Gold and silver is money - Silver Eagle sales are Suspended - Default Soon?

[jvvald]

davincij15,

Can you please tell me the difference between the bullion, proof, and uncirculated silver eagle? I want to start buying silver eagles but I am not clear on the difference. Great vids, THANKS!

[davincij15]

Proofs are collector items stamped many times for a shiny look. uncirculated is everyday stuff people buy.

[RoySC1]

Thw seventh amendment, ratified 15Dec1791, refers to twenty dollars as the base point for settling civil actions in dispute. So - what was a "dollar" in 1791?

The most commonly accepted coin at that time was a Spanish silver dollar containing 423.9 grains of silver(Troy).

If you want to own some real money according to the Constitution, buy silver.

[davincij15]

People don't understand it's not an investment it's money and when you don't trust your bank or your investments in a company... you sell into money, gold and silver.

[MotaMouse]

i think fundamentally the flaw in your logic is this.

The debts are denominated in fiat currency, not gold.

[davincij15]

That is your flaw. If it was in gold then the owners of gold would take it and the debtors would need to pay up and can't then bankrupt the banks that loaned the gold.

However with Fiat the bankers do not need to go bankrupt the government and the Federal Reserve just prints more gold Er um fiat that people think is gold.

[MotaMouse]

Just look around you on a street level. Do you see lots of people with $200,000 of cash ready to buy gold or stocks or whatever or do you see lots of people with $200,000 of debt which they are struggling to pay off? which is it?

[davincij15]

Do me a favor come back here with such religious fervor when you are wrong as I know you will be if you where right.

I can take the brow beating if I am wrong, question is can you?

Many people believing in deflation fail to see that in order for deflation to occur someone has to lose money in a big way. Since the to big to fails are never going to fail there is no way you can have deflation since the money is replaced via the printing press.

But whatever dude.

[MotaMouse]

I think that was the purpose of my original post. Whatever happens you will never be wrong, you will always be ready with some excuse.

Chief one being there will be a massive global consipracy against you and your gold.

When you undoubtedly will be proved wrong.

[davincij15]

OK You are correct in our assessment. (that's a first) So lets say I told you that Madoff was a ponzi 10 years ago. You say BS and you make money for the next 10 years.

Was I wrong? NO.

He was running a ponzi 10 years ago and he was running one when he got caught.

Thus they are manipulating gold and silver today and tomorrow when they get caught.

The only thing a day trader wants to know is when will it end? Answer: I don't know.

[MotaMouse]

As you well know the entire debt issued fiat currency system is a ponzi as it requires exponential growth in debt.

That is why interest rates slowly decrease to zero over time as the debt becomes more and more difficult  to service. and more difficult to entice new punters.

Once saturation point is reached ie 2007 the whole process slams exponentially into reverse. It is unstoppable, the Fed are powerless, the debt is too big.

There will only be one outcome. Deletion.

[davincij15]

Everything you said there is true except the outcome.

Why?

Google

Deflation: Making Sure "It" Doesn't Happen Here

It's how helicopter Ben got his name. If they forced to they will mail everyone a check.

Also note that 60% of the money supply exist outside of the USA. So deflation will make foreign dollar holders very happy and collapse wealth Americans unless they use the printing press.

Honestly go broke or legally use a printer, what option would you use?

[MotaMouse]

Anyway Davinci thanks for the debate.

You are a worthy opponent.

Peace.

[MotaMouse]

There are roughly $60 trillion in debt dollars. $600 Trillion in debt derivative dollars but only a $10 - 12 trillion in monetary dollars. Those monetary dollars cannot mathematically pay off those debt dollars, those debt dollars will be deleted.

[davincij15]

"The federal reserve stands ready to print money without limit, WITHOUT LIMIT!" - Alen Greenspan addressing European investors about the derivatives problem.

[MotaMouse]

Greenspan is influencing a specific audience here.

He knows full well the Fed cannot *print* money without limit.

The fed is minute compared to the bond markets if they tried that bond investors would spike yields so high so fast it would make the debts more unpayable and more debt dollars would be deleted. increasing the deflation.

[MotaMouse]

You see it's a pincher movement they're damned if they print money and damned if they dont.

The only short term outcome is deflation.

[KhmerD0g]

many people missed this silver eagle sale suspension because they announced the same day Dubai announced they will not pay their debts on time.

and these announcements came on the eves of muslim holiday and thanksgiving. what a timing.

[KhmerD0g]

dude, where's my gold

[TheGameCrow]

yea u are right..

[MotaMouse]

I agree with the Madoff analogy.

The Dollar is about to collapse and because all the dollars in the system are debt, those (debt)dollar denominations will be deleted from the system, not multiplied. Therefore the remaining dollars will increase in value against everything, including gold.

This is a critical distinction. If you fail to understand the above paragraph you will fail to understand why the US dollar will rise significantly from a collapse, not fall.

[davincij15]

I am truly happy about that. If true it means that the price of everything will fall.

Social security payments will go farther even though the government borrows the money.

Medicare and new healthcare will be paid for with borrowed money.

FDIC will cover everyone from the government borrowing.

The 23 trillion given out or guaranteed will be more valuable.

trillion dollar deficits for ten years will also be a good thing.

Yeah, Yeah I see that... lol

[suzettespencer]

@MotaMouse Using that scenario, interest rates will rise, increasing debt levels. The price of gold may fall but the buying power of gold does Better in a deflation. Also, the supply of gold has shrunk. Gold's value will remain intact if not improve.

[MotaMouse]

Yes eventually interest rates will rise and rise dramatically. This will render more debts unpayable and so more debt defaulted on and deleted from the system.

Those Debts are denominated in US dollars!!!

So more and more dollars will be deleted in a viscous cycle.

Debt issued fiat currencies always ends in collapse, collapse of those dollars through their deletion. Not multiplication.

[davincij15]

That's the problem your are not seeing MotaMouse the banks are not writing off debt (they must pay the losses by selling other assets or selling stocks or what ever) thus causing the cash to be "deleted".

The Federal Reserve web sight chart data shows this.

Finally you are now one of a kind. There use to be 2 or 3 deflationists or gold haters here but they all dispersed and now that gold has made new highs 10 days in a row you appear. Funny, you will not last.

[MotaMouse]

The excess reserves mean banks are not lending which is deflationary.

"(they must pay the losses by selling other assets or selling stocks or what ever)" This very sentence is deflationary.

and the whatever will be gold and no im not a *gold hater*. I will buy huge amounts of gold when the time is right which isn't now.

[MotaMouse]

IMO gold is topping out right about now.

One thing i have noticed is the complete lack of conspiracy theories that the gold price is being manipulated upwards.

I predict a deluge of manipulation claims and conspiracies in the coming months as we go through the deleveraging phase and the gold price falls.

There will be no conspiracy it's just simple maths.

[davincij15]

Even right now if you look at the COT (commitment of traders) there is a record number of shorts most of witch come from 2 or 3 large commercial traders. Now if you thing there is no manipulation then ask the CFTC to release their names...

Oh dam will not supply the names.

There is sufficient data to ask "how this is not manipulation?" In September of 2008 an investigation at the CFTC started to answer that very question and has yet to conclude. GOOGLE IT

OK...

No Madoff here.

lol

[MotaMouse]

Maybe they are short because they( like me) actually believe the price is about to fall.

[davincij15]

Ok maybe I was not clear if 2 or 3 commercials have 70 to 90% of the shorts how is that not manipulation?

Answer that question?

[MotaMouse]

I've already answered that question.

Those shorts are going to make alot of money thats why they are short.

[davincij15]

You would think after madoff people would not fall for the same trick twice. Guess not.

[rayomans]

Gold is for people who don't understand silver, platinum or palladium.

[rayomans]

I don't think even you understand the importance of this.

Last year when they did, many used the argument that there was no shortage of metal, it was just a minting limitation of large bars into smaller coins. Well, that argument is not going to work anymore. The lid has been blown off now, they're short of metal, no question about it.

[davincij15]

I don't know that for sure. The US coin uses a mixed silver and copper round for pressing the coin. Also it only uses silver produced in the USA. So I will be more convinced of a shortage if more than one mint suspended it's production.

[Raycheetah]

The gold American Eagle by law requires gold minted in the US; the silver Eagle doesn't have that limitation, which expands the scope of this shortfall a bit. The fact that production is expected to resume early in December seems to indicate a "hiccup" in the supply line. Point is, for the US Mint to experience that sort of hiccup still comes across as suspicious. Of course, if you look at the US Post Office, mebbe we shouldn't be so surprised. =0[.]o=

[JRCrowley]

buy Englehard bars.

[SamuraiCommando]

Anyone notice that Marc Fabers channel has been suspended?

[longltran]

thanks mate

[usaelectionpolls]

Whenever I've wanted to find silver eagles at the stores, I've been unable to find them. By the way, you say in your comments that you think you may be wrong about the silver run having time. Silver has more legs than gold, right. I've seen the markup on silver rounds more than 10% over face, so there's a lot of demand.

[chena3]

dollar in play.. up ward trending every body over there in sand land is selling .. any thing every thing right now and they are selling for dollars .. gold could take a thumping stocks futures hammered 3% or so dollar is only currency large enough to handle deleveraging this could get confusing .. treasuries ... flight to saftey ... or into gold ..confusing to say least .. i'm lost guys clueless good luck ... long silver... stronger dollar ..

[Raycheetah]

@chena3

Nothing moves up (PMs) or down ($US) in a straight line.

Metals buying opportunity on Black Friday! =^[.]^=

[Raycheetah]

From the Financial Times: "The US Mint has sold about 1.19m ounces of American Eagles so far this year, up almost 75 per cent from the same period last year and on track to be the highest annual volume in ten years, according to official data. Sales of American Eagles silver coins have hit 26m ounces, the highest level in at least 23 years."

Interesting that the sales ratio of silver Eagles to gold was 19.33/1. I'd love the price ratio to be that low! =^[.]^=

[chena3]

hedge hard

or die

[chena3]

any body on thev ticks

this morning 1-2 am nyc

11$ dump in gold

every body took profiits at 1195

was massive dump ..now 12 hrs later

market has bought it back up to 1192 .. got out at 1193  and just watched the madness

tomorrow ...full contact trading ...

swords and sticks maybe stones too ..

play hard...

[davincij15]

crazy leveraged 24hr trader! ;)

[jsmythib]

I bought my 1st set of silver back in april 2009 when the US mint suspended production. Just in case people dont know, It is LAW that they produce enough coins to fill demand..part of our WORD as a country..which is worth horse shit.

I just recently cancelled all of my insurance plans, and am now refusing to pay any taxes. Bye all- nice knowing you.

[chena3]

1188..

wow

what a reversal ..

step back and look at this

[chena3]

out just as quick

[chena3]

back in 1193

[chena3]

bounce of1195 a few times ..

might drop close to11 92

before it heads to 1200..

waiting for the right dip ..

[chena3]

ohhhhh just left some on the table 1194. got out 93.50... hate that ... looking to buy a dip almost went back in at 93.12 but passed thinking 92 some thing if it will go that low time to catch breath ... heart pounding ... deep half hour ... woof

[chena3]

Limit down on equities usd/jpy at 80 Friday morning gold at 1400? I am watching the fx move in spasms now.

This is different...

the turkey might be the lucky one....

[chena3]

hockey mask ...check shoulder pads...chk shin guards ...chk gloves ..chk tooth guard chk .. put me in coach ready to trade .... lever me out 100 to 1 i don't care 100k to cover margin whacking badgers 101 ... bring it on . .bought the 91 dip ..

[davincij15]

Who do you think you are? A bank? 100 to 1 leverage. Why don't you pour gasoline all over you and play with matches.

If you don't get burned invite me to your celebration parity.

[chena3]

up and out

 at a buck seventy ..

[chena3]

this is easy money

asia is buying everything

right now

in it to win it ..

play hard

or stay home

[BLynchCAN]

cheers

[Raycheetah]

More news from the Mint, this time about GOLD Eagles:

"NEW YORK, Nov 25 (Reuters) - The U.S. Mint said on

Wednesday it will suspend sales of the popular American Eagle 1-ounce bullion coins as rising demand depleted its inventory.

"The United States Mint has depleted its current inventory

of 2009 American Eagle 1-ounce gold bullion coins due to the continued strong demand for this product," the Mint told its authorized dealers in a memorandum on Wednesday."

Sales to resume next month. ='[.]'=

[chena3]

DXY just got flogged today

down an entire %age point..

74.30 ...limbo lows ..

heading towards that uber low of 72.

after that.... it's all wally world ...

take care guys ...

play hard ...

[XonixRogotta]

The funny thing is about a month ago it was reported that the Austrian Mint plans on cutting its gold coin output next year by 32% because it believes the investor/safe haven demand for gold will fall because supposedly in there words: "The crisis is over". People are buying precious metals like crazy now and even China is telling its citizens to buy gold and silver. Let me remind you, that's a population of 1.3 billion people! What planet is the Austrian Mint living on? lol

[rollinglibs101]

davincij15

What do you think of plain rounds with just the APMEX stamp?,I buy these because they are cheaper and I figured silver is silver,

[davincij15]

That's right but I am also looking for easy trade in a mad max situation and possible numismatic. Also I am keeping gold and silver all the way to my grave and retiring using gold and silver as my core asset for retirement.

[rollinglibs101]

Growby10 would say you and you're plan are flawed..LOL..Thanks for the reply

[davincij15]

My plan is flawed because I want to work and get paid in something as of value. I want to store my wealth in something that will not go to zero.

Here's the thing the real value of gold based on relative value is $1300. Looking back at history gold held it's relative value very well at all times. Thus the blow off top will have gold come back to it's relative value to everything else.

It is my hope I can detect the top move into another asset and move back to gold when it collapses.

[edmack4me]

Why would you care what Growby10 would possibly think unless you're a sheeple.

[suzettespencer]

I bought 500 SE's just over a month ago & kinda regretted it because American coins are higher in price. Now, I am a little less regretful. Thanks for the 411. Just subscribed..

[TheLiddlekiddle]

and stellaconcepts said a few months back that the Perth mint stopped production of the 1 kilo coins, I hurried and bought some and am glad I did when it was a deal.

[davincij15]

That was good buy I was a little low on cash when he made that offer.

[chena3]

1195.23 $ gold oz

print... attn. fed res.

stuff that

in your turkey...

[davincij15]

And eat it Woof!

[kevinarmstrong1]

Davinci, they'll have to change the law if they stop minting the Eagles. Federal law currently requires that they be minted to keep up with reasonable demand.

[davincij15]

Ok, name one law on the book that restrains government and it lives by to day?

I like the one only gold and silver shall be payment of legal tender. I'm sure in the 1970 people said if they stop paying the gold they will have to change the law.

[kevinarmstrong1]

LOL... Good point!

[chena3]

old trader though if it goes to 8 it will go to 9 then 10 ... went all in last night at 1176.51 hope you did too ... india is buying more IMF gold .. should be good for 1200 $ .gold .. 8 to 9 to 10 ...simple enough .. peace out play hard ..

[chena3]

old trader thought ...

spell much ..

[SamuraiCommando]

D, Gold is going to hit 1200 today, I swear. It is just soaring. And if it does I expect silver to go to 21 really fast. 1200 is a strong number but I see 1300 for gold for end of December. Peter Schiff I think said 1200 by years end. We are blowing that away unless there is a correction. BTW I bought 75 Ozs last night and today. like 60 eagles...Its been a while since I have seen a correction at least over a few days worth. They have been mostly small quick drops

[opzoutenAUBnugraag]

that's funny indeed.

I checked the silver dealer and the silver eagle is sold out. The rest can be obtained.

[yogiudo]

APMEX actually cancelled an order of mine due to this suspension.

Glad I buy regularly.

[MzProgressive]

Sorry DaVinci - I would never buy "proof" coins ... unless I was into pure numismatics.

Just go for the bullion value.

Thanks for the heads up on the Eagles though!

And although you're in Canada -

Happy Thanksgiving!

[ang60]

I live close to the Mexican border and have purchased lots of Mexican 1oz Libertad silver coins. These can be exchanged in the US for bullion silver or in any Mexican bank for local Pesos currency. I also go to Mexico to shop for groceries every month and that is why I get those coins.

[urkingod]

Hey, I love all your videos.. but i was wondering WHEN ? is the good time to buy Silver ?? I think its HIGH as of today (November 25th 2009) compare to about 6 month ago... at $16/oz instead of $19/os.

[toshibavoodoo]

great

[Jalleer]

Happy Thanksgiving to you Divinci.

[Stealth0031]

Thanks for the news!!!

[argentummolonlabe]

At what price (or social unrest) do you see the numismatic market equell the spot price?

[doobsta]

SHTF...all bullion is the same.

I wouldn't fall for the numismatic stuff to much...if this stuff goes into hyper mode..people will not want to pay huge premiums above an already insane price for the metal itself.

[D33Lux]

@doobsta - I was told the same by the person whom I purchase my metals from. Unless you're a collector don't bother with the inflated rates of numismatic coins.  To everyone grab what ever you can, even jewelry, diamonds, copper, platinum. Its all good.

gold - $1186 oz - $2000 by the end of 2009

Silver - $18.75oz - $20 by the end of 2009

Copper - $3.17lb - $3.50 by the end of 2009

Copper is 60% undervalued.

Just a guess.

[TheMetalPerson]

diamonds are just pretty stones. I'd stick to metals that are worth their weight.

[skybirdbird]

tkx.........

[breakinmedia]

I love SAE's but i hearing there is allot of fakes out there now like the pandas. as far as I'm aware don't think they have faked libertads, maples or philharmonics yet. so that what I'm buying. Or only buying SAE from reputable sellers.

[LysSpooner]

I thinknot much future collector value in them. but for the silver for sure. load up

[ewffaces7]

Thanks for accepting the video response.

Hey Davincij15... remember last year, when you started making videos. I think it was all about the COMEX DEFAULT.

I think that event is still in the cards.

[Swifive]

Heck, I think it might be happening right now ! I think if 11 % of open contracts in gold stand for delivery monday, COMEX is out of inventory ! I think the figure is 27% of silver contracts standing for delivery will bust silver inventory of COMEX.

[oldmrelics]

interesting... if the US defaults what happens to the value of US coins? Will their value increase because of the metal content or decrease due to the devaluation? Whats your thought?

[4rcane]

when they default, i would assume the face value is zero, It will have numismatic value and the 1oz silver value

[oldmrelics]

4rcane I wonder how the metals coins will be revalued. If the US gov.t devalues the paper currency after a default to start over what happens to the metal coins? If a nickel has a melt value of .049 cents before default, the US govt. can't devalue the nickel to lower than its melt value can they? Will the marketplace determine the value of metal coins vs. paper currency? Any thoughts anyone? Thanks for your comment!

[brown55061]

The problem with pennies, nickels, dimes etc is they are so crappy now. Pennies have almost zero copper in them, almost all tin. Nickles have nearly no nickel in them anymore. Coins or paper are only worth what the other person is willing to exchange for that. You shouldn't be worried about what the govt says the value is. In the streets and open market none of that matters. Supply and demand!

[TheMetalPerson]

Do you have a chart of nickel years and their make up? I was under the impression that just about all post-war nickels were 25% nickel and 75% copper.

[D33Lux]

@Brown55061 - I'm not sure about U.S. coins, but here are stats for Canadian coins for anyone interested. If anyone can post U.S. coin stats its greatly appreciated.

How much is a Canadian penny worth!

A)1 cdn Penny pre 1996= 2.5 grams of copper

x 400,000 pennies = 1 tonne of copper

B) 1 cdn Penny pre 1980= 2.8 grams of copper

x 357,143 pennies = 1 tonne of copper

C) 1 cdn Penny pre 1979= 3.2 grams of copper

x 312,500 pennies = 1 tonne of copper

pre 1981 nickels are good to keep.

[oldmrelics]

brown555061 thanks for reply, pre 1981 pennies = 95% copper, nickels are 75%Cu & 25%Ni. As the saying goes, gold is for kings & queens, silver is for lords & ladies, copper is for the masses. When faith in the US dollar goes to zero, use of scales and a learning curve on a coin's metal content will happen over night in most stores. People will seek out currency with intrinsic metal value. I just added $50.00 in nickels, my stash of nickels =13,000, a win/win transfer of wealth into the future!

[Airave]

Glad I gots some Eagles. :)

Mostly Phillies though, they are

the best bullion buy over here.

[ewffaces7]

Great video.

[limitedplay]

stella made a video about Austrailia doing the same a day or two before this current massive up move started.

We shall see, but i think me needs a 100 ounce bar

[4rcane]

silver eagle because they wont be minted? Um, they still outnumber any coins from Australia. I suggest you look at Australian minted coins before thinking about silver eagles

[toogood6996]

howcome aussie rolls are so much more pricey than eagles?

[4rcane]

aussie coins are rare. Theres the kookaburra, koala and the lunar coin design that changes every year while the eagle and the maple don't change every year

[toogood6996]

i know i live in aus...whats the better investment though $30 koala or $20 eagle?

[4rcane]

koala of the two options, but I go with the lunar if i had a choice

[toogood6996]

just because of numismatic value? will perth mint suspend too?

[chena3]

last time india bought gold ..they bought a set amount per day oct 19 -30 ...at daily price ..

if they buy the same way

we can see strong move higher ..

play hard guys ...it's for keeps...

[chena3]

opppss missed decimal point

should read 200.0

[chena3]

all in

india is negotiating to buy 2000 or so more tonns of IMF gold

BUY ANY THING YOU CAN FIND ..

[chena3]

man i'm even buying gold covered tungsten bars...

[Raycheetah]

Even if this just represents a kink in the supply lines, the fact that the US Mint cannot keep up with demand seems pretty significant. We're not talking about NWT or APMEX; this is Uncle-Ruttin'-Sam, and he's falling down on the job, here...

And this is the gov't who wants to handle our health care? =0[.]o=

[doc7474]

Interesting news.

[chena3]

davincji

sell you pallet of eagles

35.000 oz

five million yuan

[chena3]

looking to buy a dip ...

come on 75

[TheMetalPerson]

Since eagles have a legal tender value, you can declare that while going through customs. This should hypothetically make traveling through US customs somewhat easier without declaring all your wealth.

[talkal0t]

GOLD IS OVER 1180 PER OZ. KITCO!

[KhmerD0g]

gold is at $1178 and oz. check allamericangold(.)com for daily precious metal price.

i see $1300 an oz. by Christmas.

[TheMetalPerson]

I just bought 100 dollars of nickels. came in a nice handy box. So convenient that i may do it again soon.

[gr8mikeY]

What is your opinion of the ultra high relief gold eagles? Those may end up being quite rare indeed in the future.

[BackBurnerNews]

Thx for the update!

: )

[1mealperday]

article on GATA titled mad rush as gold bugs get the boot. storage house treathens delivery to your door. They have alink to the article.

[seadog92023]

Thanks for the heads up. Think I'll pick up couple tubes tomorrow after my early AM surf session!

[odin422]

i thought proof coins were not solid silver.....No?

[seadog92023]

Thanks for the heads up. Think I'll pick up a couple tubes tomorrow after my early AM surf session!

[seadog92023]

Thanks for the heads up! Think I'll pick up a couple tubes tomorrow after my early AM surf!

[drutter]

Is there really no more silver? Or are they just refusing to put it into coins for the common man? Is the government just hoarding what they have left, perhaps until the price quadruples?

[drutter]

They're mandated by law in the US to mint these things, so this IS big news. Very bullish for silver!

[AfterTheFox75]

Many Thanks Davinci!!

In more ways than one...John was nagging me of all people to do a vid on this. Yeah, I thought it was funny too. lol

-Oh, and credit on finding the article goes to Raycheetah. :)

[valhala56]

How do you feel about small amounts of gold like 5 gram Credit Suisse? Do you thnk they are worth the trouble getting?

Also do you use microscopes on your bars or rounds?

[stellaconcepts]

no no - they havent done THIS before... this is for the normal silver eagles... they have stopped the fancy stuff (the other stuff they produce) but not the core silver eagles!

thanks for the vid - but annotate it with the fact that this has never been done before!

[AfterTheFox75]

I'm pretty sure they did this last year too. The demand was so high they stopped making the '08s and were late getting out the '09s too.

[stellaconcepts]

no no - it was everything but "American Eagle Silver Bullion Coin Program" that was stopped last year...

now - according to that site...

"Update: Due to the continued, sustained demand for American Eagle Silver Bullion Coins, 2009-dated American Eagle Silver Uncirculated Coins will not be produced. "

[AfterTheFox75]

Right. I'm just remembering what APMEX said late last year about being unable to attain any more Eagles...and then it seems to take forever for the '09s to come on the market.

[limitedplay]

@stellaconcepts yea bro thats what i heard, then i heard this and thought holy crap they have made two of these announcments in the same week