collect SAEs or GAEs? better buy them now.

[chad]

http://goldandsilverblog.com/gold-and-silver-treasury-secretary-public-demand-0124/

i'm too lazy to paste the article. basically there's a bill pending (HR 6162) that would change:

mintage of mint coins from "in quantities sufficient to meet public demand"

to

"in quantities and qualities that the secretary determines are sufficient to meet public demand"

so, i guess this means they can decide 1 monster box year is enough if they want to.

[chad]

upon further research, i see both the house + senate have already passed this. all that is required for it to become law is for el douche to sign it.

[Plastic]

Perhaps they changed the wording so they can buy a butt-ton of silver from around the world and mint enough silver eagles for circulation, I know that shit aint true but what a lovely thought.

[Gaillo]

I don't think it matters WHAT legislation the do or don't pass... methinks they're going to hit a brick wall pretty soon ANYWAY trying to find enough silver blanks to mint anything! ;D

[vacuum]

SAE's might be a good investment...

[Twisted Titan]

SAE's ARE ALWAYS a good investment...

Fixxed it for ya.


T

[Spectrism]

Nothing to stop a private firm from stamping out attractive rounds of .999 silver or gold.

[madfranks]

http://goldandsilverblog.com/gold-and-silver-treasury-secretary-public-demand-0124/

i'm too lazy to paste the article. basically there's a bill pending (HR 6162) that would change:

mintage of mint coins from "in quantities sufficient to meet public demand"

to

"in quantities and qualities that the secretary determines are sufficient to meet public demand"

so, i guess this means they can decide 1 monster box year is enough if they want to.


What strikes me is that they're inserting the word "qualities" that was never there before. What a laugh if they start debasing the quality of the gold and silver. In a few years the silver eagle might be 40% silver like the old Kennedy halves and the gold eagle will be 14K. Ha ha!

[vacuum]

Nothing to stop a private firm from stamping out attractive rounds of .999 silver or gold.

But what are new investors in physical going to trust, when they are buying silver for the first time, SAEs are official coins and scarce, and there is widespread fear of fake coins? (It is highly likely tptb will create fake coin scandals to scare people away from physical)

[MAGNES]

I don't think it matters WHAT legislation the do or don't pass... methinks they're going to hit a brick wall pretty soon ANYWAY trying to find enough silver blanks to mint anything! ;D


http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?langId=-1&storeId=10001&catalogId=10001&identifier=1250

American Eagle Silver Uncirculated Coin

Production of United States Mint American Eagle Silver Uncirculated Coins continues to be temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Until recently, all available silver bullion blanks were being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”

Although the demand for precious metal coins remains high, the increase in supply of planchets—coupled with a lower demand for bullion orders in August and September—allowed the United States Mint to meet public demand and shift some capacity to produce numismatic versions of the American Eagle One Ounce Silver Proof Coin.

However, because of the continued demand for American Eagle Silver Bullion Coins, 2010-dated American Eagle Silver Uncirculated Coins will not be produced.

The United States Mint will resume production of American Eagle Silver Uncirculated Coins once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.

[osoab]

H.R.6162 (http://www.govtrack.us/congress/billtext.xpd?bill=h111-6162)

One Hundred Eleventh Congress

of the

United States of America

AT THE SECOND SESSION

Begun and held at the City of Washington on Tuesday,

the fifth day of January, two thousand and ten

An Act

To provide research and development authority for alternative coinage materials to the Secretary of the Treasury, increase congressional oversight over coin production, and ensure the continuity of certain numismatic items.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘Coin Modernization, Oversight, and Continuity Act of 2010’.

SEC. 2. AUTHORITY TO CONDUCT RESEARCH AND DEVELOPMENT ON ALL CIRCULATING COINS.

(a) In General- To accomplish the goals of this Act and the requirements of subchapter II of chapter 51 of title 31, United States Code, the Secretary of the Treasury may--

(1) conduct any appropriate testing of appropriate coinage metallic materials within or outside of the Department of the Treasury; and

(2) solicit input from or otherwise work in conjunction with entities within or outside of the Federal Government including independent research facilities or current or potential suppliers of the metallic material used in volume production of circulating coins,

to complete the report referred to in this Act and to develop and evaluate the use of new metallic materials.

(b) Factors to Be Considered- In the conduct of research, development, and the solicitation of input or work in conjunction with entities within and outside the Federal Government, and in reporting to the Congress with recommendations, as required by this Act, the Secretary of the Treasury shall consider the following:

(1) Factors relevant to the potential impact of any revisions to the composition of the material used in coin production on the current coinage material suppliers.

(2) Factors relevant to the ease of use and ability to co-circulate of new coinage materials, including the effect on vending machines and commercial coin processing equipment and making certain, to the greatest extent practicable, that any new coins work without interruption in existing coin acceptance equipment without modification.

(3) Such other factors that the Secretary of the Treasury, in consultation with merchants who would be affected by any change in the composition of circulating coins, vending machine and other coin acceptor manufacturers, vending machine owners and operators, transit officials, municipal parking officials, depository institutions, coin and currency handlers, armored-car operators, car wash operators, and American-owned manufacturers of commercial coin processing equipment, considers to be appropriate and in the public interest, after notice and opportunity for comment.

SEC. 3. BIENNIAL REPORT TO THE CONGRESS ON THE CURRENT STATUS OF COIN PRODUCTION COSTS AND ANALYSIS OF ALTERNATIVE CONTENT.

(a) Report Required- Before the end of the 2-year period beginning on the date of the enactment of this Act, and at 2-year intervals following the end of such period, the Secretary of the Treasury shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate analyzing production costs for each circulating coin, cost trends for such production, and possible new metallic materials or technologies for the production of circulating coins.

(b) Detailed Recommendations- In preparing and submitting the reports required under subsection (a), the Secretary of the Treasury shall include detailed recommendations for any appropriate changes to the metallic content of circulating coins in such a form that the recommendations could be enacted into law as appropriate.

(c) Improved Production Efficiency- In preparing and submitting the reports required under subsection (a), the Secretary of the Treasury shall include recommendations for changes in the methods of producing coins that would further reduce the costs to produce circulating coins, and include notes on the legislative changes that are necessary to achieve such goals.

(d) Minimizing Conversion Costs- In preparing and submitting the reports required under subsection (a), the Secretary of the Treasury, to the greatest extent possible, may not include any recommendation for new specifications for producing a circulating coin that would require any significant change to coin-accepting and coin-handling equipment to accommodate changes to all circulating coins simultaneously.

(e) Fraud Prevention- The reports required under this section shall make no recommendation for a specification change that would facilitate or allow the use of a coin with a lesser value produced, minted, or issued by another country, or the use of any token or other easily or regularly produced metal device of minimal value, in the place of a circulating coin produced by the Secretary.

(f) Rule of Construction- No provision of this Act shall be construed as requiring that additional research and development be conducted for any report under this Act but any such report shall include information on any such research and development during the period covered by the report.

SEC. 4. MEETING DEMAND FOR SILVER AND GOLD NUMISMATIC ITEMS.

Subsections (e) and (i) of section 5112 of title 31 (http://www.law.cornell.edu/uscode/html/uscode31/usc_sec_31_00005112----000-.html), United States Code are each amended by striking ‘quantities’ and inserting ‘qualities and quantities that the Secretary determines are’.

SEC. 5. TECHNICAL CORRECTIONS.

Section 5112(u)(1) of title 31, United States Code is amended--

(1) by striking ‘exact duplicates’ and inserting ‘likenesses’;

(2) by striking subparagraph (C);

(3) by redesignating subparagraphs (D) and (E) as subparagraphs (C) and (D), respectively; and

(4) in subparagraph (A), by striking ‘of 3.0 inches’ and inserting ‘determined by the Secretary that is no less than 2.5 inches and no greater than 3.0 inches’.

SEC. 6. BUDGETARY EFFECT.

The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled ‘Budgetary Effects of PAYGO Legislation’ for this Act, submitted for printing in the Congressional Record by the Chairman of the House Budget Committee, provided that such statement has been submitted prior to the vote on passage.
Speaker of the House of Representatives.

Vice President of the United States and

President of the Senate.

I am looking at the sub section and see how this references back to the qualities.

[osoab]

http://www.law.cornell.edu/uscode/html/uscode31/usc_sec_31_00005112----000-.html

sub section e

(e)
(e) Notwithstanding any other provision of law, the Secretary shall mint and issue, in quantities sufficient to meet public demand, coins which—
(1) are 40.6 millimeters in diameter and weigh 31.103 grams;
(2) contain .999 fine silver;
(3) have a design—
(A) symbolic of Liberty on the obverse side; and
(B) of an eagle on the reverse side;

subsection i

(i)
(1) Notwithstanding section 5111 (a)(1) of this title, the Secretary shall mint and issue the gold coins described in paragraphs (7), (8), (9), and (10) of subsection (a) of this section, in quantities sufficient to meet public demand, and such gold coins shall—
(A) have a design determined by the Secretary, except that the fifty dollar gold coin shall have—
(i) on the obverse side, a design symbolic of Liberty; and
(ii) on the reverse side, a design representing a family of eagles, with the male carrying an olive branch and flying above a nest containing a female eagle and hatchlings;
(B) have inscriptions of the denomination, the weight of the fine gold content, the year of minting or issuance, and the words “Liberty”, “In God We Trust”, “United States of America”, and “E Pluribus Unum”; and
(C) have reeded edges.
(2)
(A) The Secretary shall sell the coins minted under this subsection to the public at a price equal to the market value of the bullion at the time of sale, plus the cost of minting, marketing, and distributing such coins (including labor, materials, dies, use of machinery, and promotional and overhead expenses).
(B) The Secretary shall make bulk sales of the coins minted under this subsection at a reasonable discount.
(3) For purposes of section 5132 (a)(1) of this title, all coins minted under this subsection shall be considered to be numismatic items.
(4)
(A) Notwithstanding any other provision of law and subject to subparagraph (B), the Secretary of the Treasury may change the diameter, weight, or design of any coin minted under this subsection or the fineness of the gold in the alloy of any such coin if the Secretary determines that the specific diameter, weight, design, or fineness of gold which differs from that otherwise required by law is appropriate for such coin.
(B) The Secretary may not mint any coin with respect to which a determination has been made by the Secretary under subparagraph (A) before the end of the 30-day period beginning on the date a notice of such determination is published in the Federal Register.
(C) The Secretary may continue to mint and issue coins in accordance with the specifications contained in paragraphs (7), (8), (9), and (10) of subsection (a) and paragraph (1)(A) of this subsection at the same time the Secretary in minting and issuing other bullion and proof gold coins under this subsection in accordance with such program procedures and coin specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.


notice how subsection (i) has gold at the beginning and silver is listed as a property under subsection (e)

[Trinity]

Dam! I wished I would have bought some when I had the chance.

[ximmy]

Dam! I wished I would have bought some when I had the chance.


LOL...

[1970 silver art]

Dam! I wished I would have bought some when I had the chance.


Hey Trinity, how are those "precious" FRNs working out for you?

[Trinity]

Dam! I wished I would have bought some when I had the chance.


Hey Trinity, how are those "precious" FRNs working out for you?


I used them to buy treasury securities, pretty smart huh?

[1970 silver art]

Dam! I wished I would have bought some when I had the chance.


Hey Trinity, how are those "precious" FRNs working out for you?


I used them to buy treasury securities, pretty smart huh?


If you just ignore the out-of-control gov't deficit spending, the Fed's QE, the national debt, and the fact that the U.S. dollar is collapsing, then treasury securities are a pretty smart idea. :D

[Awoke]

PHYSICAL SILVER is always a good investment...

Fixxed it for ya.


T


And I fixed it for you!