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Physical gold squeezed further; Royal Canadian Mint shuts down production for two weeks
Kitko ^ | 3/20/2020 | Neils Christensen

Posted on 03/21/2020 7:52:30 AM PDT by JonPreston

(Kitco News) - The physical gold and silver market just became a little tighter in the near-term as one major mint is shutting down operations for the next two weeks.

-snip

Last week, the U.S. Mint announced that it sold out of American Eagle Silver Eagle bullion coins. It said that demand for silver coins has jumped 300% compared to sales in February.


TOPICS: Business/Economy
KEYWORDS: covid19stockmarket; gold; royalcanadianmint
Despite the spot price of silver and gold, the cost of buying a silver or gold silver eagle coin (or other coins) is skyrocketing. Those who took physical possession of coins or bullion are winning.
1 posted on 03/21/2020 7:52:30 AM PDT by JonPreston
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To: JonPreston
But we (at least I) do not plan to sell.

Not sure how much I would have to get for silver bullion but "No gold for you!"

2 posted on 03/21/2020 7:58:01 AM PDT by Aevery_Freeman (So, Wuhan China had a Bio-weapons Lab...who knew?)
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To: JonPreston

I think I have enough gold and silver.

A bit short on lead.............


3 posted on 03/21/2020 8:06:05 AM PDT by Balding_Eagle ( The Great Wall of Trump ---- 100% sealing of the border. Coming soon.)
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To: Balding_Eagle

Agree ! Getting my shiny Little Lady loaded...


4 posted on 03/21/2020 8:16:33 AM PDT by nevermorelenore ( If My people will pray ....)
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To: JonPreston

Governments are dying to use this opportunity to eliminate the gold standard entirely, and to force all transactions to go cashless.


5 posted on 03/21/2020 8:19:28 AM PDT by I want the USA back (The US media is the most destructive, mendacious irresponsible institution that there is.)
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To: JonPreston

Bought my PMs years ago. If I sold today it would be at a loss. However, I’m not planning on selling.....now.
When I bought into PMs, it was as an insurance policy and that is what they will remain to me.....for now.


6 posted on 03/21/2020 8:36:51 AM PDT by Roccus (Prima di ogni altra cosa, siate armati!)
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To: JonPreston

Amazed at how low PM prices are right now.......almost doesn’t make sense........I’d think gold would be near $2k and silver near$30......


7 posted on 03/21/2020 8:44:48 AM PDT by Arlis
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To: Balding_Eagle

You need lead to keep your gold and silver you know.


8 posted on 03/21/2020 9:00:25 AM PDT by George from New England (escaped CT in 2006, now living north of Tampa)
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To: Arlis

Check Ebay to see what folks are actually paying for bullion.


9 posted on 03/21/2020 3:25:46 PM PDT by Eagles6
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To: Eagles6

But doesn’t that just tell you what people are asking? Not what they are selling for?


10 posted on 03/21/2020 6:55:00 PM PDT by Arlis
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To: Arlis
The posted "Buy it now" prices are in line with what people are paying in the auctions.

Check out both and see.

The spot price is low but there's none to be had from the dealers.

Just like the "free bread" in the former USSR.

It's free but there's never any available.

11 posted on 03/21/2020 7:51:28 PM PDT by Eagles6
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