I originally tweeted this out last night but wanted
re-print the post for my readers that aren’t using twitter.
(Reuters) - The United States Mint said on Wednesday it has enough American
Eagle gold and silver bullion coins to meet demand and does not expect to
allocate them in early 2012.
Sales of the U.S. gold and silver bullion coins have
slowed in the fourth quarter as precious metals prices retreated from record
highs, bucking a trend earlier this year when investors flocked to physical
gold and silver as safe havens.
"As we plan on having sufficient quantities of
all coins available, we do not anticipate having to allocate the initial
release," U.S. Mint spokesman Michael White said in a note.
The Mint had allocated its sales of gold and silver
Eagle bullion coins to its authorized dealers in the last several years as
unprecedented demand and a lack of coin blanks led to depletion of its
White said on Wednesday the Mint's recent supply was
adequate to meet demand and allocation to dealers was no longer necessary.
Silver Eagles December sales were around 2 million
ounces, sharply below its record of 6.4 million ounces set in January -- the
highest monthly sales since the start of the American Eagle bullion coins in
Gold Eagles sales were at 65,000 ounces, about 20
percent below its monthly average this year, the Mint's data shows.
Bullion coins are mostly sold to investors, while
the Mint also produces proof and uncirculated coins targeting collectors
My only thought on reading this was that it
contradicts some outlets that indicate that supply is tight. In any event,
for physical silver holders, lower prices if you want to accumulate are what
you want. When I feel the price is right, I too will start to accumulate the
real stuff. For now, we sit, watch and let the world events play out while
continuing to “trade” the paper vehicles.