The 3 Stages of the Coming Silver Shortage

 Ted Butler’s friend and mentor Izzy takes the soapbox on “The 3 Stages of the Coming Silver Shortage”. 

Editor’s note: Izzy’s article was originally published a few years back, when silver was at $9+/oz and before the recent run-up in silver to $16. True then, moreso today. Consider this: we have already experienced Izzy’s STAGE ONE scenario (last year), get ready for STAGE TWO.

By Israel Friedman

(This very bullish opinion was written by silver enthusiast Israel Friedman, age 73, a friend and mentor to Theodore Butler. Mr. Friedman has owned and studied silver for 30 years.)

I hope that the sell-off in the metals made you think about the way you perceive gold and silver as investments. This wasn’t just a correction, this was a slaughter by the paper short sharks who call themselves commercials.

Yes, COMEX Is Rigged
gold vs silver bars_100x108Mr. Butler wrote to the authorities in detail and asked why these so-called commercials can break the law. But up to now, he has not received any answers. I am in the camp that believes you can’t change the paper market to be honest. But that doesn’t mean you can’t do anything about it, because you can.

To those people who speculate in the paper market, I say you’d be better off giving your money to charity than give it to the paper sharks.

This sell-off brings two conclusions. One, that gold and silver don’t have monetary value, because money value doesn’t change so much in value in such a short period of time. Gold and silver aren’t insurance for anything, not for inflation, not for a collapsing dollar and they are simply controlled metals. Two, the naked short sellers aren’t afraid of anybody. The users are also controlled by the commercials and aren’t buying at dumping prices. They will regret not buying at the low prices, as they need silver to live.

So, the conclusion is that paper trading is dictating the prices, and if you think for one moment that they will not take your money when you trade paper, forget it.

Should You Buy Precious Metals?
Not to lose your investment money and participate in the future bull market in silver is the most important thing, and you have to choose the right course to achieve that. What kind of decision do you have to make to buy metals? You have to ask yourself some questions.

One, will any of the metals be in short supply?

Two, if I invest money can I make a minimum of 5 times my investment?

Three, can I hold for the long term?

Lastly, do I have extra cash to buy with?

gold vs silver v2_100x125If you can answer yes on all four questions, in my opinion you can buy. After you answer yes, the question then becomes should you buy gold or silver? I am a silver sympathizer, and in my opinion, only in silver can you have a shortage situation.

Gold no.

Only a shortage in physicals can bring high prices and defeat the paper market and force the naked short sellers into bankruptcy.

Price Points and the Coming Silver Squeeze
To define what I mean by shortage in silver, I say categorically that I’m not interested in the level of world inventories of silver, COMEX inventories and the guru’s stories. I am only interested to know if the users are receiving their shipments of silver on time. When a delay of silver shipments occurs, and affects most the users, I will consider this as a shortage.

Let’s see the stages of a shortage. 
1) Pre-shortage – the users will have to wait 3 to 6 weeks extra for shipments. Then the prices can rise to $20-30/oz.
2) Shortage – the users will wait an extra 6 weeks to 4 months for silver. Then the prices can rise above the old all-time highs of $50/oz.
3) Super shortage – the users have to wait more than 4 months for their silver shipments. The price will range from $100 to prices you won’t believe.

If this last scenario occurs, and gold has plenty of supply, the price of silver, at a minimum, will equal the price of gold. And my crystal ball tells me that silver can exceed the price of gold by a great deal.

You should be asking, how did I calculate the prices for the different stages?

silver 1000oz Comex Bar Stack_100x128My calculation is very conservative. I only take into consideration the future deficits between the producers and users, which is running currently at around 50 million ounces annually. I also take into consideration that private investors have 400 million ounces in bullion and coins that they will sell in some stages.

-In stage one, pre-shortage, I think investors will be willing to sell 50 million ounces at a price between $20 to $30.
-Stage two, shortage, investors will sell 200 million ounces between $30 and $100.
-And the remaining 150 million ounces will be sold in stage three, super shortage and the prices will be truly shocking.

These prices are very conservative, in my opinion, because they don’t take into consideration the naked shorts, new investments, or those banks worldwide that sold silver certificates without real silver backing, only derivatives backing.

Commercial Silver Users (Manufacturers)
The users will be the key for the future price of silver. No user wants to stop production, and will pay any price for silver if that means staying in business. For you the investor, who wants to know when stage one will start, my answer is simple – not me or anyone will know in advance when it will start. No one will ring a bell.

In my opinion, all of these stages will happen in silver, and super stage three will take years to develop. I ask you, do you believe that, when stage three comes, you will benefit if you hold a paper-leveraged contract? The Exchange will change the rules; including changing margins, and maybe by canceling the delivery process, and you will be left with a paper only contract.

The conclusion is, if you believe in a shortage situation, you will be secure only if you buy physical.

The Best Kind of Silver to Own for Stage 3
The only question is what to buy? Because I believe that at some point we will arrive at stage three, super shortage, when prices will be over the old all-time highs and will fluctuate by dollars per day, no investor will have the money to buy 100 or 1000 ounce bars.

coin-silver-eagle-wht-back_70x70For the small to medium investor, I say buy U.S. Silver Eagles.

And for rich investors buy Eagles and bars. I like Eagles because I think, at some point, the Mint will stop minting them and they will develop a numismatic and scarcity premium. Plus, in my opinion, they are the most beautiful coins in the world, and when I hold one they make me feel good about America.

Dance to the Bank
If my vision comes true, and we arrive at the super shortage stage, the Congress will ask a lot people hard questions, and the questions will be how we came to this situation. And Mr. Butler’s past complaints will be checked.

Physical investment is the safest way to riches, in my opinion. When the naked shorts go to bankruptcy courts, including the big sharks, you will dance to the bank.

Remember, do your homework before you invest. Cover all the angles, but don’t speculate, only invest in physical silver with free cash money. And take in consideration you can buy silver 30% cheaper than a month ago. And this is a fantastic, fantastic, fantastic opportunity.

Good luck and remember the modern gold is silver.
Israel Friedman


June 2009. We’re already through Stage One. See also:
Scared By Silver? (or should it read, “Scared? Buy Silver”)
US Precious Metal Coin Shortage Continues
No Gold, No Silver
Butler: “Silver Blowback”
APMEX Explains Shortage/Outage


COMEX Warehouses in Trouble?

Since I started tracking COMEX gold and silver warehouse levels last November I’ve grown to be very suspicious of the numbers COMEX reports each day. In spite of increased physical deliveries in both metals, “registered” inventory levels remain more or less stable. This is why I gave up daily updates in favor of weekly ones; I just don’t have all that much faith in COMEX reporting.

Jim SinclairHero and venerable gold guru Jim Sinclair has experience in all things gold going back to the 1970s. Things happening NOW at COMEX gold warehouses are reminding him of severe delivery problems that bankrupted brokers BACK THEN.

Will Increased Delivery Demand Break The Gold Warehouses?

Dear Friends,

I have been speaking with many people this evening who have taken gold delivery.

What I am hearing is not impressive.

For decades warehouses have held, but rarely delivered as compared to store.

When examined closely it is a paper system that may have fallen badly behind as gold moved ahead since 2001.

There is a possibility the system is antiquated and more FUBAR than anyone, even the warehouses themselves, realize.

I have been told that bars delivered do not correspond with the receipts from exchanges.

I have been told that bars of slightly different weight (higher) have been received.

COMEX floor tradingThis may well be a system that has never been asked to handle volumes as are now taking place. This may well be like the old hand clearing equity systems that broke down as volume of trading increased in the early 70s.

F.I. Dupont went out of business because their back office could not meet the growing clearing and trading at that firm.

Pershing, and Vilas & Hickey were the two largest equity clearing firms.

Vilas & Hickey, a NYSE firm of which I was a general partner (at 27 years old) recognized the growing problem and transferred our clearing business to Pershing and merged our activities into another firm, Muller & Company, in order to avoid the impending problem.

I was the sole general partner of the merged NYSE firm so I know what I talk about. We preserved our capital and side stepped a problem that busted many firms.

I smell exactly the same thing in the precious metals warehouse business. How pervasive it is we all will soon find out.


And Jim’s friend J.B. Slear, who helps people out with getting physical delivery from COMEX, is reporting:

1) “We’re finding out that some brokerages will not help with the delivery process or refuse to help even after the commissions are paid.”

2) “Calls today are reflecting concerns about accounting practices in Canada and other G7 countries.”

3) “…We have witnessed cost increases in just about everything “Comex”, from Prudential’s verification process (which is matching buyers monies and sellers bars) all the way down the line to the delivery itself.”

Read more at Assistance Getting Delivery from COMEX Warehouses.

Will the COMEX Manipulation Ever End?

Jim SinclairThe headline above echoes a popular question asked by all who suddenly realize gold and silver prices have been manipulated on the COMEX. No less an authority than Jim Sinclair (of answered this query Monday, June 8, 2009:

You always offer me, among the many other lamentations in your communication, the fear that gold and the dollar will always be manipulated to withhold true pricing.

My answer is manipulation only works in the direction anything wants to go in the first place, which gold and the dollar have so far proven correct. Step back and from the day to day ticks and look at the big picture.

The problems out there are so big that no central bank, treasury or group of Banksters anywhere on the planet can afford to handle them. Right now if it were not for the charisma of the new Administration things would have unwound completely.

In time, the problems of today’s financial world to which there is no practical solution will overwhelm the manipulation by simple size of money motivated into the gold market and the number of newly created dollars for sale.

The size of the dollar pool is infinite, and the amount of gold is finite. That is the equation which will make Alf right in his take on the price. It only takes a failure of confidence to motivate the equation. This is why I have been trying to give you clear direction free of the fog of emotion and spin in order to protect you.

At every turn the media, government and Banksters have been trying to get you to dump your protection.

Stay the course. Gold is going to save more than your financial position.

Jim Sinclair

Editor’s note: Alf’s numbers are predicting $3,000 to $4,000 per ounce for gold during this next leg up.

Jim has said this move will begin in just a few days, around June 15, 2009.

I say, “Where gold goes, silver will follow at a ratio between 1:16 to 1:75. Silver is the poor man’s gold.”

$3,500 gold implies silver at $47 (1:75) to $219 (1:16).

Reader Asks, “What’s So Hard About Busting COMEX?”

Scott's Soapbox

Here’s a good question from a reader, “Mike“:

I have been following your website for some time along with Sinclair and enumerable others. I think you do a great job and I find your musings incredibly infromative. I’ve never traded futures on the comex but this whole comex cracking/failure to deliver thing puzzles me a great deal.

As best I can tell, if someone wanted to bust the comex couldn’t they just go long an unlimited amount of futures and then just ask for delivery?

The total dollar amount of all registered comex inventory is only about $3B which for many wealthy oligarchs, sovereign wealth funds, or potentially hostile countries is but a drop in the bucket. Is there something I’m missing here?

People seem to get excited about the comex potentially failing and it very well could but it seems that it wouldn’t be very difficult if anyone really wanted to. Again, perhaps I’m oversimplifying but I think getting a clear understanding is very important so people aren’t mislead in their understanding of the process and in any investment decisions regarding the precious metals skyrocketing if and when the comex collapses.

By the way, I am incredibly bullish on both monetary metals and am a firm believer in abolishing the fed, a return to sound money, etc., etc. etc. I’d love to hear your thoughts on this issue when you have a moment as it would probably be educational for me and many other of your readers.

Thanks so much and keep up the great work,

watermelons smashed 120x84Mike, here’s my take on it FWIW:

I agree, theoretically it shouldn’t be all that hard to crack COMEX open like a ripe melon. Like you say, it’s a relatively small market.

How small? As of yesterday, June 3, 2009, COMEX reported a total silver inventory of 120,879,235 oz. So, 121 million ounces at $15.92/oz works out to $1.9 billion.

[/begin conspiracy rant]
Chump change when the “govmint” is throwing around trillions. Geez, remember how the “govmint” gave JPMorgan $30 billion for taking over failing Bear Stearns? Monday, March 17, 2008 was the FIRST business day JPMorgan assumed and expanded Bear Stearns’ COMEX silver manipulation. [link] JP Morgan is almost solely responsible for the COMEX silver manipulation, and they’re funding it with money given to them by your “govmint”.

Oh, BTW, do you remember when silver hit its recent 28+ year high?

Monday, March 17, 2008,  you say, the EXACT SAME DAY JPMorgan took over the COMEX silver manipulation from Bear Stearns? What a coincidence…the price has been beaten down visciously ever since.
[/end conspiracy rant]

So, yes, if you know someone who’s pro-freedom and anti-bankster with a spare $2 billion* they’d have a shot at getting it done.

But normally there’s a problem with doing something like this. You can’t just go out and BUY long futures contracts: there has to be someone else willing to take the other side and SELL short. The COT report (Commitment of Traders) tells us how much JP Morgan’s willing to bet on shorts: right now it sits at 235 million oz.

prince-charming-v2smYes, you read right. JPMorgan is short DOUBLE the entire COMEX silver stockpile. Guess it won’t be hard to find someone to take the other side of your long bet!

BUT WAIT! YES! Now you’re catching on! The very fact that there’s 235 million ounces SHORTED out there right now means SOMEONE(S) ALREADY MADE THE LONG BET as well.

Are you getting this? While you (and any normal, rational human who can fog a mirror) would think all you’d have to do to bust COMEX is make a long bet for the ENTIRE COMEX inventory, you’d be wrong. It’s been tried before AND IT’S BEING TRIED RIGHT NOW. But JPMorgan just keeps making a bigger SHORT bet.

How can they do that?

Ever play poker? Say you’ve got more chips than everyone else at the table. What the hey, let’s make that more than everyone else COMBINED at the table. Let’s also pretend you’re arrogant and cocky ‘cuz your rich uncle is standing behind you, ready to replenish your supply of chips. And, boy oh boy, is he loaded. (We’ll call him your good ol’ Uncle Sam.)

What happens when you’re dealt a crappy hand? Fold?


Bluff your way to a winning hand, up the ante, RAISE, RAISE, RAISE. As long as you can outspend ’em all you got a shot at the pot.

bad poker handYou see, Mike, JPMorgan knows silver is going north like Santa on Dec 26th. Their silver hand absolutely sucks. But, our “govmint” gave ’em a $30 billion grubstake to keep a lid on silver. As long as silver is down, the dollar looks solid and the sheeple won’t panic. [See: JPMorgan Is Fed’s Fair-Haired Golden Boy]

And, so far, JPMorgan knows everyone holding a long position is NOT paid up; they’re LEVERAGED. If JPM can knock silver down a buck the longs’ll get whacked with a big margin call. If they can’t cover, they lose. When the whacked longs lose, their emergency exit pushes the silver price down some more. That causes more margin calls for the longs, pushing the price further down, et cetera, et cetera, et cetera, ad nauseum.

So far the longs (“us” not “U.S.”) have lost each time. But let me ask you this: can a guy win a poker championship with nothin’ but bad hands and solid bluffing?

Would you bet your retirement, your country, your currency, your very physical safety on the guy NEVER having his bluff called and winning EVERY time?

I, for one, want a place at the table when his luck runs out. That’s why I don’t trade my silver, why I have only bought silver since 2005, and why I never sell. I have all the silver I ever bought, except for that which I’ve given away to help people [If You Have No Silver I’ll Give You Some of Mine].

* So, can a guy step in and bust COMEX for $2 billion? Hmmm, sure, futures are leveraged so maybe you could do it for less. In an honest market (#snicker#) 1/10th of $2 billion oughta do it. BUT JPMorgan’s used those nasty margin calls to flush out the longs before. Guess you’d better have the full $2 billion to do it.

But wait! It ain’t enough to bet the entire COMEX stockpile long. Remember, JPMorgan’s betting DOUBLE the entire stockpile. If you wanna call ’em I guess you better pony up about $4 billion.

But wait, again! Who says JPMorgan won’t short even more? How MUCH could they short? $8 billion? $16 billion? Gee, wouldn’t the CFTC step in at some point and declare a manipulative short position and stop the madness?


[/begin conspiracy rant]
You see, the chairman of the CFTC sits on the president’s Plunge Protection Team [link]. He’s automatically in on the manipulation. If it makes him squeemish heading up a dishonest, deceptive “watchdog” organization he can just quit. Oh wait a minute. It does look like turnover’s been a problem at the CFTC Chairman position:
2005: Sharon Brown-Hruska
2006: Reuben Jeffery III
2007: Walt Lukken
2009: Michael V. Dunn
2009: Gary Gensler

Hmmm, maybe they do have a conscience. At least a small, easy-to-kick-around, Jiminy Cricket one.
[/end conspiracy rant]

So, NO, the crooked CFTC won’t stop JPMorgan’s silver manipulation, you see, because they’re backing it. So, if you’re going to bust COMEX you’d better have enough multi-billions on hand to call JPMorgan’s bluff. And, you’re not just going up against JPMorgan, but the guy who’s bankrolling them: dear ol’ Uncle Sam.

Maybe it’d be easier to replace CFTC leadership with an honest guy. Maybe you’d also have to replace at least 51 Senators. Maybe throw in 222 Congressman (you can keep Ron Paul, maybe Dennis Kucinich.)

Or, maybe you just wait for the US dollar to finally collapse. Once there’s no dollar to protect, there may be no reason to keep a lid on gold and silver. Actually, now that I think about it, since the Shadow Powers want a dollar collapse anyways (to cripple the U.S. and make way for greater global gov’t) maybe they already plan to trigger it by abruptly stopping the manipulation.

USDX 2009-06-04

Hmmm… maybe the dollar dive has already started…

Have you noticed how nervous the Chinese have gotten in the past few weeks? How Brazil no longer uses the dollar for trade. How Russia now prices oil in rubles not dollars? How the Chinese laughed at Treasury Secretary Geithner last week when he said “the dollar’s strong.” [ Read Why The Chinese Laughed At Geithner by former Assistant Secretary of the Treasury Paul Roberts.]

And, finally, the last time COMEX had manipulated the silver price below its cost of production a couple brothers from Texas tried their hand at busting COMEX by going long on silver and preparing to TAKE PHYSICAL DELIVERY of 192 million ounces. What happened? The CFTC crooks villified them.

The Hunts shook the lying bankers to their boots – to the point where intervention by the Fed, Treasury, and the Defense Department were warranted – merely by asking for delivery of the 192 million ounces of silver they’d been promised. This was not a “cornering” of a market; it was the attempt to enforce a contract, same as you’ve got with your landlord or bank.

Read “The Hunts Tried to Corner the Silver Market” Myth.

Please protect yourself and your family. Don’t cash in your (gold and silver) insurance!


COMEX Crimes: Your Tax $ at Work
JPMorgan Is Fed’s Fair-Haired Golden Boy

Gold/Silver Manipulation Over in 30 Days?

If you’ve been a precious metals investor for more than six months you’ve heard about the rampant price manipulation on COMEX. (COMEX sets the cash price for gold and silver through its daily futures and options trading activity.)

Many of us have been waiting for the illegal manipulation (run primarily by Bear Stearns until March 2008, then JPMorgan Chase since then) to end for over two years.

Adrian Douglas thinks it may be over in as little as 30 days.

At he writes (edited for length, link):


In November 2005 when gold was trading about $450 I predicted the mega-move in gold up to $720/oz by noticing a very large build-up of call options in the HUI component shares. [link]

In August 2007 I identified a massive Gold call option build-up in the COMEX DEC 2007 contract and predicted a big gold move. [link] Gold was trading at $660/oz at the time and ran up to over $1000/oz by March 2008.

It just recently came to my attention from two different confidential sources that JPMorgan and Goldman Sachs have been buying large amounts of Calls in gold and silver. This made me put on my gumshoes and take a serious poke around the COMEX option open interest once again.

Figure 1 shows the cumulative Open Interest across all strike prices for the COMEX Gold Call positions and the Put positions for the JUN 09 options.

Figure 1

The ratio of Calls to Puts is 1.81 so Bulls outnumber Bears dramatically. What is also remarkable is the amount of open interest. For example, 100,000 contracts would be in-the-money if the gold price runs to $1,250/oz in the next 30 days. This is an astounding amount of option OI considering the open interest in all the futures contracts stands at only 345,000 contracts!

Let’s take a look at Figure 2 which is for DEC 2009.

Figure 2

The bets by bulls outnumber those by the bears by a 2.3 to 1 ratio which is even more bullish than for JUN 2009. The Total Call option interest is 113,663 contracts which is very similar to JUN 09. Furthermore if gold is trading at around $1600 by DEC then 100,000 contracts will be in the money!

I consider option players highly sophisticated speculators.
Such large bets are likely being made by some large money interests who are buying out of the money options BEFORE going into the futures market. Buying long futures in large volumes will rapidly drive up the gold price but the massive open interest in the Call Options then allow access to much more futures contracts at the same price by exercising the options and then perhaps taking delivery of the gold. This is bolstered by sources revealing that JPM and GS are buying in quantity. So on the part of JPM this is likely a ploy to try to cover a chunk of their massive short position.

Let’s now look at silver.
Figure 3 shows the cumulative Open Interest across all strike prices for the COMEX Silver Call positions and the Put positions for the JUL 09 options. The ratio of Calls to Puts is 1.80 so Bulls outnumber Bears by 80%. What is also remarkable is the amount of open interest. For example, 18,800 contracts would be in-the-money if the silver price runs to $25/oz in the next 60 days. This is an extraordinary amount of option OI considering the open interest in all the futures contracts stands at only 94,000 contracts!

Figure 3

Figure 4 shows the cumulative Open Interest across all strike prices for the COMEX Silver Call positions and the Put positions for the DEC 09 options. The ratio of Calls to Puts is 1.68 so Bulls outnumber Bears by 68%. Again the total Open Interest in Calls is high at almost 25,000 contracts when the Open Interest in all futures currently stands at 94,000 contracts.

Figure 4

I conclude that smart money is being placed for a massive rise in the gold price in the next 30 days and silver in the next 60 days (which probably means within 30 days for both metals) and again by December.

Only sophisticated traders tend to be in the precious metals option market so when there is a huge build up betting on a particular direction that is typically a directional indicator as I have shown was the case for the last two big moves in the precious metal bull.

The flat contango in gold and silver suggests there is a shortage developing of precious metals for delivery. We know that two large banks hold almost 100% of the commercial net short position. They need desperately to cover their exposure if the market is about to make a big move.

It looks as if that is precisely what is happening.

Adrian Douglas
April 29, 2009

Sinclair’s Pithy Proclamations

Jim SinclairJim Sinclair, hero, is on a roll lately with incisive, insightful quotes like these gems:

“Financial rescue plans being rolled out at an unprecedented pace are starting to appear as if they may well be acts of futility thrown against the wall like cooked pasta to see if one might stick.”

“There is no super currency that can rescue anything anywhere.”
-On the claim Special Drawing Rights could become the new global currency.

“The SDR is presently an accounting unit made up of the US dollar, Yen, Euro and the British Pound. Now how in the hell is that gang going to save the world monetary system? It is three cripples and one anti-cripple with its own problems.”

“As Volcker observed yesterday, inflation is one of the ways out of this mess and it is that way I assure you we are going. Only gold can rescue you.”

“The new extreme “Flailing In The Breeze” plan today took the shape of the US Fed plan to issue their own debt when things get better. When will people understand that a problem caused by debt and fancy finance cannot be cured by debt and fancy finance?”

“The financial situation is grave and no spin, even of an economic bounce, will serve to make it go away. There simply is too much permanently impaired paper. Bank nationalization will occur.”

“This financial situation is totally out of control. Government financial leaders are flailing in the wind, trying every remedy ever heard of while inventing new measures, all of it in total futility.”

“Major Banks will be nationalized. Smaller institutions will be rolled into nationalized banks.”

“The Dollar does not have a future. Gold is your only refuge asset.”

“To allow yourself to be run out of anything gold by the COMEX manipulators is to sacrifice your financial lifeline. It is just that bad.”

“The unavoidable financial consequences are already raising their ugly heads and the curtain is coming up on the degree of this total disaster.”

“Gold is no longer an investment, it is your lifeline.
It is that serious. Your future depends on gold as there is no piece of paper or SDR package of various paper that can protect you.”

“There is no method to drain this from the monetary system as the Fed would have you believe. It is in the system, not in a make-believe black hole somewhere.
“It is staying in the system, and it will destroy what is left of the system before December of 2012.”
-On the amount of money injected into the economic system in the last 6 months and how it will trigegr massive inflation.

“Lines and squiggles on the dollar or gold chart are meaningless noise.”

“Financial rescue plans being rolled out at an unprecedented pace are starting to appear as if they may well be acts of futility thrown against the wall like cooked pasta to see if one might stick.”

“Do you ever get the feeling that the banksters, political generals and politicians may have gotten Mother Nature really angry? The pilots of Space Ship Earth are so far off course that it is a daily comedy of errors.”
-On the Bloomberg story, “Alaska volcano eruption shuts oil terminal.”

“There simply is no practical solution to this disaster outside of its eventual working through the entire system. No government nor any group of governments with all their printing presses can equal the size of the problem given to us by the madness of the bankster’s greed.”

US Precious Metal Coin Shortage Continues

Seems the US Mint just can’t keep up with gold and silver demand. Continuing silver, gold and platinum shortages have forced the mint to curtail production on many coins. A year ago they offered:coin-silver-eagle-wht-back_70x70

American Silver Eagle 1 oz Bullion Coin (investor)
Uncirculated* American Silver Eagle 1 oz. (collector)
Proof American Silver Eagle 1 oz. (collector)

American Gold Eagle 1 oz Bullion Coin (investor)
coin-gold-eagle-wht-back_70x71Uncirculated* 22K American Gold Eagle 1 oz. (collector)
Uncirculated* 22K American Gold Eagle 1/2 oz. (collector)
Uncirculated* 22K American Gold Eagle 1/4 oz. (collector)
Uncirculated* 22K American Gold Eagle 1/10 oz. (collector)
Uncirculated* 22K American Gold Eagle 4 Coin Set (collector)

coin-gold-buffalo-set-70x66Uncirculated* 24K American Gold Buffalo 1 oz. (collector)
Uncirculated* 24K American Gold Buffalo 1/2 oz. (collector)
Uncirculated* 24K American Gold Buffalo 1/4 oz. (collector)
Uncirculated* 24K American Gold Buffalo 1/10 oz. (collector)
Uncirculated* 24K American Gold Buffalo 4 Coin Set (collector)

coin-gold-buffalo-wht-back_70x66Proof 24K American Gold Buffalo 1 oz. (collector)
Proof 24K American Gold Buffalo 1/2 oz. (collector)
Proof 24K American Gold Buffalo 1/4 oz. (collector)
Proof 24K American Gold Buffalo 1/10 oz. (collector)
Proof 24K American Gold Buffalo 4 Coin Set (collector)

Uncirculated* American Platinum Eagle 1 oz. (collector)
Uncirculated* American Platinum Eagle 1/2 oz. (collector)
Uncirculated* American Platinum Eagle 1/4 oz. (collector)
Uncirculated* American Platinum Eagle 1/10 oz. (collector)
Uncirculated* American Platinum Eagle 4 Coin Set (collector)

coin-platinum-eagle-wht-back_70x70Proof American Platinum Eagle 1 oz. (collector)
Proof American Platinum Eagle 1/2 oz. (collector)
Proof American Platinum Eagle 1/4 oz. (collector)
Proof American Platinum Eagle 1/10 oz. (collector)
Proof American Platinum Eagle 4 Coin Set (collector)

Now (March 2009) the only coins from the above list you can still get are:

American Silver Eagle 1 oz Bullion Coin (investor)
American Gold Eagle 1 oz Bullion Coin (investor)

*The term “uncirculated” refers to the specialized minting process used to create these coins. Although they are similar in appearance to American Eagle Bullion Coins, these new uncirculated coins are distinguished by the presence of a mint mark, indicating their production facility, and by the use of burnished coin blanks, which are hand-fed into specially-adapted coining presses one at a time.

Each American Eagle Uncirculated Coin is carefully inspected before it is encapsulated in plastic. With its pristine finish now protected, each American Eagle Uncirculated Coin is placed in a traditional, satin-lined velvet presentation case. A Certificate of Authenticity is included with each American Eagle Uncirculated coin.