I checked and TULVING is buying American Silver Eagle coins at $2.25 an ounce over spot. http://www.tulving.com/goldbull.html But there is a reason this is happening. If you notice TULVING indicates they are SOLD OUT of these. I have a theory: They are buying and NOT SELLING these coins. Here is the reason from a friend of mine who many of you have seen his videos but I will allow him to remain anonymous for now because I haven't asked him if I can reveal his identity:
Remember now this has to do with ONLY the AMERICAN SILVER EAGLE BULLION COIN:
When silver plunged for a week in 1998 due to totally illegal scam by JPMorgan to wipe out shorts by the thousands other coins also got hit including the maple leaf but NOT the US silver eagle. I've asked many people but no one ever knew. NOW I know. I'll keep my silver eagles knowing they are protected requiring US silver to make them. I think 2011 will be the last year. At the present rate they'll be shut down by June then the only silver will be foreign.
I own bars, ingots and even a 1000 ounce bar (sold to me below spot - the guy was stuck with it and now I'm stuck with it). Moving that thing around is a back breaker!
I've predicted within a few years we'll be seeing ads in newspapers by the likes of Intel advertising to the public to buy junk silver to keep their production lines going. That's when the price jumps will REALLY take off. I'm 63 so I want to see this happen soon!
There is something else that is very important concerning the AMERICAN SILVER EAGLE BULLION COINS and this I believe is going to make them into the category of a "collectable" very soon. (By the way: Has anyone seen how fast these new 2010 and 2011 "America The Beautiful" Silver coins are completely selling out? The same reason applies to these coins). The reason for this follows here from a friend of mine who watches this stuff closer than I can:
.....If you own mostly American Silver Eagles it will brighten your day as well!
In 2008 congress in one of their "pre-election let's show the voters some patriotism" acts did something that is now going to sting. They passed a law that from that day forward all one ounce silver eagles HAD to be made from silver from mines in the United States. Well, there is now a problem. You may remember I've predicted the U.S. mint would stop minting silver coins but it was because I added up the world's output of silver, the rapid increase in popularity of the coin and simple math showed "this ain't going to fly much longer". I was not aware of the 2008 law. This cinches it! Even at a spot price (spot being raw silver after being separated from other rocks but not yet smelted into a coin or anything else) of around $30 there are currently only two U.S. silver mines operating at a profit! A number of them have shut down after running out of silver. I read a rumor the U.S. government was subsidizing some mines to remain open that would otherwise operate at a loss. Just a rumor.
The amount of silver mined in the United States continues to drop in spite of a huge increase in LOOKING for both gold and silver. They are finding more gold (LOTS!) - but not silver. The silver eagle was first minted in 1986. Through the year 2000 silver wasn't that popular and fluctuated from $2 to $4 for many years. One of the few things in life I've done right - the numbers said "WE'RE GOING TO RUN OUT SO BUY BUY BUY!".....
I own bars, ingots and even a 1000 ounce bar (sold to me below spot - the guy was stuck with it and now I'm stuck with it). Moving that thing around is a back breaker!
I've predicted within a few years we'll be seeing ads in newspapers by the likes of Intel advertising to the public to buy junk silver to keep their production lines going. That's when the price jumps will REALLY take off. I'm 63 so I want to see this happen soon!
There is something else that is very important concerning the AMERICAN SILVER EAGLE BULLION COINS and this I believe is going to make them into the category of a "collectable" very soon. (By the way: Has anyone seen how fast these new 2010 and 2011 "America The Beautiful" Silver coins are completely selling out? The same reason applies to these coins). The reason for this follows here from a friend of mine who watches this stuff closer than I can:
.....If you own mostly American Silver Eagles it will brighten your day as well!
In 2008 congress in one of their "pre-election let's show the voters some patriotism" acts did something that is now going to sting. They passed a law that from that day forward all one ounce silver eagles HAD to be made from silver from mines in the United States. Well, there is now a problem. You may remember I've predicted the U.S. mint would stop minting silver coins but it was because I added up the world's output of silver, the rapid increase in popularity of the coin and simple math showed "this ain't going to fly much longer". I was not aware of the 2008 law. This cinches it! Even at a spot price (spot being raw silver after being separated from other rocks but not yet smelted into a coin or anything else) of around $30 there are currently only two U.S. silver mines operating at a profit! A number of them have shut down after running out of silver. I read a rumor the U.S. government was subsidizing some mines to remain open that would otherwise operate at a loss. Just a rumor.
The amount of silver mined in the United States continues to drop in spite of a huge increase in LOOKING for both gold and silver. They are finding more gold (LOTS!) - but not silver. The silver eagle was first minted in 1986. Through the year 2000 silver wasn't that popular and fluctuated from $2 to $4 for many years. One of the few things in life I've done right - the numbers said "WE'RE GOING TO RUN OUT SO BUY BUY BUY!".....
....developing...
