Gold News: US Mint Runs Out Of Silver

Yesterday in gold news, the US Mint notified “authorized purchasers” (only in quotes because it sounds weird) that it is has run out of silver coins.  “…[D]ue to recent increased demand”, they say.  To these old, grizzled Gold Enthusiast ears, that just sounds wrong.  For several reasons.

Number one: Isn’t silver gold’s poor cousin?  Aren’t the only people who buy silver coins the kind of folk who stash them under mattresses and bury them in the backyard? Or those who haven’t stepped up to trading “real” investments yet?

Well, if so, then there are a lot of folks like that out there.  Just a few months ago – beginning of summer if the brain recalls correctly – reports were that silver coins sales were down.  Now they’ve blown up to where all the silver coins are gone? As they say in Texas – What The Toothpicks?

It might not be too hard to figure out.  Silver is now down at prices we haven’t seen since 2015.  And as any rational consumer is aware, prices for everything have gone nowhere but UP.  People are even getting STOOPID MONEY for things like rusty old pickup trucks. So why not take advantage of this drop and buy valuable things now?  Especially things that are easily recognized and valued, for later buying/selling/trading/bartering later when the price of silver goes back up?

Honestly, your friendly Gold Enthusiast, grizzled as he is, looks for such things to help decipher the market.  Precious metals all disappearing when prices are low are a sure sign we’re close to a bottom. Now this doesn’t mean to run out and throw your inheritance from Aunt Gertrude at it, not quite yet.  But certainly not a bad time to buy, oh, 20% of your total desired position size – assuming you’re talking about thousands or 10’s of thousands of dollars’ worth.

As for this Gold Enthusiast – well, read the disclaimer to find out.  Gotta satisfy the legal and ethical obligations. Which in this case are more ethical than legal.

Y’all have a great weekend!  Remember that the cure for low prices is nothing other than low prices.

Signed, The Gold Enthusiast

DISCLAIMER: The author holds no position in SLV or other direct-silver investment such as futures or options. There many be a miner or two in the portfolio that has secondary returns in silver, and if so the position size is small.

What the author does have that bears reporting is a very small box of several rolls of old silver coins, stashed in safekeeping at a local bank.  Just in case either (a) silver pops up so high that it’s worth selling, or (b) it looks the stuff is heading for the fan, and having such could help in bartering. (There, that oughta do it – have a great weekend!)

 Related: Who is China Selling its Gold To? The Truth Will Surprise You! 

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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