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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 05/23/2008 : 16:34:04
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Losing a Mint: Curb on Coin Sales Angers Collectors
By Ianthe Jeanne Dugan
Excerpt
The government rationed food during World War II and gasoline in the 1970s. Now, it's imposing quotas on another precious commodity: 2008 dollar coins known as silver eagles.
The coins, each containing about an ounce of silver, have become so popular among investors seeking alternatives to stocks and real estate that the U.S. Mint can't make them fast enough. In March, the mint stopped taking orders for the bullion coins. Late last month, it began limiting how many coins its 13 authorized buyers world-wide are allowed to purchase.
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Why didn't we hear of a shortage of Silver Eagles minted in, say, 2007 or 2006? Why the sudden shortage? Is it because of collector demand, the increasing price of silver, or just a "bottleneck" in supply and demand, not enough coins for an eager coin buying crowd?
What about the silver Maple Leafs from Canada? Is there a shortage of those silver coins from our neighbor to the north?
Sorry this is only an excerpt of the story, I don't have a subscription to Wall Street Journal.
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 05/23/2008 : 18:08:09
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| A sign of bad times. I'm bugging out when the government starts rationing sugar, milk and butter. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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WheatieFan
Penny Pincher Member
USA
106 Posts |
Posted - 05/26/2008 : 14:26:56
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I wonder if this is another example of a gov't agency doing poorly what a private company would do well at. Any private company would welcome increasing demand. They'd source the material, increase production, and make a ton of profit while they're able. The gov't isn't reacting the same.
Kind of hard to believe the mint's talk of making a profit for the government, when they don't take advantage of this opportunity to do so.
WheatieFan
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08 Silver Eagle
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