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HistoryStudent | 02-26-2009 10:49 AM
News story from US Mint (they are OUT!) http://www.ft.com/cms/s/0/666b7ff0-0...nclick_check=1 Gold coin shortage as demand soars By Javier Blas in New York Published: February 25 2009 19:37 | Last updated: February 25 2009 19:37 The rush by retail investors into bullion coins is creating shortages as mints across the world struggle to meet the surge in demand, dealers and mint officials say. The scarcity is lifting coin premiums to as much as 5 per cent above the spot gold price, a level reached briefly after the collapse of Lehman Brothers last September, when coin shortages also surfaced. EDITOR�S CHOICE In depth: Gold - Jul-21Lex: Gold - Jan-26Gold pushes above $900 in buying spree - Jan-26When even gold can lose its lustre - Nov-02Central banks all but stop lending bullion - Oct-07Editorial Comment: All that glisters - Oct-05Spot gold in London on Wednesday traded at $972 an ounce, below last week�s peak of $1,004.5. �There is demand for double or triple what the US mint is able to produce,� said Michael Kramer, president of MTB in New York, one of the four US gold dealers authorised to purchase bullion coins directly from the government�s mint. The US Mint has sold 193,500 ounces of its popular American Eagle gold coin in the first seven weeks of this year, the same amount it shipped during the whole of 2007 and about the same as in the first six months of last year. �The demand is extraordinary. All the coins we got on Monday are gone today [Tuesday] and we will not be able to take any order until the following week,� Mr Kramer said. �It is the same with other mints.� Bullion coins used to be bought mainly by collectors and gold bugs, but the financial crisis is leading regular retail investors to embrace them, dealers say. Although the surge in coin demand is a bullish signal for gold prices, the fact that mints cannot match demand means that the potential extra consumption does not push spot prices higher, but just drives premiums above normal levels. The Rand Refinery in Johannesburg, which mints the world�s most popular gold coin, South Africa�s Krugerrand, said demand was above its maximum capacity, even after doubling last month to 20,000 ounces from 10,000 ounces a week. Johan Botha, head of precious metals sales at the Rand Refinery, said there was demand for more from international investors, pointing to strong sales to Switzerland, the UK and Germany. �If we were able to produce 30,000 ounces,the market would absorb it,� he said. Mr Kramer said MTB had Krugerrand orders equal to three months of refinery supplies to the company. The New Zealand Mint said it was doing as much business in a day as in a month a year ago, mostly servicing global investors. Michael O�Kane, head of gold sales at the New Zealand Mint, said: �Most mints and bullion manufacturers are struggling to meet current demand levels.� www.ft.com/gold NO wonder they ain't shippin' too much! :signs14::111::111:

HistoryStudent | 02-26-2009 10:51 AM
Re: News story from US Mint (they are OUT!) This and silver are the only markets RUN by deratives and NOT by normal supply and demand. :cry1:Bill Murphu-GATA: The spot price of gold is out of sync with the demand for gold.

phideaux | 02-26-2009 10:59 AM
Re: News story from US Mint (they are OUT!) TPTB saw a story like this, no doubt in the works for a few days, and SMACK! gold -$70, silver -$1.25.:confused_ma:

budfox | 02-26-2009 11:11 AM
Re: News story from US Mint (they are OUT!) I'm glad to see the age old laws of supply and demand hold true.... No supply- Prices drop.........Large demand - Prices drop

Apocalypto | 02-26-2009 11:12 AM
Re: News story from US Mint (they are OUT!) Up is down and down is up.

HistoryStudent | 02-26-2009 11:34 AM
Re: News story from US Mint (they are OUT!) RULES for INVESTING from ZAPATA GEORGE 1- human nature "never" changes 2- study history for "that" human nature 3- Oil still runs the world 4- gold and silver are the only real money 5- fundamentals WILL win out I really like these bottom line rules for common sense too. :4_8_4v::yes:

Zilver | 02-26-2009 11:45 AM
Re: News story from US Mint (they are OUT!) . who will be first to follow this "insiders" advice? He says hurry up and dump all of your gold soon it will "fall off a cliff" down to approx. $300 load up / go long treasuries to double or triple your money!:rofl: (real/ tangible = bad, paper = good) what a paper pusher (read the whole article for some good laughs) Wall Street Insiders Flash Alert by nick guarino http://www.holistic-helper.com/artic...FEb04_2009.htm some snips: Quote: "Little guys loose more money in gold - than in most any other investment" "the way to make money in gold now is to sell it, not buy it" "we are seeing gold prices go down, not up, and when gold prices are going down, you never, ever want to buy gold" don't get taken by the fairy tale that you "should buy gold." The truth is, demand for gold is growing weaker, not stronger. Soon gold is going to peak and come crashing back down. Just like oil did. Just like real estate and stocks did. The higher gold goes, the bigger the crash. And the more potential profits you can make by SELLING gold now. I believe gold is within a hundred bucks or so of the highest price it will achieve for decades to come. By year end, I expect gold to trade in the $300 to $375 range. Very possibly under $300. I could be wrong and you know it. BUT this is what I believe will happen. you can Sign up for more of his investment advice for only $5,000.00 per year!

HistoryStudent | 02-26-2009 11:47 AM
Re: News story from US Mint (they are OUT!) http://www.gold-eagle.com/intra-daykit.html :4_8_4v: There are a LOT of FOOLISH people in the world :signs14:; the FOOL and his money are easily separated. :yes: Professing themselves to be wise (printing money) they became fools. :36_1_30::36_3_16:

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