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U.S. Mint Bullion Coin Sales Dip As Buyers Take Advantage Of Secondary Market
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Thread: U.S. Mint Bullion Coin Sales Dip As Buyers Take Advantage Of Secondary Market

  1. #1
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    Default U.S. Mint Bullion Coin Sales Dip As Buyers Take Advantage Of Secondary Market

    Clint Siegner | Tuesday, October 3rd

    The U.S. Mint is on track for the lowest sales of American Eagle coins in almost a decade. The 2008 financial crisis began a historic ramp up in sales that lasted for years. 20,583,000 silver American Eagles sold that year, more than double the 2007 total of 9,028,036 coins.

    In all but one year thereafter the Mint set a new record. Sales peaked in 2015 at 47,000,000 Silver Eagle coins Ė 5 times the number sold before the world discovered just how rickety the global financial system actually is.

    Memories are short, however, and investor complacency is setting in.

    Sales to date in 2017 are just short of 16 million coins and are set to finish the year very close to the 2008 totals.

    U.S. Mint sales are viewed as a proxy for bullion sales in the broader market. There isnít much else available in the way of published data. However, Mint statistics donít tell the whole story.

    While retail buying activity is still stronger than retail selling, weíve seen a meaningful increase in customer selling of coins, rounds, and bars over the past year. A lot of the American Eagles traded today are therefore resale coins which donít show up in the Mintís reporting of new minting activity.

    http://silverseek.com/article/us-min...y-market-16882
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  2. #2
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    If you had any question as to what happened to Ringling Brothers main man, read this article.

    "While retail buying activity is still stronger than retail selling, weíve seen a meaningful increase in customer selling of coins, rounds, and bars over the past year. A lot of the American Eagles traded today are therefore resale coins which donít show up in the Mintís reporting of new minting activity."


    Yes they have and it shows up in the deals offered by the dealers needing income to keep the doors open. Dealers don't offer any deals unless they have to, well most of them do not!!! They do offer deals when and only when sales have gone to hell for months on end and that's the only way they can get customers into their showrooms and web sites.

    And yes we have seen some of the lowest premiums we have seen in decades for some items and the lowest I've ever seen for some others. Government rounds are the exception but not entirely as there has been a couple dealers that have consistently sold them at premiums barely over the prices sold to them by the government, but still way above what generic premiums have been selling at. Some of the dealers have been selling second hand government rounds at well below the going price for a new round as specials from time to time, while some others have been trying to push off culled government rounds for nearly the same premiums as other have been selling good government rounds. Of course a lot of people have no idea what a culled round might be, but the premium sure sounds great.

    US coins have hit rock bottom for a product that is "no longer available at any price", well apparently they seemed to have found their way back into the market in greater abundance than what dealers imagined would ever be let go, in their wildest dreams that is. Now selling for premiums that go back to the day's of old when they were plentiful. I still believe they have never dried up, just a con that all dealers have stuck to as a selling point to justify unjustifiable premiums.

    Don't just count on the US Mint sales figures, you have to take into consideration the vast number of second hand ASE's that people are buying that is driving up the real total of ASE sales no matter what the year stamp is... No we don't take into consideration the huge number of ASE's sold by investors, that's not in our formula, only the positive side of everything as we see fit. One customer sells and one customer buys his, that's a quantity to add to the US Mint total for a real yearly investment total, hummm.

    "Premiums could go even lower if retail demand does not increase despite the renewed bull market in precious metals that began in late 2015."

    New Silver rounds for less than 40Ę each and "used" products for as little as "zero" over spot on occasion. 100 ounce bars selling for premiums less than they sold for 20 years ago and you only have to buy a single bar to get these deals.

    Second hand products have to be the most profitable products any dealer can sell, if they have the buyers. Most dealers will pay well under the spot price for any generic Silver product and turn it around to sell for over the spot price and make a larger profit than they can make on a new product of like kind. Even second hand ASE's will go for just below the premium of a new one and yet many dealers will only offer the spot price for an ASE as if it was next to junk.

    It really pays to shop around before selling and don't believe everything you see at web pages about what they will pay for any given item versus the spot price. Call and ask what they will pay today for x number and find out, you may be in for a huge surprise. Some are honest and many are not with their listed buy back prices.

    I'd like to know what justifies this so called bull market that began two years ago, am I missing something and following the wrong KITCO spot price or what???

    Are we in a bull market because the spot price is no longer under $14 an ounce???

    "More investors should be buying safe-haven assets rather than selling."

    Is there ever a time to sell your precious metals and is there "ever a time to not be buying more in the minds of someone that sells this stuff to pay his mortgage"?

    I have to at least give this guy credit for not being a looney with what he has to say, BS yes, but he's not off the deep end.
    Last edited by valerb; 3rd October 2017 at 21:45.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

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