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View Full Version : Breaking News The US Mint Announces 33% Silver American Eagle Price Ri


411man
October 01, 2010, 13:01
Breaking News The US Mint Announces 33% Silver American Eagle Price Rise

http://www.marketoracle.co.uk/Article23130.html


" BREAKING NEWS: The United States Mint has officially raised their wholesale pricing above spot on American Silver Eagles to all authorized dealers from $1.50 to $2.00, an increase of a whopping 33%. This news comes on the heels of a significant silver spot price rally over the last month to a new thirty year record over $22 per ounce. The impact of this news is significant and has already affected dealer pricing across the country within hours, as prices on Silver American Eagles have jumped over $0.50/oz industry wide. ".

tuck0411
October 01, 2010, 13:35
Got an email from Apmex yesterday mentioning this. They're recommending Canadian 1 oz. silver "wolf" coins as an alternative at $1.99 over spot.

http://www.apmex.com/Product/59085/silverwolf.aspx

2barearms
October 01, 2010, 21:13
I'll wait and see what happens before I buy any more.

RG Coburn
October 02, 2010, 07:38
The silver Eagle hasn't changed in value,the dollar which you purchase it with eroded in value. By 33% apparently...

TheOtherChris
October 02, 2010, 10:58
And that is the problem with the headline; it is deceiving.
The US Mint did NOT increase the price of an Eagle by 33%.
They increased the wholesale mark-up over spot by 33% (which is only 50 cents).
It has little to do with the drop in value of the US dollar.
It has everything to do with a bankrupt government intent on increasing revenue streams wherever it can. I think we can all expect to see more instances of the government increasing fees/taxes, etc. in the future.