Silver Shortage Not True
Hi ! We have herd all sorts of stories about a silver shortage. I have been investigating this for three months and now have the answer.
I received my magazine Numismatic News. Was I shocked. There is no above ground silver shortage. But that's what every dealer on t.v. and elsewhere will tell you. The government years ago put four statues tying the hands of the mint. I believe the mint has told the 18 bulk sellers to say there is a silver shortage.
With a glass and enlarging the article you will see the important four. One in particular. The Bill states that the mint can of buy silver a certain price over spot. Now we know about paper silver sold on Wall street.That has upped the spot almost 200%. The government will not lower this because the national debt is 30 trillion dollars.
The other three are basically the same. No silver in any form. Planchets or bars. They will not even lower it. So what happens coins like the Morgan and Peace dollar have already been cancelled. The Purple Heart they have no idea when they will be shipped. Remember this was a pre-sale. Not cheep either. Almost 100.00 for one the other one I think I sells for 72.00.
I see higher prices.Medals as you know are selling for 160.00. The choice of coins I believe will be limited.. There selling the Eagles made at different mints in sets of five from last year to this year. The end of last year. So as the heading says the government has tied the mints hands. I'm sorry you might not be able to read it but its there in black and white. I will try and get a better picture.
They can't buy bar silver and make there own planchets. How long will this go on? No one knows. So the factors are the four statues ,Wall street driving up the spot. This leeds to more counterfeiting as you read in the last one. Please enlarge the picture. Use a magnifying glass but its there. Please try and read this. It affects us all! Remember Eagles were 49.00 went to 69.00 today 89.00. Were will it stop?
Comments
Rebelfire76
Level 4
This is good information. Thanks for sharing Mike. Definitely gives a better perspective on why the mint can and can’t do certain things with precious metal coins, and in this case, meet the demand for silver coins. There’s silver to be bought, just not at the price the mint can afford.
slybluenote
Level 5
As usual Mike, you’ve posted great research ! Thanks for sharing this very informative news! Talk to ya soon buddy!
Kevin Leab
Level 4
Thanks for the informative blog Mike. I'm not a collector of Eagles but I have a few....so does Andrew in his collection. I remember when they first came out in 86 and you could buy them at the bank for around 20 bucks. I passed on them thinking they'll never be worth anything more than that.
Long Beard
Level 5
Where will it stop? When the mint finds the price some collectors will actually pay.
Mike
Level 7
When the government allows them to buy silver. And they will not lower the four statues. As long as the paper silver is pushing spot that high forget it.
"SUN"
Level 6
There are too many regulations
Mike
Level 7
Way to many. But they have a good point 30 trillion in debt! Thanks for the comment!!
It's Mokie
Level 6
Or maybe they will follow the Canadian Mint and put out a bunch of small mintage half and quarter ounce silver coins with weird denominations. Anything to keep the collectors on the hook.
AC coin$
Level 6
It was advised earlier during 2021 that Silver prize was going up and, that by February 2022 most markets were going to be dealing with higher demands of this precious metal. Excellent information, thanks for sharing it with us all.
Kepi
Level 6
Many thanks for your research on this subject! It's appreciated! ; )
Longstrider
Level 6
There it is in black and white. Thanks Legislatures. Mike what issue is this from and what page is it on. Thanks.🐍