What is the actual reason why the US mint isn't producing more Silver Eagles? The mint actually generates revenue for the government by selling bullion yet they seem reluctant to do so.
The US mint claims that they are unable to buy blanks from sunshine mint for above spot price and that's why they aren't producing more silver eagles, BUT this sounds like ABSOLUTE BULLSHIT, nothing is preventing the US mint from making their own blanks.
The actual reason seems political, very political. Maybe the gov't sees silver and gold bullion as a threat against it's worthless paper fiat? They rob us of our wealth through inflation and taxation.
The US mint is fully retarded They make shit that no one wants or buys and refuse to make silver eagles or morgan and peace dollars.
Women are also retarded and black women are the most retarded.
Jacob Howard
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Joseph Robinson
bc you pay 600 billion interest yearly on debt hombre thats why, and the cut they make is minimal. do the math, the spread of silver oz to coin price and than you have production, logistic, storage costs.
They legally are unable to pay above spot. Spot only applies to paper so none will sell physical for spot.
Ayden Kelly
they mint millions of silver eagles a year supposedly they aren't getting anymore blanchards (blank coins) for the rest of the year. They get most of the silver from sunshine minting haven't heard if they have a supply issue highly doubt it... just keep stacking silver for weight the eagle premiums are a joke
David Reed
Silver should be over $1,000 an ounce now. Call me a kike, but it will never attain true value and since CBDCs are on the way its probably not a good investment. Everything is rigged in this world.
Easton Gomez
Yeah, the central bank has turned us into debt slaves. Nevertheless, the mint makes money producing and selling silver eagles.
Again, they can produce their own blanks, in fact, they're legally supposed to. They're also supposed to produce enough silver eagles to meet demand.
Gabriel Peterson
>United States mint >Can't make its own blank rounds
????
Jose Gomez
this also they can only charge material and labor cost
Jack Kelly
Sunshine produces blanks for other national mints too but only the US mint is having this issue.
Asher Lopez
When have they produced their own blanks? They've bought from sunshine as far as I'm aware. And yes they are legally obligated to make enough to meet demand
Isaac Ramirez
You're still buying eagles? Are you buying other sovereigns and generic rounds too or only/mostly eagles?
Jack Carter
Yes. Silver eagles are a total ripoff directed towards boomers perpetuated by the meme that you don't have to pay capital gains tax on them (but you actually do)
Nathan Cooper
I don't think they ever have but legally they're supposed to. They claim that buying from a private US mint is "close enough"
Aiden Lewis
They're obligated to buy at spot. But no one is willing to sell at spot.
Joshua Perez
I have enough eagles I got before 2022 insanity. I like generics, krugs, roos, and brits not in that order.
>What is the actual reason why the US mint isn't producing more Silver Eagles? In 31 U.S. Code § 5116(a)(3) states in part, “The Secretary shall pay not more than the average world price for the gold.” 31 U.S. Code § 5116(b)(2) states in part, “The Secretary shall not pay more than the average world price for silver under any circumstances. As used in this paragraph, the term ‘average world price’ means the priced determined by a widely recognized commodity exchange at the time the silver is obtained by the Secretary.” numismaticnews.net/us-coins/u-s-mint-boxed-in-by-legislation
Oliver Anderson
Allegedly, they can't rig something forever.
Nicholas Moore
So buying above spot for blanks would "break the rules" But not meeting demand or not making their own blanks, which are also in the law, is somehow fine? They can break two rules as long as they abide by this one rule? There is more to this story
Jayden Cox
research the Exchange Stabilization Fund. Rob Kirby said they have over $100 trillion to keep the metal prices down.
Joshua Sanders
>Are the high premiums on silver eagles preventing you from buying them? They are now at $12 over spot. I bought a bunch a year and a half ago when they were $5 over. The funny thing is they were $34 then and now due to spot. Principles, though, fuck paying $12 over. Supposedly the wholesalers are selling them for $10 so the bullion dealers aren't making shit off of them. They were wholesaling for $6 to $8 over this time last year. The wholesalers are obviously filthy kikes if all that's true.
Luis Russell
Interesting, thank you for sharing.
Daniel Hughes
Erm, COMEX sells at spot?
Christian Nguyen
yes, ofc you are correct, but its so insignificant that it doesnt actually matter if they do sell or not from a financial standpoint. they would need to bump up machinery and staff to increase the output xx, this would be huge upfront and huge additional running cost with minimal margin product. this is really even less than peanuts overall. they (us mint) made 3,8billion revenue and 68million profit in 2021. 68million is exactly the united states interest expense of 1 HOUR. 1. one. uno. einer. this is nuts but it is what it is. usmint.gov/wordpress/wp-content/uploads/2021/12/2021-US-Mint-Annual-Report.pdf
John Gomez
The wholesalers can't get enough to meet demand thus the $12 premium. Apmex gets them directly from the mint at like $3-4 over spot but the mint isn't giving them enough to meet their demand so apmex still has to go to wholesalers and pay the much higher premium.
Legally, the US mint is supposed to produce enough eagles to meet demand and they aren't
John Thomas
comex sells 1,000oz bars, not 1oz blanks. They also get angry if you want physical delivery.
Christopher Young
i mainly buy gold, but for silver, i stick with generic 1 oz rounds and generic 10 ounce bars if jmb has them on sale. ounces are ounces. t. 550 ag oz stacklet
