By Byron King | 02/13/13
Did you hear the U.S. Mint just ran out of silver? In mid-January, the Mint suspended sale of the 2013 run of its popular U.S. “Eagles.”
The new silver Eagles sold out fast. They went on sale, and buyers bought everything they could lay hands on. Within days, the shelves at the Mint were stripped bare. It’s not the first time that this has happened.
The Mint quickly announced that it’s obtaining new supplies of silver. It will stamp out more Eagle coins. There will be more to buy, or so they say. And yet… people in the silver markets are squirming — and I’ll tell you more about that, below.
Right now, silver sells for $31.50 per ounce, give or take. That’s if you can find somebody to sell you their silver at that price. If you’re a normal, everyday retail buyer, good luck trying.
Let’s say you want to buy some silver. You call up one of those companies that advertise on the radio and find out that there’s a markup to $40 or more for 1-ounce bullion coins. That’s if they have any to sell to the likes of you. After all, are you a big wheeler-dealer?
If you want the fancy versions of silver coins — “uncirculated” and “proof” specimens — the price is twice (or more) the posting for basic metal.
The bottom line is that silver is hard to get. You have to plan ahead to obtain the metal, and even the U.S. Mint gets its numbers wrong, now and again.
From what I’m seeing — and I’ll explain this, below — one of these days, the Mint might not simply resume sales so quickly. It won’t have the basic metal. And I suspect we’re going to see silver prices move much higher.
The Global Silver Shortage
First, let’s review the global scramble for silver. How much of a
problem is it? Well, it’s not just the U.S. Mint that has to worry about
supply. Industrial users are in a bind, as well. I mean big, important
companies.
Here’s an example. Last summer, I visited a storage vault dug deep
into solid rock and buried in the hills north of Zurich, Switzerland.
It’s a massive complex, right down the road from a Swiss Army base (and
that’s no accident). You can enter this facility only by prior
appointment, because the Swiss customs department has to do a background
check on you. The Swiss are very thorough, you may have heard.
The vault is constructed with huge steel beams and enclosed by thick,
reinforced concrete walls. Accompanied by an armed guard, you have to
walk down a long, sloping set of corridors and then take an elevator to
get to the deep levels. Heck, it’s like visiting a secure, military
command bunker — of which I’ve seen a few in the course of my life’s
journey. Finally, after a hike, you arrive at the business end of this
facility.
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Silver to become a rare earth metal , it is Extremely undervalued. Silver to become extinct by year 2020 according to geologists only 300 millions ounces left! Silver is consumable industry metal it is used up : 95% gold ever found is still around 75% of silver is a by-product of mining other metal only 25% is primary product of mining,In 1480 the price of one ounce of Silver was equal to one ounce of Gold, Low supply, high demand Price to skyrocket get your silver and stay long!
