Today, June 2, the United States Mint offered a "point of clarification" to a public message issued last week regarding the postponement of 2021 Morgan and Peace Silver Dollars.
In their initial message, the U.S. Mint in part briefly discussed a silver shortage, stating:
"The global silver shortage has driven demand for many of our bullion and numismatic products to record heights."
In their clarifying statement released today, the Mint said:
"In a message released Friday, May 28, we made reference to a global shortage of silver. In more precise terms, the silver shortage being experienced by the United States Mint pertains only to the supply of silver blanks among suppliers to the U.S. Mint."
Blanks are the disc-shaped planchets coining presses strike to make coins. The Mint has been rationing their silver bullion and silver numismatic products due to a limited supply of silver blanks.
No mention of the shortage of brains & common sense & customer care @ US Minty
Come on, man.
It took over 4 days for the U.S. Mint to issue this very important statement of their massively wrong original statement!! The inept management team at the U.S. Mint is feeble – especially the U.S. Mint Director David J. Ryder.
NumisdudeTX
Oh thank you for the “POC” from the great Wizard, and with free shipping. This shortage of silver or silver blanks is like saying there is a shortage of air, or a shortage of guns. Let just start at the beginning, We have a department of the Treasury and they have no idea how to manage money. Tell us something we dont know minty lol overall they are just trying to cover their derriere, for their fiasco. It’s the good ol’; mask up, wash your hands, pass the blame, deal.
Amen I agree 100%
When I was quite young, I wrote a letter to National Geographic about that woodcut. I even got a response from Mr. Grosvenor himself. Very groovy.
My biggest gripe is the accompanying message I received 2 days after the yet again fiasco of their internet inefficient web site that made a very difficult engagement of completing my order. It took 3 or 4 tries of going back and forth with messages of checking “my browser” as if my side of the collaboration was the interfering disconnect. I was finally able to lock in my order of CC & O Morgans. You’d think after the fiasco of the crash of their web site during the Baseball Hall of Fame coins they would have gotten their system right,… Read more »
At least you got them, I wasted an hour of my life trying to pay for an empty cart.
What does this say for pieces of like 1897 O silver dollar
so it isn’t a ‘global’ silver shortage, just a shortage from their suppliers. thanks for the clarification.
however that doesn’t explain why the mint web site crashes, nor does it explain why they see it fit to allow people to gobble up 10 coins per order.
I agree with you. Not soon after the coin sale there lots of them for sale on ebay for much more than the Mint charged for them. That is an indication of over sale to too few of buyers and locked out collectors from getting any at Mint prices.
The inefficiency of the online ordering system is the main reason I stopped buying the brand new releases from the Mint. It was an easy to unsubscribe from their emails and I get my news right here. I’m a casual coin collector and being shut out repeatedly over the years was taking a lot of fun out of it. Most of my purchases are from my local coin shop where I have been a long time customer and am treated favorably.
Sounds like a crock of sh#t to me! They knew that 177, 000 issues each of the privy mints for New Orleans and Carson City would create a modern day rarity. This was planned ahead of time!
I had my wife, 2 sons, and myself all trying to order to ensure that at least one of us would be able to obtain the 3 coins we were looking to purchase. None of us were successful. System totally failed. What a big let down not only to myself but to my kids which I started in coin collecting when they were 10 and 12 yrs. old.
It’s a shame that the Mint has abandoned their loyal collectors to sell these Morgan’s to investors to sell on EBay now for $300!. The Mint forgets that these investors won’t be interested in buying the routine products which I suspect makes up the lions share of their profits. If I were the Mint I would focus on selling to collectors who had accounts for decades first and then opening up any remaining unsold coins (doubt there would have been any Unsold CC) to investors. I suspect, like me many collectors were cheated of buying these coins (dropped out of… Read more »
Yeah I’ll just keep the value waiting the silver, And you will find out that silver will be worth more than gold, This manipulation of silver has got to stop silver should be closer to gold’s prices being that silver’s worth more to the industry then gold is, Real Americans will buy silver because silver goes into solar panels rings Cell phones, And even food as far as I know medication, comma so don’t let these idiots fool you it’s for you in saying that silver’s not worth at least 2000 and ounce, That’s right folks, that’s $2000 an ounce… Read more »
I’m fairly certain the Fed suppresses the price of silver since it already has a hard time keeping gold down. It knows it’s likely it can’t keep the lid on two precious metals.
I’m not sure what your motive is, but there’s absolutely no basis for $2,000 per ounce silver. There are industrial applications for gold within electronics etc. You seem to claim that there is no industrial demand., That’s not true. Study the history of the ratio between cost per ounce of silver vs cost per ounce of gold, then adjust for supply annualized and demand annualized. For a while silver was down around 75:1 (silver vs gold). More recently it increases to 60:1. There is an argument, with history supporting silver increasing to 50:1 putting silver at around $36 an ounce.… Read more »
So it’s not a global silver shortage after all, just can’t get the silver rounds. I believe it 100%.
You’ve just described “Basel 3.”
Check it out:
https://www.numismaticnews.net/coin-market/why-basel-3-accords-may-not-boost-gold-silver-prices