US Mint

Investors Losing Confidence in the US Mint, while Coin Minting Reports $171 Million Net Loss

Keeping up with investors demand has been a difficult task for the US Mint. The pandemic lockdowns caused a total shut down of mint operations, forced mine closures and caused other widespread disruptions throughout industrial supply chains.

Problems for the Mint only got worse as investor demand for bullion investment coins skyrocketed because of the pandemic. For a few months, the minting of Silver Eagle coins was secretly shifted to the Philadelphia Mint for the first time in history as backorders began to pile up.

2023-W Proof Gold Eagle and Buffalo Coins from the US Mint

2023-W Gold Eagle Proof 4 coin collectors set with box (ogp) and coa

The US Mint releases proof finish versions of the American Eagle and American Buffalo coins each spring. The coins are meticulously minted to a mirror-like finish which highlights the astonishing details sculpted into each.

Resale premiums on proof finish coins are higher than bullion. Dealer Buyback prices are often a few percent above melt value for coins that are in mint state.

Demand for Silver Eagles Spikes, Along with Premiums

The US Mint continues to be slow and unable to meet investor demand.
The failures of the Mint and their planchet suppliers have led directly to significant increases in dealer premiums in recent weeks. This week, the lowest dealer premium for silver eagles is more than 60% over spot price.
Some dealers, such as APMEX and JM Bullion are currently selling silver eagles with premiums at over 88% above spot price.

Modern History of Silver Coins in the US Economy

Bag full of Junk Silver Quarters

Precious metals coins have been found by archaeologists and historians that date back thousands of years. Historians and archaeologists from around the world have unearthed precious metal coins from cultures that vanished long ago. Many notable examples from China, India, Ancient Greece and Egypt are on display in museums. Silver, Gold and other precious metals … Read moreModern History of Silver Coins in the US Economy

NY Federal reserve launches CBDC “trial” on the heels of FTX collapse

central bank digital currency

Several weeks ago, the New York Federal Reserve quietly launched a 12 week long trial of a CBDC “digital dollar” pilot program in partnership with global banking giants like Citigroup Inc, HSBC Holdings Plc, Mastercard Inc and Wells Fargo & Co. The NYFR describes the project as an attempt to test the feasibility of using … Read moreNY Federal reserve launches CBDC “trial” on the heels of FTX collapse