Reuters--US Mint runs out of gold and silver
Apr 23, 2013
With the huge drop in the price of gold and silver, one would think that there would be PANIC SELLING. Instead, Reuters is reporting PANIC BUYING.
Take that, JPMorgan. And that. And that.
The only panic selling is in the paper market, as the speculators are fleeced. The manipulators are being outed, as the "decoupling" takes place between paper and real prices. It will soon be apparent to all that the big banks have been cheating.
(Reuters) - The U.S. Mint said it has suspended sales of its one-tenth ounce American Eagle gold bullion coins as surging demand after bullion's plunge to two-year lows depleted the government's inventory....
Since last Monday, U.S. gold coins have been flying off dealers' shelves as retail investors snap up bargains after bullion's historic plunge in price and into bear territory.
Michael Kramer, president of Manfra, Tordella & Brookes (MTB), a major U.S. coin dealer in New York, has been inundated by orders from existing and new wholesale and retail customers.
"It's panic. This is one of the busiest times in quite a while. People think gold's at the lows and they want to take advantage," he said in an interview....
In addition, the Mint has been allocating its silver coins since late January due to strong demand and limited inventory.