U.S. Mint Sold Out of Gold & Silver Coins

From Birch Gold Group

U.S. Mint sold out of gold and silver coins

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: U.S. Mint can’t keep pace with demand again, Goldman chief calls silver a supercharged version of gold, and amateur prospector unearths a long-lost golden treasure from Medieval times.

U.S. Mint runs out of gold and silver coins

Just when we’d hoped the U.S. Mint might’ve worked its way through the pandemic-driven backlog of gold and silver coins, a new surge in demand worsened supply shortages. Last year, the U.S. Mint saw a 258% increase in purchase of gold coins and a 28% increase in silver coins, with heavy buying continuing into 2021. They probably didn’t plan for what happened next…

On the heels of Reddit’s wallstreetbets triumphant (if brief) GameStop frenzy, the day traders searched for a new target. Some have settled on silver. Amid claims that silver’s price should be closer to $1,000 than $25, day traders have flocked to both gold and silver. This made the ongoing supply crunch even worse.

While silver’s price is still trading around $27, the supply dynamics tell a different tale. The U.S. Mint sold 220,500 American Eagle gold bullion coins in January 2021, a staggering 290% year-on-year increase from last January. It’s not just unexpected demand that’s causing problems, though.

As noted by a retailer of precious metals coins, “There was going to be a backlog in the silver bullion supply chain that rendered silver eagles more scarce either way.” This is because the U.S. Mint is currently changing designs for its American Eagle gold and silver coins, expected to debut this summer. Once available, the U.S. Mint will ration distribution of gold, silver and platinum coins to dealers due to heavy demand.

On the other side of the equation, the U.S. Mint itself has run into problems securing a sufficient number of precious metals blanks for minting into coins, as well as capacity issues in its manufacturing plants.

What does this do the price of available products? Any available silver coins and bars are sold at significantly higher markups over spot price.

Many retailers are simply turning new customers away. Those accepting backorders anticipate months-long delays.

Jeff Currie: Silver’s use in solar panels makes it a turbo-charged form of gold

Gold might have seemed like the breakout investment last year to many, but Goldman Sachs’ Jeff Currie thinks silver could wind up outperforming the top performer. Currie explained that silver has plenty more to it than affordability in contrast to gold.

While both metals enjoy similar investment allure, silver has a unique industrial component that could come into special prominence as the bid for green energy strengthens. President Joe Biden’s push for renewable energy has placed the manufacturing component in center stage, with trillions of dollars of stimulus being geared towards a green-friendly infrastructure.

Combined with the U.N.’s own calls for sustainable energy, Currie postulates that silver’s use in solar panels makes the metal a better investment compared to its pricier cousin in the current climate.

Elaborating on silver’s use past a shield from currency debasement, Currie said that “you get that added boost that a lot of that spending … is going to be green [capital expenditures]. That green capex goes into solar panels and then silver is the biggest benefactor.”

While gold remains teetering near its previous all-time high, the squeeze around silver appears to grow tighter by the day. This is especially so as the metal is generally not a primary target as opposed to gold, but rather a byproduct of mining other ore, making silver a tough find on all fronts.

Amateur treasure hunter locates Henry VIII’s $2.7 million missing crown headpiece

The slew of valuable prospecting finds on English soil continue, as shown by the recent discovery of Henry VIII’s missing crown centerpiece, valued at $2.7 million. Using his metal detector, car restorer and amateur prospector Kevin Duckett stumbled upon what looked to be a piece of foil in rural English fields in 2017.

A dig deeper revealed that the find was not only a chunk of gold, but one of incredible  historical value. Duckett was prospecting near the site of the Battle of Naseby, which hosted a turning point in the nation’s history where Oliver Cromwell’s anti-royalists clashed with Henry VI’s royalist forces, and won decisively.

Finding a missing crown piece would make most prospectors satisfied, but Duckett looked deeper into his excavation. He held onto the missing piece of the crown until last year, when he made the connection to Henry VIII after watching a YouTube documentary on the crown.

Noticing the missing piece, Duckett made the trip to Hampton Court Palace to find a replica of his find, and concluded he had indeed made one of the most remarkable amateur archaeological discoveries of the last decade.

He promptly reached out to the British Museum in London to offer the figurine for evaluation, and theories soon abounded as to how and why the piece was found by an enthusiast from Northamptonshire. Although accounts vary, it appears that Henry VI made it out of the clash safely, but somehow missing the ornamental piece atop his crown. The figure is representative of a centuries-long struggle between monarchs, with some even placing a sort of divine claim on Tudors’ right to reign.

While the find has renewed debates as to what exactly transpired during tumultuous 17th century England, both Duckett and the landowner will likely receive some proceeds of the $2.7 million sale to a museum should the piece prove to be authentic.

With global tensions spiking, thousands of Americans are moving their IRA or 401(k) into an IRA backed by physical gold. Now, thanks to a little-known IRS Tax Law, you can too. Learn how with a free info kit on gold from Birch Gold Group. It reveals how physical precious metals can protect your savings, and how to open a Gold IRA. Click here to get your free Info Kit on Gold.

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ordo ab chao
ordo ab chao

In case you swing by here, Mark….is this just ‘good business’, or an “in-your-face” from TLPTB

https://www.jmbullion.com/silver/silver-rounds/egyptian-gods-silver-rounds/

annuit coeptis novus ordo seclorum <—-=====

Ghost

comment image

I think it is “in your face” nonsense.

mark
mark

Yea…they love the in your face Georgia Guidestones announcements.

SmallerGovNow

“Combined with the U.N.’s own calls for sustainable energy, Currie postulates that silver’s use in solar panels makes the metal a better investment compared to its pricier cousin in the current climate.”

Here’s the future of solar…

https://www.zerohedge.com/technology/achtung-baby-its-cold-outside-germanys-green-energy-fail-rescued-coal-and-gas

Ahahahaha… CO2 is plant food! Chip

GNL
GNL

I’ve heard this a few times over the years now, doesn’t seem to affect the price.

Anonymous
Anonymous

Makes a lot of sense. Lets all buy gold and silver thru the US mint so when the metals, especially gold are outlawed and taken, as done by FDR ,then they already have the names and info on the people that made any purchase. Be sure to have your name listed.

Anonymous
Anonymous

The smart way to do it is through secondary markets and coin shops. New coins from the US Mint carry a high premium. They don’t ask your name and you can pay in cash.

mark
mark

Plenty of dealers who turn nothing into the government, been using them since the early 80’s.

ROOSEVLT’S GOLD?

Author: Don Stott | Publish Date: 08/26/2019

“Well, suppose they confiscate my gold just like Roosevelt did 75 years ago?” If I have heard that once, I must have heard it a hundred times. Did Roosevelt confiscate everyone’s gold back in 1933? If he did, how come there’s still a lot of it for sale in a thousand coin shops and numismatic dealers?

Let’s start at the beginning and see what really did happen. The first thing we must remember, is that America was in the midst of a severe depression, caused by loose money issued by the Federal Reserve, which they still are doing. There was such an enormous amount of “liquidity” floating around, as today, that everyone was buying stocks on margin of over 90% at times, which is not happening today. The stock market was on everyone’s lips and minds. Bootblacks and janitors were buying stocks. Stocks would supposedly go up forever, and there was no risk. Ha Ha. The market crumbled and crashed, leaving everyone out on the well known limb, owing for stocks which often times weren’t worth not much more than the paper on which they were printed. The result was that in fairly quick order, over 25% of the American work force was on the street selling apples, on the dole, or in bad shape in one way or another. Times were tough, to make it sound kind!

Roosevelt wanted to pull America out of the depression. He thought up all sorts of make-work schemes, and anything to put people to work. But he didn’t have any money. Remember, unlike now, the dollar was BACKED BY GOLD. He therefore needed all the gold he could get, so he could print more dollars to spend in placing more people in those make-work jobs. Everyone knew that gold and dollars were synonymous. Americans were carrying gold coins in their pockets just like they were money, which they were. Small, dime size gold coins were a dollar, and there were $5, $10 (Eagles) and $20 (double Eagles) coins in general circulation everywhere. Gold was money, dollars were money, and the two were the same. How could FDR get gold, so he could print more dollars to spend, to get us out of the depression?

He also had the farmers on his neck. They wanted higher prices for their crops, and there wasn’t any money around to give to them. On March 9th, 1933, FDR declared a “Bank Holiday,” with all the banks closed. Bank “runs” had posed another problem for the “New Deal,” as Roosevelt called his massive move towards abject socialism. People were closing their savings accounts and bouncing checks by the millions, just to survive in some cases. Today, we have millions of credit cards maxed out for the same reason. There was no FDIC then, so no savings account was insured. (Today, the FDIC has less than a nickel in its accounts for every $100 worth of insurance). Banks had made huge margin loans on now worthless stocks, and they had no money to pay for savings account closures. FDR allowed they could close for a ‘holiday,” so they could get their troops in order. Many didn’t, and never re-opened again. My Parents lost money in a bank which never re-opened.

Banks were in deep trouble. People were demanding their money, and the banks didn’t have any. There was no FDIC, and dollars were backed by gold. The treasury had to have gold to print more dollars to make everyone happy, banks whole, and to fund make-work projects. What to do? Get some gold! How? The mines were producing all they could, but more was needed. More dollars were needed for stuff that didn’t help get us out of the depression at all. Nothing Roosevelt did, got us out of the depression, or even help a bit. As a final effort, he outraged the Japanese enough that they bombed Pearl Harbor, and we were at war. The depression was over.

Roosevelt had the brilliant idea that he would order everyone to turn in their gold in exchange for paper dollars, which were backed by gold. On April 5, 1933, Roosevelt issued Executive Order # 6012, which ordered Americans to surrender their gold to the government by May 1st, 1933. Violations were to be subjected to a $1,000 fine and as much as ten years in prison. First of all, an Executive Order is not in the Constitution, and an Executive Order could never levy a $1,000 fine or ten years in the slammer! But Americans were broke, miserable, and that $20 gold piece they had squirreled away would buy a lot of food, with bread at less than a dime a loaf. Those who couldn’t afford to hold their gold, turned theirs in and received brand new paper dollars for their gold.

The gold allowed more dollars to be printed, which were foolishly used for nutty things, and none were of help in fighting the depression. A couple of days later, on May 7th, FDR had one of his “Fireside Chats” over radio, to soothe the American outrage. He said that if Americans continued to ‘hoard’ gold, there wouldn’t be any left, and therefore in the interest of fairness, government should own all of it, and use it wisely. Ever hear of such claptrap? Gold markets have existed for thousands of years, and gold has endlessly changed hands around the world! Smugglers and black markets in gold have flourished in times of war, peace, or dictatorships. FDR also persuaded Congress to wipe out the gold clause in existing contracts, which specified payments to be made in gold. In a Joint Resolution of June 5, 1933, all gold payments in existing contracts were made null and void. Even Congress, stupidly went along.

On January 31, 1934, Roosevelt signed into law the “Gold Reserve Act,” which set the gold price at $35 per ounce, as opposed to the former $20.67 In other words, he had stolen hundreds of millions of dollars from Americans by raising the price of gold by about 70%! What in reality he had done, was to lower the value of the dollar by 70%, in relation to gold. It is estimated that Roosevelt hauled in $7 billion worth of gold from submissive Americans, and still the depression kept right on going.. My Dad was a corner druggist in Washington D.C. for 36 years, and I grew up in that drug store. I’ll always remember those days as being educational, and lots of fun. I can still hear my Dad calling Eleanor Roosevelt “Old Horseface,” and bellowing about Roosevelt, calling him every name in the book. He hated the Roosevelts, as did all businessmen, and anyone with a farthing of sense.

Did Roosevelt’s Executive Order # 6012 “seize” everyone’s gold? No! How could anyone know who had it? Gold coins have no serial numbers, and practically everyone had them. Could government seize socket wrench sets if it passed a law saying that everyone had to turn theirs in? Could government ever know how many people had bought socket wrenches from hardware stores, auto supply stores, Sears Roebuck, Montgomery Ward, et al? Socket wrenches have no serial numbers, and they certainly don’t have to be ‘registered’ when you buy a set. Both have uses, and both may be about the same size I suppose. Those who didn’t need the dollars, undoubtedly said to themselves, “Me? Give you my gold? “Hell no!” Those who were living at the edge of starvation, having lost their jobs, having lost their savings in closed banks, and seen their stocks go to virtual zero, naturally gave their gold to the government in exchange for bread money. No one was ever fined, and no one ever went to jail for an Executive Order which could never have been enforced. There are actual laws against prostitution and drugs, but they flourish on a daily basis. Hookers and drugs have no serial numbers either, and aren’t registered like car titles, real estate deeds or stocks.

How could government “seize” your gold, when no one knows you have it? Registered guns have possibilities for seizure, because of their registration, but when they come to get yours, as I am certain they will, you “had it stolen,” “sold it at a yard sale,” or “gave it away,” hopefully. No gold coin is “registered,” and no gold coin has serial numbers other than the Credit Suisse 1 oz gold bars. A decade ago, in Silverton, Colorado, a miner was accused of stealing gold from a mine, after lots of it was found under his bed. It went to court, and Henry Kolego’s lawyer asked the prosecution if the supposed stolen gold looked different if it came from one mine or another? “No.’ Does the supposedly stolen gold have serial numbers for identification? “NO.” Henry K. went free. Did he steal it? Probably, but it was totally un-provable.

Can anyone from the government, seize your gold like Roosevelt did? How could they? Gold is not radio-active, so a Geiger Counter wouldn’t work. “Well, they’ll check your supplier or seize your records.” If you had gold at one time, how could anyone prove you still had it if you had given it away, sold it, or had it stolen? Like registered guns, if you please. The thought of government going through a million court cases, violating the Fourth Amendment, trying to “seize” your hoard of Krugerrands, borders on the insane and, at least is laughable. As a refresher, the Fourth Amendment says in part, “The right of the people to be secure in their persons, houses, papers and effects, against unreasonable searches and seizures shall not be violated.” Is it illegal for you to purchase gold or silver? No. Is it illegal for you to own them? No. Ever hear of the legal term “ex post facto law?” Just forget the “seizure” nonsense, and protect yourself.

Note: Don said:
“Roosevelt wanted to pull America out of the depression. He thought up all sorts of make-work schemes, and anything to put people to work. But he didn’t have any money”.

I take issue with that, FDR was just another FED sock puppet, and proof how stupid too many Americans can be, but the rest of the article is worth the time.

Au, Gee
Au, Gee

Keep shining your lights of truth on the dark ignorance of the less experieced maroons, MM.
Rave on, brother.
Rave on.

ordo ab chao
ordo ab chao

Gotta chuckle just a bit, Mark. I sort of expected a similar detailed account referencing an Egyptian god or another….lol.

It was a very good secular explanation….but I’m so deep down the rabbit hole I think I’m in another dimension.

[FDR was just another FED sock puppet, and proof how stupid too many Americans can be]

Kind words indeed, for the nefarious plan he played such a critical part in, IMHO anyway. I can see foundational reasons to put belief in the ‘advance knowledge’ conspiracy. FDR the freemason (and Wallace) instrumental in the motto/emblem/prophecy finding its’ way on to the dollar bill-the fiat soon to become the petro at Bretton Woods just after the second war that Albert Pike wrote about. (?)

“One perspective is given by Rear Admiral Frank Edmund Beatty Jr., who at the time of the Pearl Harbor attack was an aide to the Secretary of the Navy Frank Knox and was very close to President Franklin D. Roosevelt’s inner circle, remarked that:

“Prior to December 7, it was evident even to me… that we were pushing Japan into a corner. I believed that it was the desire of President Roosevelt, and Prime Minister Churchill that we get into the war, as they felt the Allies could not win without us and all our efforts to cause the Germans to declare war on us failed; the conditions we imposed upon Japan—to get out of China, for example—were so severe that we knew that nation could not accept them. We were forcing her so severely that we could have known that she would react toward the United States. All her preparations in a military way — and we knew their over-all import — pointed that way.[26]””

https://en.wikipedia.org/wiki/Pearl_Harbor_advance-knowledge_conspiracy_theory

It’s been quite awhile since I listened to this, but will again soon.

https://www.youtube.com/watch?v=GOmJyvpcKaI&feature=emb_logo

annuit coepts novus ordo seclorum <<—–====

What these characters believed in are real entities, as we both know. And wasn't it Eleanor that Hillary conferred with?

The father of all lies……..and look how easily (pick a politician) his servants follow suit-they take to lyin' like a duck to water…

mark
mark

ordo ab chao,

As far as FDR, past the point of my reply on the Gold confiscation warning bell somebody brings up regularly (hmmm…wonder what happened to gman? He would bring it up once a month before his first well-earned TBP sabbatical) I am positive FDR knew what was coming at Pearl Harbor, wanted it, pushed for it, and sacrificed those sleeping sailors on the altar of another Luciferin Bankster Racket.

I use the blanket ‘Luciferian’ term a lot…because to me it covers the tip of the pyramid and the all Seeing Eye completely in a single word…an eye that one day soon God is going to stick his pinky fingernail into and blind forever.

This is good on FDR (who no doubt has his own little dark corner of hell all to himself) and a bigger picture on him, and his multifaceted betrayal.

HOW ROOSEVELT SOLD US TO THE HIGHER BIDDER: THE FEDERAL RESERVE

Yea, Hillary has earned her own little dark eternal corner one day soon…as well will Slick Willie.

I wish that on no one…I just embrace my own salvation and the reason why.

BUCKED/BUY MORE AMMO/BOURBON TOO
BUCKED/BUY MORE AMMO/BOURBON TOO

If you invested in Platinum this past year…you killed it !

Ghost

What is the premium on silver rounds, 500 oz.

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