next economic system will require you take an oath of allegiance to enter the new world order. That is where all of this is heading and the blood shed will be unbearable. History has shown, anytime an old order,style of government is overthrown, it usually is a time of great stress and uncertainty. Uncertainty of where the next meal will come from and safety.
B.O. has already said the old order is dead. That is why we have a dark skin president. Anyone who questioned him would be considered a racist.
It is not going to get better, best be thinking how to live day to day. Can’t eat precious metals, regardless of what you believe. Food, ammo, weapons, medication(all types) and clean water will be the barter items, if any at all during the crash. If you cannot resupply because the supermarkets are closed, then what? Then your garden gets raided? Then your stuff gets destroyed in a tornado, earthquake, flood, hurricane?
No, more to think about than the price of silver coins.
Just my opinion……..
Raiding a garden during SHTF is likely to be a VERY hazardous job. They used to hang horse thieves and not because horses were so high in cost but because a man deprived of his horse in dangerous country could die because of it. This will be no different.
During the Great Depression it became customary to keep a box of 12 gauge shells loaded with rock salt.
Even in that era, normal people had an aversion to shooting children with anything but rock salt.
Tread lightly, I heard one farmer who caught a bunch of little kids red handed, while mom kept the engine running. He confronted her and she said flat out, I’ll call the police and claim you are a child molester if you touch any of them! He called the sherif who wasn’t interested in arresting children for petty theft!
Enough gold coins hidden on your person, to bribe a check point guard is only prudent. In the NWO gold will still have great value and be untraceable!
Don’t matter to me to pay 3+ dollars premium for gold eagles. Not so long ago, anything below $20 silver was something you were encouraged to second-mortgage your home for…and that’s happening now WITH the premium. Face it. PMs are gonna skyrocket eventually…so I don’t care if I’m saving 30cents/oz here or there. It’s all relative to the killing whoever owns PMs will make once the SHTF.
Gold And Silver Are Paper-Slammed – Is The System Collapsing?
ht tp://www.activistpost.com/2015/07/gold-and-silver-are-paper-slammed-is.html#more
If they were/are paper slammed it is because they were artificially paper inflated to start with.
Real value is what you can buy and sell the real stuff for, and that is currently far below the artificial prices before this correction.
I wonder if we actually think about the value and utility of PMs.
What do you think the future utility of precious is?
Are you holding out for hyperinflation and a huge spike in price to make you rich? You will only be getting devalued FRNs in return that will buy little.
Are you holding out for the “collapse” of the currency and will hold real money?
Neither scenario will be to your benefit. Only 1 or 2 percent of the people actually recognize precious as money. In a collapse they will only recognize the face value of any coin…precious or clad.
I don’t think I will convince anyone not to waste money on PMs…but there it is.
Perhaps you could convince me. I’ve been thinking about this for a few years and I do have a bunch of useless metal lost in the lake until I get the salvage fees to recover it.
Just as beauty is in the eyes of the beholder…..
PMs are only worth what people accept .
When (not if) currency is digitized , there is a good chance that anyone under 40 may not accept metal as value.
Just sayin , we are living in a different time and things change so fast now , I cant say PMs are gonna be accepted , even in a collapse situation .
Different mindset .
Straight barter for goods/service will always work .
I wonder if we actually think about the value and utility of PMs.
What do you think the future utility of precious is?
Very confusing, JRS. Who says you would not just buy your gas or bread for a silver dime or quarter? And the FRNs you get will be accordingly higher in hyper (or more likely, mass, inflation. Remember the rule of 72). That is the whole point of buying PMs. If the dollar drops 100x, the price of your PMs rises the same amount. Your post does not make sense.
And 1 or 2% will recognize a silver coin vs. a clad coin? Really? Do me a favour: Look at the side of the clad coin. Drop a clad coin vs. a silver coin on a counter, and listen to what you hear. Moreover, when it comes to staying alive, people will get really smart really fast. Finally, no one is saying there will be a catastrophic collapse necessarily. Maybe it will just be an Argentinian style meltdown. Google Fernando Aguirre’s website Surviving Argentian and you will find out just how PMs did in that kind of meltdown. Maybe it will just be Jimmy Carter stagflation again, where gold skyrocketed – except this time, there is no ammunition to do a Volcker again. without killing the patient.
Yes, we may have an EMP and go back to gathering berries and hunting mastadons. In that case, I suspect PMs will still have value, just as they always have throughout all of recorded history, but I agree beans and bullets might be a first priority. But if it “just” an Argentinian style meltdown, you will be glad you had your PMs.
You are welcome to do whatever you wish. Personally, I think not diversifying and assuming only a worst case scenario is extremely foolish (wonder what an ounce of silver will go for under the new Greek drachma! But I can tell you this: in the early 1970s, a gallon of gas sold for ROUGHLY a silver quarter and dime. Today, is ROUGHLY around the same. I expect it to be the same 10 or 50 years from now.
“Only 1 or 2 percent of the people actually recognize precious as money.”
True. But hunger WILL teach them some bitter lessons along those lines. When paper is worthless, silver and gold will be able to buy things. So will trade goods. Best to have some of each, IMO.
Have been reading this site for quite some time, every day. does anyone read old articles from years ago? same old crap, “by the end of the year……..” going to delete the shortcut to this site and actually live my life as a “normal” person from today on. me thinks the people running this site are pulling some serious bank off all the fear articles.
JRS,metals like gold silver used for 1000’s of years as coinage,thus,survive to other side might be ahead of the game.Otherwise,tis just a inflation hedge in your hands(you have possession,right?).The loaf of bread a OZ of silver buys today will be the same if prices sky rocket with inflation,tis all.
The Chinese remelt all the PM’s they buy/mine then put their mark on it. Let him be Warchild he will be hunting for a snorkel soon enough.
More from the leftist police state: Woman arrested, jailed for **not renewing dog license***
A western Michigan woman heads to court Tuesday after being arrested for failing to renew her dog’s license. Becky Rehr says she drove to the Kalamazoo County sheriff’s office June 23 to prove that she’s recently renewed the license for the family’s 11-year-old dog, Dexter. Rehr’s 14-year-old daughter waited in the car as her mother was arrested, fingerprinted and held for three hours, The Kalamazoo Gazette said.
“They frisked me and put me in this intake cell with all these inmates in orange jumpsuits,” Rehr said.
http://detroit.cbslocal.com/2015/07/06/michigan-woman-frisked-jailed-for-not-renewing-dog-license/
This is one reason why I hope police like Sgt Dale stay as long as possible in their posts. We NEED them there!
It is crap like this that will build huge resentment in a lot of people that will not end well for the police. Hate to see that happen but it’s just human nature, so ignoring that is just asking for trouble.
I suppose the next step in this is to kidnap her child because she was left alone in the car for 3 hours! Grrr…
PMs are a hedge against inflation. Price is good for buying. Silver can triple in value. Gold not so much.
My husband just got this emailfrom his supplier:
Hello,
Just wanted to let everyone know that we are currently suspending Silver Eagle sales until further notice. We are expecting a 3-4 week delay and higher premiums when they resume. We will be passing along info as we get it. Please use caution in this very volatile market. Other silver products are sure to see premium increases as well.
Thank you,
Mylon Bowen
Southland Coins & Collectibles, Inc.
PMs have their place but the bottom line is you can’t eat them. I have some but my preference is to buy long term food and items that give me the ability to obtain pure water. Anyway, as far as metals go I’m more partial to copper and lead. I’d much rather purchase them when I find a good price than gold or silver.
We all have to make the choices and balance our resources as we see fit. But please… don’t complain that gold and silver are not edible. MANY of the things that we all have and depend on are not edible. They are valuable to us nonetheless and we do not get rid of them because they cannot be eaten. So are gold and silver. A good comprehensive prepping plan is one that covers many possible scenarios, including long-term inflation, which is something from which PMs can protect our wealth. There is no doubt that food, water, and water collection / purification are critical preps that all of us should have in our balanced plan.
First of all, it WASN’T a complaint. I couldn’t care less what you do! I was stating MY opinion, as we all do here! I’m certainly not against acquiring PM’s, however, when it all goes down, I will not be selling any of my food or water for any amount of precious metals, because……THEY CAN’T BE EATEN!!! And I don’t expect society as we once knew it to be returning at all. I fully expect a cashless society and mark to rise from the ashes, rendering PM’s pretty much useless. You can try to make the argument for a black market and to that I will say good luck trusting someone at that time. There is also Ezekiel 7:19, which even if it happened in the past, can and will, certainly happen again.
Bailout push included threat of martial law
ht tp://www.wnd.com/2008/10/77860/
wonder if we’ll escape the imposition of martial law
with the next financial “crisis” ???
I wonder if the average American knows how very close we came???
The average American knows jack. Sports, movies, celebs, videos, and of course lots of i-crap. THAT is what the average American knows. They tend to know much more about Kim Whatshername’s booty than they do about starting a fire without matches or a lighter, making a water filter, raising a garden, or the value of having some silver coins. Remember… these are the very same people who do nothing when told that a hurricane or tornado is coming right at them. Then, at the last possible moment, they rush out to the stores and clean off the shelves. This is how they “prep”.
Worse yet are the ninnies who don’t prep at all, have no extra food or water at home, and stagger around after the hurricane or tornado passes with that deer-in-the-headlights look, wailing “Why won’t anybody help us?”. The toll on these people is going to be very very high when the SHTF.
move to Greece. I here its pretty slick!
Was that slick or sick?
This Autumn is going to be crazy.
Crazier?
Normalcy Bias!
Ampex is still selling them this morning @ $3.56 over spot.
When OPEC wants oil prices to go up what do they do ?
Yes i stack silver but i have learned that when zero headge is screaming blue murder it is not the right time to buy and they are just trying to off load risk because they stored up too much silver at a high prices and are getting scared.
Big Jim Says
“Silver can triple in value. Gold not so much”
Well Jim, as you know silver can also half in price and it “can” go a lot lower on the paper price
I am not saying people should not buy silver (anything but bitcoin) but don’t fall for the “we are all going to be rich” stories that come out every day.
The mint ran out of its current stock of eagles, not silver.
A new run will be available reasonably soon and they will be easy to get again from the mint.
As for silver, there is a huge abundance of it and no one is buying it which is why the physical price is dropping severely as sellers have to accept lower and lower price bids for what they are trying to sell in order to induce anyone to buy it.
Sell everything you’ve got now, buy it back when it goes below 11 -but watch it closely since it may go below 7- and increase the size of your holdings.
Same with gold, nobody wants it at this price which is why sellers have to keep lowering their price to get rid of it.
Go to any coin store and you’ll find them with as much available as you want to buy, there is no shortage of either metal.
I bought 200 ounces yesterday when it went below $15.
If you have savings or other paper assets you should invest in Water, Food and meds first. If you have dollars left I would buy silver and gold to hold for the long haul. Do not go in debt to buy silver or gold.
If we all get vaporized it will not matter and you will have time to adore your gold before the flash.
When you can sayn”I have enough.” Is when you achieve true wealth. The insecurities and fears can ruin a man as sure as greed can.