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Copper Catcher
Administrator
USA
2092 Posts |
 Posted - 09/13/2008 : 17:24:46
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I can’t help but find this interesting that the Government purchased less silver in 2007 than in 2006! Why would they do this?????
Was it because the price was too high? Were they too successful?
So do you think this price dip might benefit the government and allow them to buy silver cheaper? Yet halting production regardless if it was planned or not would still have a tendency to increase demand, correct? What say you???
Public Law 107-201 (July 23, 2002) authorized the United States Mint to purchase silver on the open market to mint coins when the silver in the Strategic and Critical Materials Stockpile was depleted. The law requires an annual report of the amount of silver purchased on the open market by fiscal year.
2006 the amount of silver was 17,036,321.0010
2007 the amount of silver was 15,400,340.3630
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fb101
Administrator
USA
2856 Posts |
Posted - 09/13/2008 : 21:02:57
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| Maybe they had some left over? |
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n/a
deleted
51 Posts |
Posted - 09/13/2008 : 22:07:43
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| A couple of pages earlier (19/Acrobat 21) it says that sales of silver eagles were down in 2007 from 2006. Doesn't account for all of the reduction but some of it, yes? |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 09/13/2008 : 22:30:31
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| So, will 2007 eagles be worth hoarding? Maybe future numismatic value? |
"99% of all lawyers give the rest of them a bad name" 
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 09/14/2008 : 04:49:22
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quote:
Originally posted by moboman
So, will 2007 eagles be worth hoarding? Maybe future numismatic value?
Not the 07s, the 08s. Mintage of 08s is expected to be lower than the 96, which sells for a premium. |
"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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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 09/14/2008 : 11:07:57
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| Thats interesting ten bears.. Where did you see that? And also does that include the proof and unc burnished? |
Inquiring minds want to know |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 09/14/2008 : 11:17:25
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quote:
Originally posted by TenBears
quote:
Originally posted by moboman
So, will 2007 eagles be worth hoarding? Maybe future numismatic value?
Not the 07s, the 08s. Mintage of 08s is expected to be lower than the 96, which sells for a premium.
I heard they are actually minting more 2008 eagles than previous years on another site, I dont remember where. But that demand for them is so high right now, that the mint cant keep up. |
"99% of all lawyers give the rest of them a bad name"
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 09/14/2008 : 12:11:33
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quote:
Originally posted by daviscfad
Thats interesting ten bears.. Where did you see that? And also does that include the proof and unc burnished?
Strictly hearsay from my dealer and from several other dealers at a recent coin show here. I did not see it in print. Dealers were/are worried because the proofs make great Christmas gifts. With no proofs, dealers' Christmas sales will suffer. I think the 08 mintage is done. I would be interested to hear otherwise though. |
"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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jadedragon
Administrator
Canada
3788 Posts |
Posted - 09/14/2008 : 12:38:56
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| TenBears - I read an article yesterday making that exact same point, and suggesting state quarter silver proofs and several other items as suitable alternative gifts. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 09/14/2008 : 19:53:05
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| I was very much under the impression that 2008 silver eagles may be at the HIGHEST mintage EVER for silver eagles. The demand has certainly been there. |
"May your percentages ever increase!" |
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fb101
Administrator
USA
2856 Posts |
Posted - 09/14/2008 : 20:09:45
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From Numismatic news;
The mint has stopped producing 08 PROOF eagles to save blanks for the 08 UNC eagles, demand is phenomenal, so mintage will be excessively high.
As far as PROOF eagles go, this is already the third highest mintage year on record.
711,??? proofs. |
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magnasort
Penny Pincher Member
USA
174 Posts |
Posted - 09/14/2008 : 20:34:15
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| i would also order next years saes from mint in large qty as i believe they will start slow and have lower total 09 mintage than typical years |
Magnetic sorters, no moving parts except the coins |
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 09/14/2008 : 20:48:35
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quote:
Originally posted by legacypac
TenBears - I read an article yesterday making that exact same point, and suggesting state quarter silver proofs and several other items as suitable alternative gifts.
I agree. Frankly, silver proof anything is a pretty cool gift. However, dealers like the higher profit margins associated with the eagles. |
"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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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 09/14/2008 : 21:17:20
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quote:
Originally posted by TenBears
quote:
Originally posted by legacypac
TenBears - I read an article yesterday making that exact same point, and suggesting state quarter silver proofs and several other items as suitable alternative gifts.
I agree. Frankly, silver proof anything is a pretty cool gift. However, dealers like the higher profit margins associated with the eagles.
I like picking those silver quarters up for slightly above melt value! |
"99% of all lawyers give the rest of them a bad name"
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Silver Eagles - Does this make sense to you?
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