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The U.S. Mint Ran Out of Silver Eagle Coins – After Only 10 Days!

By Mike Fuljenz –  

The U.S. Mint told authorized dealers that the 2013 American Silver Eagle bullion coins were sold out within just 10 days of first going on sale, January 7, 2013.  On January 7, authorized purchasers placed orders for 3,937,000 of the 2013 one-ounce Silver Eagles, worth approximately $125 million at current silver prices.  Total Eagle sales quickly topped six million ounces before the Mint halted sales.  Now, the premiums are rising on the 2013 Silver Eagles.  This is indicative of the extreme demand for precious metals, coins, guns and ammo after last November’s election. My fellow Texans often refer to gold, silver and lead as the trinity of precious metals.

Before launching the 2013 Silver Eagle coin on January 7, the Mint unexpectedly sold out of the 2012-dated coins early, on December 17, 2012. And now, the Mint has said that they will be distributed under an “allocation process” (i.e., rationing). Since 2008, the Mint has rationed Silver Eagle bullion coins from time to time.

Since President Obama first took office on January 20, 2009, many commodities have doubled, including gold, silver and crude oil.  If these commodities grow by the same percentage rates in President Obama’s second term, we could see $3,400 gold, $90 silver and $235-per-barrel oil four years from now.

January 20, 2009         January 20, 2013         Gain                            January 20, 2017*

Gold    $835                            $1,685                         +101.8%                      $3,400 per ounce

Silver   $11.32                         $31.94                         +182.2%                      $90.12 per ounce

Oil       $38.74                         $95.56                         +146.7%                      $235.70 per barrel

*The January 20, 2017 prices represent projected gains based on the same percentage gains already seen in Obama’s first term.

Canadian Mint Rations Silver Coin Sales

First the U.S. Mint runs out of silver and abruptly suspends silver American Eagle sales, warning that when production resumes, the silver coins will be “allocated,” which means rationed.

That was last week.  This week the Royal Canadian Mint announced it is rationing sales of silver Maple Leaf coins. Global physical silver demand seems to be seeing a strong surge recently.

Is something big afoot in the silver trade?

About The Author

Known as America's Gold Expert, First Fidelity Reserve Numismatic Consultant, Mike Fuljenz has won more than 50 prestigious national and regional awards for his consumer education and protection work in rare coins and precious metals. His books, media appearances and newsletters about gold and rare coins have won Best of the Year awards from the Numismatic Literary Guild and the Press Club of Southeast Texas, and he received the NLG's coveted top honor in 2013, "The Clemy Award." Mike Fuljenz is a frequent expert guest on local and national business and personal finance programs, such as Fox Business Network and CNBC, and has been quoted in The Wall Street Journal, Kiplinger's, Los Angeles Times and other broadcast, print and online news media. A respected community leader in his hometown of Beaumont, Texas, Fuljenz is a Past President of the Diocese of Beaumont Catholic School Board and received the Catholic Charities Humanitarian Award. He has served with distinction as a consultant to the Federal Trade Commission, U.S. Postal Service, General Services Administration, United States Mint and Royal Canadian Mint, and is on the Boards of Directors of both Crime Stoppers of Beaumont and the influential Industry Council For Tangible Assets.

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Comments (9)

  1. A. M. Deist says:

    With tens of millions of Americans making poverty wages, the likelihood is that deflation is going to occur in the next few years. If that happens, commodity prices will fall, as will gold and other precious metals. Global growth has kept the industrial metal prices flat, and unless we either see global growth pick up or another major war, it is unlikely that gold will gain much from its current price, and may even fall in price..

  2. American ex-Pat says:

    If they are able to walk and talk on a free cell phone then they are most likely able to work, plus how about a quarterly drug test, just like the rest of the working world?

  3. m. finneran says:

    if i needed public assistance and was able bodied i would feel obligated to community service. i would thank god that i lived in a country where its citizens contributed to my well being. in return, i would look forward to making their world a better place. picking up litter in my neighborhood, delivering meals on wheels to those even less fortunate than me,etc. any little payback i could provide. i believe that this outlook on life is the reason i do not need public assistance in the first place.

  4. Arthur Orofino says:

    Well this is my comment take it for what its worth, leave the disabled alone but STOP THE POLITICIANS from DIPPING into the JAR for there special interest projects and leaving worthless IOU”s in there place.PUT A LOCK ON THAT ACCOUNT as it belongs to we that have put it there.IT is my understanding President Clinton took $2.5 TRILLION from the account to balance the FEDERAL BUDGET with another WORTHLESS IOU in its place.OUR account was one of the BEST interest making of the all TOTAL Government Departments meant for our RETIREMENT so WASHINGTON KEEP YOUR DAM HANDS OFF !!!!!!!!!!!!!!!.
    ARTHUR A. OROFINO

  5. DENNIS MADISON says:

    ALL ABLE BODIED RECPIENTS OF GOV’T ASSISTANCE SHOULD HAVE TO DO SOME TYPE OF COMMUNITY SERVICE, CITY, COUNTY, OR STATE AND THEY SHOULD ALL BE DRUG TESTED ANNUALLY.

    IF I HAVE TO BE DRUG TESTED TO BE EMPLOYED AND I SHARE IN THE PMT OF THE IR GOV’T ASSTANCE, THEN SO SHOULD THEY BE TESTED.

  6. PaulE says:

    The reason for the price escalation of both gold and silver, along with most hard commodities, over the last four years has been the incredibly easy monetary policy of the Federal Reserve and the economic instability injected into the marketplace by Obama’s policies. In short, systemic tampering with the value fo the dollar, via the Fed, to create an artificial asset bubble coupled with massive fear injected into the economy by Obama’s socialist policies.

    The Fed has forced interest rates to essentially zero and has stated that it intends to keep them there until either 2015 or the unemployment rate drops to 6.5 percent. Given the feeble rate of job creation, largely due to regressive economic policies from the White House, no one expects unemployment to drop to 6.5 percent until probably 2017 or 2018. This has forced money into stocks, non U.S. government bonds, and various hard assets.

    Federal Reserve monetary easing is having less and less effect on the markets the longer it continues, so it is unrealistic to expect we’ll see the kind of price appreciation you’re projecting in the next four years solely from continued actions from the Federal Reserve.

    What would likely have a larger effect on the value of the dollar and subsequently on the value of hard assets, would be the ruinous policies of Obama in his second term. If he can continue his spending spree (he calls it “investment”) largely unchecked, which would mean we would be borrowing more and more money from foreign countries and the Federal Reserve simply printing new money, then I could see the value of all dollar denominated assets (gold, silver, oil, etc.) going up in value as the underlying value of the dollar continues to shrink on the world markets.

    I still however would find your January 2017 prices overly optimistic. Oil at over $200 a barrel would mean that the United States would be pushed into a massive recession, which in turn would lead to a price collapse of the price of oil on world markets. Actually oil at a price above $150 would trigger a U.S. recession and oil price collapse.

    Gold and silver projections would also seem to be optimistic. If you’re inferring that the short-term silver shortage of the U.S. Mint somehow implies something long-term, I would expect to see some equivalent price action on silver futures exchange. Granted the market price for silver may not be reflecting it’s true value, it appears from everything I’ve read that the CFTC considers everything to be just fine. So I would expect we maybe get another 20 to 30 percent bump in gold and silver over the next four years. Not the triple digit gains you’re projecting. Still gold and silver should be part of one’s portfolio.

  7. PaulE says:

    The reason for the price escalation of both gold and silver, along with most hard commodities, over the last four years has been the incredibly easy monetary policy of the Federal Reserve and the economic instability injected into the marketplace by Obama’s policies. In short, systemic tampering with the value fo the dollar, via the Fed, to create an artificial asset bubble coupled with massive fear injected into the economy by Obama’s socialist policies.

    The Fed has forced interest rates to essentially zero and has stated that it intends to keep them there until either 2015 or the unemployment rate drops to 6.5 percent. Given the feeble rate of job creation, largely due to regressive economic policies from the White House, no one expects unemployment to drop to 6.5 percent until probably 2017 or 2018. This has forced money into stocks, non U.S. government bonds, and various hard assets.

    Federal Reserve monetary easing is having less and less effect on the markets the longer it continues, so it is unrealistic to expect we’ll see the kind of price appreciation you’re projecting in the next four years solely from continued actions from the Federal Reserve.

    What would likely have a larger effect on the value of the dollar and subsequently on the value of hard assets, would be the ruinous policies of Obama in his second term. If he can continue his spending spree (he calls it “investment”) largely unchecked, which would mean we would be borrowing more and more money from foreign countries and the Federal Reserve simply printing new money, then I could see the value of all dollar denominated assets (gold, silver, oil, etc.) going up in value as the underlying value of the dollar continues to shrink on the world markets.

    I still however would find your January 2017 prices overly optimistic. Oil at over $200 a barrel would mean that the United States would be pushed into a massive recession, which in turn would lead to a price collapse of the price of oil on world markets. Actually oil at a price above $150 would trigger a U.S. recession and oil price collapse.

    Gold and silver projections would also seem to be optimistic. If you’re inferring that the short-term silver shortage of the U.S. Mint somehow implies something long-term, I would expect to see some equivalent price action on silver futures exchange. Granted the market price for silver may not be reflecting it’s true value, it appears from everything I’ve read that the CFTC considers everything to be just fine. So I would expect we maybe get another 20 to 30 percent bump in gold and silver over the next four years. Not the triple digit gains you’re projecting.

  8. Rocky Susshine says:

    Member Poll: I voted No. For the reasion that. What if you’re physically and mentally disable and over 65yrs of age.

    As one may know. It was the type of work that caused the disability in the first place.

    I am not talking about obesity.

    • Earl Gordon says:

      Rocky, The survey said that “IF” one was able to work if a Dr. said he was able. In your case, it is evident that a Dr. would say you are not capable of work.

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