Royal Canadian Mint Now Saying It’s Difficult Securing Silver

[Twisted Titan]

Royal Canadian Mint Now Saying It’s Difficult Securing Silver

With continued reports of booming sales and tightness in the silver market, today King World News interviewed Dave Madge director of sales at the Royal Canadian Mint. When asked if the RCM is having trouble acquiring silver Madge responded, “Demand right now for silver is through the roof and it shows no signs of slowing at this point. Sourcing silver is becoming very difficult. We are competing with a great many players when it comes to purchasing silver and many of these players are bidding the price higher.”

Dave Madge of the Royal Canadian Mint continues:

“Our advantage is that we have had long-term relationships with our suppliers and that has helped us in this situation. We have been able to leverage off of those relationships to get supply, but it still remains a big challenge sourcing material. We’re looking at ways of mitigating our risk regarding supply of silver.

We are anticipating it to become even more difficult to secure supplies in the future. This is based on what we are seeing firsthand and what our suppliers are telling us. We work closely with these banks to secure silver and they tell us there is a lot of competition.”

When asked what this means for the price of silver and how long this condition is expected to persist Madge stated, “I think you are going to see the premiums go up in order to secure silver. At some point some players will be priced out of the market. I don’t think this is a short-term situation, I think there are a lot of issues going forward and this may be the new norm.”

The key here from Dave Madge is that he expects it to become even more difficult in the future to secure supplies of silver. In my mind this is an extremely important testimonial regarding how tight the silver market is because the information is coming directly from the Royal Canadian Mint itself.

The Royal Canadian Mint is known as a world-class provider of minted products and KWN is thankful to both the RCM and Dave Madge for this interview.

Eric King
KingWorldNews.com
http://kingworldnews.com/kingworldne...ng_Silver.html

[Ponce]

There is no real shortage of silver, for now, but for the fact that the countries themselves are now saving all the silver and gold that they can afford........can you blame them.......and at the same time they keep the PM away from the little people because later on they will not want conpetition from them.

[Twisted Titan]

I just spent 15 dollars to get 5 Mercury dimes today

60 buxx for 2 Peace Dollars

I was happy as hell to pay that price

We are Never gonna see 20 dollar silver again so better get use to the "new norm"


T

[skid]

There is no real shortage of silver, for now, but for the fact that the countries themselves are now saving all the silver and gold that they can afford........can you blame them.......and at the same time they keep the PM away from the little people because later on they will not want conpetition from them.


What the hell are you talking about? It takes months to find silver in quantity, and that is probably purchased directly from the miners. There is very little silver (relatively speaking) sitting on the shelf waiting to be sold.

[Bigjon]

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[bellevuebully]

Imo, that is a pretty reputable source.

[Ponce]

Skid? what the hell do I mean? simple, now days the bank are buying future production of mines......but, the government is doing the same...........to whom do you think the miners will sell first?, those silver coins made by the mint? from where do you think that they get it from? the banks?........

[chad]

there's zero shortage of consumer silver. rounds, trade bars, coins, etc.

there's a huge shortage of investment/industrial 1,000 ounce refiners bars.

when they talk about a "silver shortage," it means when they call around trying to find a pallet of 1,000 ounce bars, they can't find any.

the two are not interchangable.

it's like saying there's a "battery shortage" when you are trying to buy huge industrial batteries for a power station, but your local 711 has a whole row of AAs.

[keehah]

the two are not interchangable.

it's like saying there's a "battery shortage" when you are trying to buy huge industrial batteries for a power station, but your local 711 has a whole row of AAs.


I think you exaggerate. Its more like someone who uses a lot of batteries wants to save money with the big Costco box of AA, rather than buy the same battery in a package of 2 at 7-11 for a higher price.

If this supply and demand situation remains like this, then premiums for 100oz and smaller investment silver will rise further from spot price.

[Ponce]

Only when people learn that buying PM is a presevation of value and not an investment will the same go up higher and faster than what it is now.

Long ago I said that when the people take away the control of PM from the coat and ties will be when the price will go up .......... for sure.

[Neuro]

the two are not interchangable.

it's like saying there's a "battery shortage" when you are trying to buy huge industrial batteries for a power station, but your local 711 has a whole row of AAs.


I think you exaggerate. Its more like someone who uses a lot of batteries wants to save money with the big Costco box of AA, rather than buy the same battery in a package of 2 at 7-11 for a higher price.
If this supply and demand situation remains like this, then premiums for 100oz and smaller investment silver will rise further from spot price.
oh definitely you need big silver to make small silver... And you can't make rounds out of SLV shares!

[Santa]

A lot of the little guys who bought at $10 or $15 are selling for a nice profit,
although they may find themselves priced out of buying back during the typical summer doldrums
this time.

The big boys are loading up now.

[Twisted Titan]

Anybody that is trying to play the arbitrage with physicall silver has balls of Titanium.

Cause once counterparty risk have finally made it into the lexicon of the sheep.

That are going to be screaming bloody murder.

If you want to play .........you had best do it with paper silver.


T

[keehah]

Royal Canadian Mint sees silver sales climb 30 percent in 2011 (http://www.vancouversun.com/business/Royal+Canadian+Mint+sees+silver+sales+climb+percen t+2011/5430275/story.html#ixzz1Ybm8rFWS)
BY JAN HARVEY, REUTERS SEPTEMBER 20, 2011

The Royal Canadian Mint is on track to raise sales of its silver bullion coins by around 30 percent to 25 million ounces this year and to match last year's record gold sales of around 1 million ounces, an executive from the Mint said.

Speaking on the sidelines of the London Bullion Market Association annual conference, John Moore, executive director of bullion and refinery services at the Mint, told Reuters investors believed silver had more room to rise than gold.

"In terms of our sales this year, year to date we're tracking to the same volumes as we had last year in gold, which were record volumes for us. heading toward a million ounces," he said.

"In silver, we are 30 percent ahead of where we were last year," he said. "We finished last year with 18 million ounces of silver (sales). We are looking at increasing those sales by about 30 percent to the end of this year, to around 25 million ounces."

While silver sales have been strong, very few scrap coins are being returned to the market despite a rally in silver prices to record highs near $50 an ounce in late April.

The metal dropped sharply from that high, however, falling by around a third in just six sessions after its record high, unsettling some investors.

"Analysts are still calling for silver to follow gold and go back up to $50," Moore said. "If you believe gold is going to $2,000, you will probably believe that silver will follow it and go to $50."

Moore said an increase to 25 million ounces of annual output would put the Mint toward the high end of its capacity. Increasing output capacity would be considered if demand continues to rise, he said.

The Royal Canadian Mint refines and produces Maple Leaf bullion coins, gold kilo bars, trade bars and gold wafers, as well as one-ounce silver, platinum and palladium coins.

[Awoke]

I was just at the mint a few weeks ago for atour, and they have no shortage of silver and gold.

They have rolls and rolls of the stuff, stockpiled and ready for stamping.

[undgrd]

I was just at the mint a few weeks ago for atour, and they have no shortage of silver and gold.

They have rolls and rolls of the stuff, stockpiled and ready for stamping.

Did you touch it? Could have been a cardboard cutout of silver.
;D

[Large Sarge]

so royal canadian mint is doing 25 million ounces this year, U.S. mint is doing 46 million ounces...

total mined silver is 730 million ounces (going off memory)

but you have these 2 mints doing roughly 10% of total silver production, and it is all investment demand.

thats big news.

[mick silver]

A lot of the little guys who bought at $10 or $15 are selling for a nice profit,
although they may find themselves priced out of buying back during the typical summer doldrums
this time.

The big boys are loading up now.

thats me but i am not saling nothing at theys low prices

[Serpo]

Did you touch it? Could have been a cardboard cutout of silver.
;D


From paper silver to cardboard silver in one easy step.