Worldwide Silver Shortage Pushes Premiums to 40% on Silver Eagles [goldstockbull]

COMEX silver prices once again dipped below $23 today. My previous article entitled Ignore COMEX Pricing – Silver Eagles Sold Out at Dealers, $33 on Ebay detailed just how divorced from reality the COMEX price has become. So with another dip today, I decided to try to get my hands on some more silver coins. I realized before I picked up the phone that it would be difficult, but I have a few dealers in Colorado and California that have consistently been able to find supply at reasonable premiums.

Not anymore. The first phone call that I made was to one of the largest bullion dealers in Southern California, where I have bought a good deal of my physical gold and silver over the past decade. In fact, I had just bought several rolls of silver eagle coins from them last month at around $2.65 over spot price per ounce. I also purchased some for a family member back in January and paid the same premium.

In the past when some analysts were talking about a supply shortage and rising premiums, I was always able to find supply from this particular shop with a reasonable premium that was never more than 10% over the spot price. But today I was told that I could only order for future delivery at some point in late May or June and that the premium was $5 over the spot price.

In just the past few weeks the premium has nearly DOUBLED, despite the silver price dropping sharply and investor sentiment supposedly at multi-year lows. The manager of the shop told me the silver shortage was worldwide and it was more difficult than ever to secure supply and keep up with demand.

 

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Physical Gold & Silver Shortages Are Accelerating PREMIUMS EXPLODING

Gold and Silver shortages are increasing. However the current spot for paper silver is around $23USD. However, PREMIUMS are at $10 or higher per coin.

The paper market price and the physical price are starting to decouple. This is going to be fun to watch.

Hang onto your physical if you have any as this circus is just getting started. These are ebay links. My coin shop in my town does not have any of these coins available at the moment.

Couple links….

http://www.ebay.com/itm/2013-1-Oz-Silver-American-Eagle-1-Coin-SKU27334-/130877240044?pt=Bullion_US&hash=item1e78e432ec

http://www.ebay.com/itm/2011-Canada-5-Maple-Leaf-1oz-9999-Fine-Silver-Coin-UNC-/330906492012?pt=Bullion_US&hash=item4d0b905c6c

 

Article: Why the Western Banking Cartel’s Gold and Silver Price Slam Will Backfire – And How You Can Protect Yourself from the Blowback
“…
For all intents and purposes, the spot price is equivalent to the fake banker engineered price that cavorts across the ticker on your television everyday. But go to a dealer and try to buy at that ticker price and you will discover that it is a delusional fake price that no dealer is willing to kindly grant you. Instead, when I checked prices on 1-troy ounce American Eagle coins on Apmex last week, there was a 5.8% premium on gold coins and when the spot silver price had fallen to $22.99 an ounce earlier in Asia last week, Apmex was still listing their 1-oz American Eagles at $29.01, a whopping 26.2% higher than the spot price. Only a complete buffoon of economics, like Paul Krugman and his zombie followers, would ever believe that the price of real silver was $22.99 at any point and time last week.”

http://www.zerohedge.com/contributed/2013-04-22/why-western-banking-cartel%E2%80%99s-gold-and-silver-price-slam-will-backfire-and-how

Precious metals CEO: Physical silver market is “ugly”

“Last week, we turned away business in excess of 100,000 ounces because of stock depletion…”

By now, everyone has speculated on what caused the great precious waterfall which started on April 12 and continued for the next four days.

 
Read more at http://investmentwatchblog.com/physical-gold-silver-shortages-are-accelerating-premiums-exploding/#5D6BJe2GB081al8k.99

US Mint Sells Most Coins Ever In First 4 Months [goldsilverworlds]

The buying frenzy in the physical market continues. One of the leading indicators, at least for retail and part of wholesale investors, is the US Mint. We have been reporting updates on a regular basis: Q1 2013 US Silver Eagle Sales Beats All Records , US Mint Sold Exceptionally High In January & February and in other articles.

Time for another update. While April has not been completed, with a bit more than a week to go, the sales reports again beat all previous years. We have created the following overview which shows the sales of the US Mint gold and silver coins year-to-date (except for 2013 which is not complete).

US mint april2013 gold silver general

 

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The Truth Rises – Coordinated Strikes Work Both Ways – May 1st 2013

Silver Update 4/16/13 Force Majeure

RCM Rationing 2013 Silver Maple Leaf Bullion Coins [coinupdate]

Amidst a surge in demand, the Royal Canadian Mint has started rationing 2013 Silver Maple Leaf bullion coins at the primary distributor level. This follows the news earlier this month that the United States Mint had temporarily sold out of their 2013-dated silver bullion coins after receiving orders for more than 6 million coins and would begin rationing supplies as soon as sales resume.

Less information is known about the silver bullion coin situation in Canada, as the RCM does not publicly report sales levels outside of their required financial filings. A representative for the Mint did confirm that coins are currently being allocated.

Alex Reeves, Senior Manager of Communications at the Royal Canadian Mint provided the following statement:

Due to very high demand for SML coins, we are carefully managing supply to ensure all our distributors are served and we continue to take orders.  We do not disclose details of any customer transaction and specific 2013 numbers will be made available at our regular reporting intervals later in the year.

 

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US Mint Out Of Silver Coins – Suspends Sales [zerohedge]

As we noted earlier this month, the demand for both gold and silver ‘physical’ coins has been record-breaking as 2013 began. So much so, that now after selling over 6 million silver coins in 2013 so far, the US Mint has run out of silver eagles and has suspended sales. Furthermore, the Mint is saying that it will not restart sales until January 28th! With all asunder proclaiming victory and crisis averted based on the nominal price of stocks at five-year highs, Swiss interest rates no longer negative, and Spanish bond yields at 5%, it seems there are still a few that demand the wealth-preserving safe-haven of hard assets as the escalation of the currency wars shows no sign of abating.

 

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