US Mint Suspends Sale of Gold Coins!

[Space Varmint]

Dern it! It was at an all time low too. Missed out on that investment. Guess they can't suppress it any more. Hope this wasn't too outlandish. I think of ****-chat like the coffee pot. What do most talk about. Why news of course.

If it is, please except my apology. Sincerely.

 

[Sceadwian]

That's pretty disturbing. The idea that it is becoming difficult for citizens to accrue true wealth in the form of gold or silver rather than on government issued paper is a sign of a very unstable economy.

 

[0x00x0]

Not only gold but silver as well as I understand it has been suspended. And you cannot even buy it at spot price - look at www.apmex.com or search ebay for silver bullion. You are going to pay a very heavy premium over spot price for it. Did you know there is less refined silver than there is refined gold? Silver is actually scarcer than gold above ground. Silver is consumed in industry whereas gold is not (not nearly as much).

There comes a time when the average citizen will not be able to even FIND silver to buy..

3 silver dimes (ones made prior to 1965) used to buy a gallon of gasoline. Today, those same 3 dimes (because of their 90% silver content) will also buy you a gallon of gasoline if you sell them at the going rate (12.5 times face value)..

Now is a GREAT time to buy it, it is in its seasonal summer lows..

Look at these sites for silver and gold:

www.apmex.com
www.bulliondirect.com
ebay gold
ebay silver

When buying on ebay just pay attention to the feedback, there are some honorable sellers and also a fair amount of schisty sellers..

 

[Pommie]

I thought that if I bought a futures contract to buy gold then if I didn't sell it (the contract) before it matured then the gold would be delivered, just the same as if I bought a contract for pork bellies. Are you saying that the futures market has somehow stopped working?

Mike.

 

[AllVol]

Not only gold but silver as well as I understand it has been suspended. And you cannot even buy it at spot price - look at www.apmex.com or search ebay for silver bullion. You are going to pay a very heavy premium over spot price for it. Did you know there is less refined silver than there is refined gold? Silver is actually scarcer than gold above ground. Silver is consumed in industry whereas gold is not (not nearly as much).

There comes a time when the average citizen will not be able to even FIND silver to buy..

3 silver dimes (ones made prior to 1965) used to buy a gallon of gasoline. Today, those same 3 dimes (because of their 90% silver content) will also buy you a gallon of gasoline if you sell them at the going rate (12.5 times face value)..

Now is a GREAT time to buy it, it is in its seasonal summer lows..

Look at these sites for silver and gold:

www.apmex.com
www.bulliondirect.com
ebay gold
ebay silver

When buying on ebay just pay attention to the feedback, there are some honorable sellers and also a fair amount of schisty sellers..

Following you advice, I checked out the linked sites only to find out the above report is apparently an exaggeration of the truth.

Apparently, the US Mint has suspended sales of its 2007 10 oz Gold Bullion coin to dealers. But guess who just happens to have plenty of them for sale.... right, the folks that first broke the news.

The US Mint web site is silent on the matter.

 

[Sceadwian]

Not so scary then.

 

[AllVol]

Not so scary then.

Right. According to the linked sites, gold is selling at about $800 per ounce, down more than $100 per ounce from just a couple of months ago, when it was at an all time high.

This apparently is just a market manipulation among those who speculate and profit in such matters.

 

[Space Varmint]

Right. According to the linked sites, gold is selling at about $800 per ounce, down more than $100 per ounce from just a couple of months ago, when it was at an all time high.

This apparently is just a market manipulation among those who speculate and profit in such matters.

That's how it was last week. They just announced last Friday evening that it has been suspended. I did not know about the silver though. I did hear that dealers are having trouble filling the orders for Silver Eagles due to availability.

Even Junk Silver. I think I'm gonna hit some pawn shops before they find out.

 

[Space Varmint]

Following you advice, I checked out the linked sites only to find out the above report is apparently an exaggeration of the truth.

Apparently, the US Mint has suspended sales of its 2007 10 oz Gold Bullion coin to dealers. But guess who just happens to have plenty of them for sale.... right, the folks that first broke the news.

The US Mint web site is silent on the matter.

My primary source is Bob Chapman. Believe me. He knows what's up.

 

[TRexall]

I heard you could sell Electronic Junk Gold like old processors,gold pins,edge-connectors etc.and they pay you cash...is this true?

 

[Space Varmint]

I heard you could sell Electronic Junk Gold like old processors,gold pins,edge-connectors etc.and they pay you cash...is this true?

Could be. Funny I just got a spam Email saying.."We buy Gold".

I think we are going to see sky rocketing prices if you can even get it.

 

[Sceadwian]

Although it's there, the amount of gold is so little on electronics components that the base metal is worth many times more than the gold. It's not practical to recover gold on such a trace basis. Just as an example (I'm not doing the math) figure out what the surface area of a single standard .1 inch header is, and then calculate how much the gold weighs based on it's thickness. You probably transfered by weight a greater amount of skin cells the last time you scraped your finger.

 

[Mikebits]

I know an owner of an Industrial electronics surplus shop. They do salvage gold connectors, IC's etc. But were talking about huge quantities. Even then I doubt the cash back is all that much.

 

[Space Varmint]

I remember when people were stealing catalytic converters out of cars.

Anyway, looking down the road. Once you can't buy gold anymore or too pricey to consider, however the scenario plays out. What will we invest in? I mean the small investor? At the rate the paper dollar is diminishing, shouldn't be long before it bottoms out. Kinda like stuck holding the bag.

 

[0x00x0]

Following you advice, I checked out the linked sites only to find out the above report is apparently an exaggeration of the truth.

Apparently, the US Mint has suspended sales of its 2007 10 oz Gold Bullion coin to dealers. But guess who just happens to have plenty of them for sale.... right, the folks that first broke the news.

The US Mint web site is silent on the matter.

Look how much the mint is asking for a single ounce of silver.. $25.95 plus shipping.

My report is no exaggeration..

Gold Eagle (1 ounce of gold from us mint): $1,119.95

Ask yourself why they suspended sales to dealers.. There is a disconnection of the price for physical silver (the only kind you should buy), and the price for paper silver (and gold) such as futures contracts and ETF's. There is also a shortage of physical metal. Usually www.APMEX.com has plenty of 1 through 10 ounce bars and rounds. Now there are absolutely none..

And none of the folks who have silver will sell it to you for anything close to the "spot" price. Spot price reflects the price for paper silver only. Physical silver is going to cost several dollars per ounce over spot.

 

[0x00x0]

https://www.gata.org/node/6489

the above link is a great site to learn about this stuff..

 

[Pommie]

Dern it! It was at an all time low too.

How can you say it was at an all time low? Still looks close to an all time high to me.

**broken link removed**

Mike.

 

[mashersmasher]

that's what canadian maples are for guys. better quality then the best eagles on their best day and all in .999-.9999 gold. usually go for cheaper too

 

[kchriste]

Why mess around with coins? Buy some gold bars when the price comes down. Or futures as already mentioned.

 

[Space Varmint]

that's what canadian maples are for guys. better quality then the best eagles on their best day and all in .999-.9999 gold. usually go for cheaper too

Pommie, I didn't mean "all time" low. I meant the last year. It had broke a 1000
not too long ago.
But yeah, I forgot about that. I guess British Sovereigns are still available or Krugerrands too. Still that it is making a statement when the US mint declares they won't be making them anymore. Makes you wonder.