US Mint SUSPENDS Sales of Silver coins due to low prices

[Large Sarge]

US Mint SUSPENDS Sales of America the Beautiful 5oz Silver Coins, Uncirculated Silver Eagles Due to Plummeting Prices

Apparently even the US Mint is unwilling to sell silver at COMEX paper pricing.
Can't let be letting the PHYZZ accumulators Stack the Smack now, can we?

RENO, NV -
The U.S. Mint has temporary suspended the sale of several silver collector coins and sets including the uncirculated American Silver Eagles and the American the Beautiful Five Ounce silver coins.

Plummeting silver prices prompted the Mint to initiate several product suspensions on Monday.


The 2011 American Eagle Silver Uncirculated coin debuted with 184,967 orders between its launch on September 15th and as of September 19th. However, the silver price plummeted on September 26th to $28.16 per ounce.
The pre-suspension price of the one ounce 2011 Uncirculated American Silver Eagles was $60.45. If the Mint chooses to change its product pricing, the new prices will probably be posted in the Federal Register before they go into effect.
Read more:

http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=136300&sn=Detail&pid=32

[keehah]

It is official now. Silver is undervalued.

[Sparky]

This, of course, doesn't make any sense. Unlike most bullion prices which fluctuate with silver spot price, the Mint sells these collector coins directly at a fixed price. They were priced at $60.45.

So, why the suspension? Since their pricing doesn't fluctuate with spot, they do not have the dealer risk of selling at some artificial paper price. They can choose to sell at the fixed price of $60, or they can simply lower it to some other fixed price that is still above spot, like maybe $50. It's not clear to me why they have to suspend sales.

Any suggestions?

[Twisted Titan]

The gubbermint subsidize a million fat cat programs but the one that can arm the people and preserve wealth is. quickly discontinued citing cost overuns.


if gubbermint was only that effecient and shrewd with everything else

[ximmy]

This article is false. US Mint has fixed pricing. They suspended sales to lower the price... they could simply let them remain for sale at extreme markups, or adjust the price down. It seems they are doing just that, using dinosaur methods.

[undgrd]

Sales are suspended because the remaining silver is going to be used to build cell phones for welfare recipients.
:D

[madfranks]

It seems like every other week I read a story about the mint suspending sales because they can't process fluctuations in spot price fast enough. Could you imagine if APMEX or Tulving had to shut down every time gold or silver made a significant move? Typical government agency incompetence.

[undgrd]

It seems like every other week I read a story about the mint suspending sales because they can't process fluctuations in spot price fast enough. Could you imagine if APMEX or Tulving had to shut down every time gold or silver made a significant move? Typical government agency incompetence.

Yeah thank god they don't shut down...their inventory just goes POOF!

[Sparky]

This article is false. US Mint has fixed pricing. They suspended sales to lower the price... they could simply let them remain for sale at extreme markups, or adjust the price down. It seems they are doing just that, using dinosaur methods.

Exactly what I said, doll face. Except you did it in half as many words. ;)

[ximmy]

Exactly what I said, doll face. Except you did it in half as many words. ;)

Nu-uh, yours was open ended, wavering, fickle... mine was a firm statement. ;D :p

[Gaillo]

if gubbermint was only that effecient and shrewd with everything else

Oh... they are. Their shrewdness and efficiency only LOOKS inefficient to those who don't understand what their true agenda is (destruction of U.S. sovereignty, industry, and wealth - followed by integration into world government).