Silver DoctorsThe US Mint has just issued an alert to Primary Dealers across the US that Silver Eagle inventories, which according to the Mint began today at over 2 million ounces, are now SOLD OUT as of 12:30pm EST.
*Updated 1:45 pm EST
The Mint has reportedly sold through over 2 million ounces in less than 2 hours!
It appears that the $15.50 level was the line that broke the camel’s back regarding physical inventories, as physical demand has simply EXPLODED on this morning’s futures dip below $15.20.
*SDBullion took delivery of 10 Monster Boxes of Silver Eagles from the US Mint this morning, and currently have 20 monster boxes left in inventory.
When they’re gone, they’re gone!
1:45pm EST Update:
At approximately 1pm EST, one of the largest Primary Dealers in the US issued a notice to all purchasers that premiums for ANY PREVIOUSLY PLACED PURCHASES FOR SILVER EAGLES ARE NO LONGER VALID!
This is simply unprecedented!
silver @ $15.33 at post…..
Silver coins are likely to be the currency of choice after the dollar crash. They will be easier than gold to exchange due to their lower denomination. Food, water and weapons should of initial concern, than exchangeable precious metals.
PMs have retained their value proportionally over the ages. Not many other things have done that for the past millennium or two.