LibertadI’m bringing this story as an exclusive to readers here : after the latest attacks on the gold and silver markets, physical demand for the famous one ounce silver “Libertad”  has soared in Mexico.
In January, February and March, the total Libertad sales by the Bank of Mexico was 46,714, 82,634 and 44,063 ounces, respectively.
As of Wednesday April 23, Banxico had already sold more than 174,000 ounces this month!

In other words, more silver was sold by the Bank of Mexico in just the first 23 days of April than were sold in the entire first three months of the year combined!
Submitted by Guillermo Barba via Google Translate:

 

Domestic savers are awakening from a long sleep well, prompting

in 2012, it had unafuerte fall in demand for these coins,as we reported in January.

After this “break” last year, Mexican investors are returning not to liquidate ounces, but to buy all they can.
And according to data provided by the Bank of Mexico (Banxico) to this reporter, through official OFI006-8614 , on Wednesday April 23, they had already sold more than 174,000 ounces this month.
In other words, more silver was sold in just the first 23 days in April than were sold in the entire first three months of the year combined, and most likely the majority of sales occurred during the last two weeks!
In January, February and March, the total of these coins put into circulation was 46,714, 82,634 and 44,063, respectively.
Why sell like hotcakes? Well, input silver Libertad coins are prices not seen since 2010, about 350 pesos each to date. A 40 percent cheaper than just two years ago in late April 2011, when they played their record over 610 pesos.
Most of the banks offer their customers, but I suggest you compare prices before buying.
The most important thing is to understand that the main reason that this demand has been fired, is that gold and silver are the ultimate safe havens, real money,which has been offering half of the economic crisis that is far from over in the world.
It’s as if someone had put a lifeguard present sinking ship.
It is gratifying that Mexico is not the exception to the rule, as in other parts of the planet is also experiencing this fever for physical precious metals.
In the U.S., the Mint (U.S. Mint) had to cancel this week selling their coins tenth ounce of gold, then sold their stock. To date sales accumulated 203 000 500 ounces of gold, rather than the previous two months together and that total January.
In a previous post, figured out how the World Gold Council (WGC, for its acronym in English), described as a “massive wave” the appetite of investors for monetary precious metals. Also how in China and India, the main consumers internationally, there are reports of high premiums, that is, cost overruns, that people are willing to pay just to get coins or bullion, on the other hand, are scarce in Dubai .
These signals contrast with the massive sales of gold and paper silver futures market , which are responsible for having thrown overboard prices.
To put it very clear, we must insist that these sharp falls behind, there are powerful financial interests led by the U.S. Federal Reserve (Fed), which have always had a special interest in maintaining depressed gold prices.
The reason is simple. This is the thermometer tells us without error, how bad are things in the economy, particularly in the global financial system. Their quality universal money, plus his “sin” of not being able to be reproduced at will by governments, make it public enemy number one of his corrupt fiat currency(dollars, euros, pounds, etc..).
So the ideal tool are derived, “gold” and “silver” paper that can be created even without limits, of course, provided that the holders do not demand physical delivery of their treasure, because there is no metal to reach for everyone. A fraud.
In this sense, every attack as witnessed in mid-month, there is evidence of massive sales coordinated actions of these papers to influence or manipulate, lacotización of these precious metals down . The rest is technically responsibletraders , robots and algorithms, which magnify the negative effects to play critical levels.
The bad news for handlers is that you can create all the metal paper they want to sell, but the actual stocks are limited and people are going for them. The increased physical demand data speak for themselves, as well as the collapse losinventarios like never before existing in the COMEX ( Commodity Exchange ).This blog also notice this on April 12.
What happens when that gold holders want paper delivered to them physically?
That’s right, someone would be wrong. It is not difficult to foresee that arrived that day, those affected will be settled with paper money under clauses “force majeure”. The market, in the end, always prevails. So the rally of gold and silver, after this correction artificially accelerated, continue in this decade to unknown limits .
Every day more people know this reality and as in the game of musical chairs, the better you are taking their gold and silver at home, before the end of the music along with the fun, and no place to stay, with empty hands.
  1. It’s great to be hearing reports and opinions from seldom-mentioned sources. The only time we’re treated to info on the Mexican scenario is when Salinas-Price makes MSM headlines. Over on the FB side, for instance, Cihat Çiçek has been reporting regularly from Turkey with some GREAT local data, conditions and feedback on world events from Turkish perspectives.
     
    Yeah … sometimes the translation into English is a bit halting and mildly confusing, but FAR preferable than if no effort was made or ‘editorialized out’ of the discussion stream. In fact … there’s a thought … The Docs might consider as a unique ‘differentiator’ for the SD Website … ‘Reading the pulse of the PM World’, by sampling conditions and commentary from all the obscure corners of the Earth that the MSM turns its nose up to.

    • “The Docs might consider as a unique ‘differentiator’ for the SD Website … ‘Reading the pulse of the PM World’, by sampling conditions and commentary from all the obscure corners of the Earth that the MSM turns its nose up to.”
       
      Terrific idea, Pat.  Hope that TPTB on SD give this some serious consideration.  :-)

  2. I think a lot of people here do not understand very well the meaning of increased premiums for silver.
    My friends, you talk a lot about Sell BRUTTO Price for silver only.
    But you always ignore and forget about such an important concept, as Buy Back Price.
    So, where do you see the growth of premiums on silver? In the Sell BRUTTO Price only!
    But what about the premium growth in the buy-back prices of silver ? It does not exist!
    Buy-back prices of any silver – this is actually the spot price right now!
    Thus, the cartel has reduced the investment appeal of silver for all new entrants. Which makes sense to buy an asset, with a high purchase price and the lowest selling price? Who will buy such asset and for what?
    I am not opposed of silver. I just want you to understand the cartel’s intentions correctly. And I do not want you (we all) have built their plans on the foundation of our dreams. In my view, the cartel has found a very effective way to reduce the demand for physical silver by raising selling prices only.
    Please think about it.

    - Who will buy silver, if the sales price will be 100% or 200% higher than the buy-back prices?
    – Who will buy silver, if the any purchase and sale of this asset, “via one window right now”, brings investors losses in the amount of half from all their money?
    I think we have seen the cartel attack on the silver. Gold in this attack, only played the role of a tool to attack the silver.
    Cartel wanted at all costs to get people to stop buying silver. Even at the cost of switching attention of investors to gold.
    And the cartel has achieved its goal. Now in the world there is increasing demand for gold. In addition, the growth of premiums only on the sale price of silver to 6 times, made ​​the purchase of silver is much less profitable.
    But that’s about it, for some reason everyone is silent.

    • This is complete nonsense. Buyback premiums have gone up significantly at many places. Last week when i took a trip to purchase more silver form my LCS, he had a sign up for buy-back prices of $26/oz for silver and $1500/gold and that was at 23.50 silver and 1400 gold. This LCS is part of a successful chain that his been in business in my area for well over 50 years. They have deep pockets and understand this market and business very well. The owner told me he is offering the premiums because people are not selling to him. He went on to say that many smaller, less competitive coin shops will go bust if this persists because they are not adapting to this environment.

  3. This is not what you think. The folks down in Mexico are just as clueless about silver as the rest of N. America. My in-laws in Mexico will not buy silver anymore than friends, family and in-laws here in Ohio. Last Nov. my wife went to Morelia, Michoacan to to visit her family. While there I asked her to buy me Libertads. Only one bank in the entire city of Morelia had them! They only had two coins. We bought them both for 340 pesos ea. After 2 weeks of searching she found two more in a flea market. For years I have been trying to explain the global financial situation to my in-laws down there, but as yet, they have not even began to prepare for the Event! They are highly educated people, lawyers, doctors, business owners… People who can afford to buy Ag or Au. It is my guess that most of the Libertads sold, are being sold outside the country. Mostly the in U.S.? The bank that sold us the coins told my wife that she had bought the last two and they wouldn’t sell them any longer due to lack of interest.

    • The general population is clueless, but the Drug Trafficers are likely the big buyers.
      The know the paper is going to become worthless and very soon

    • @Citizen: Exactly. I didn’t mean to say that there are no people in Mexico that get it, there are. I only mean to say that the average person there is in the matrix too! The matrix includes all cultures, languages and geographic regions! Yes, even Asia! It’s omnipresent. Also, the average global daily wage being 2$, most of humanity can’t afford even a little Ag even if they’re awake.

    • @Citizen: My wife’s niece had one Libertad. It was given to her by her new husband, a federal lawyer in Mexico City. He got it from the federal police who had raided a drug cartel house. He told my wife that they “the cops” had found boxes of them. You are right. The drug cartels are buying them in quantities.

  4. Perhaps the Drug Cartels know what’s ahead….
    That Fiat Paper Currencies are becoming worthless and their seeking refuge in prescious metals?
    ~
    The new USD $100 Fed note is coming this Oct 2013….
    The FED will likely order a REDEMPTION / CONVERSION into the new notes….
    “you got 10 days to exchange your old C notes, else they become worthless?”
    Imagine the bank runs on HSBC by the Cartels to launder their remaining notes???
    ~
    There might even be a 10:1 exchange ratio plus a 10 day window….
    Nothing would surprise me

  5. These are some thought provoking posts.  Maybe SD could have an international section of the site where people from other countries make their opinions known, providing insights to the situation from various countries.  The global situations are different from ours, with governments taking on courses that might be a game changer for us.  We’ve heard from Ich1baN from China, and people in Slovenia and Cyprus.  These voices can help fill in the overarching themes.  Just because the US is the reserve currency and biggest monetary manipulator does not make it the loudest voice.
    Everyone is affected by these events in the precious metal markets, currency devaluation and supression of the people’s voices.  I’d like to hear from people in Argentina, Venezuela,  Greece Spain, Italy and other countries under the oppressive boot of central bankers and governments.  And these people might want to note what country they are from.  The fact that these people do not have a precise writing style in English means nothing. We can understand their message.  Precious metals have a voice of their own and we understand that one.

    • “Just because the US is the reserve currency and biggest monetary manipulator does not make it the loudest voice.”
       
      Oh, the voice of the US IS definitely the loudest one out there but that in no way makes it right.  ;-)
       
      Agree on the terrific comments as well.  Hearing from people in other parts of the world is great and the more of that we have here, the better.
       

  6. What percentage of Libertads is minted for domestic demand, and what for exports? So many European bullion dealers carry them…
    That said, my dealer got a cancellation around Feb of one of his two ex-Mexico Libertads deliveries. they just decided to not honor it anymore. My dealer proceeded to bump premium quite a bit, knowing he’d not get new ones too easily, and the ones he had were paid expensively. He said the Mexican mints (for whatever reason) doesn’t make enough of them.

  7. Silvermail  The idea of a flag symbol would be a  good idea.  I have alot of respect for people who share their thoughts and opinions on this site.  we get some good intel from people in the street instead of a black hole of non-information or something more like a subscription service written by or for a particular position about one country or another.  The subscriptions I take are often pointed towards buying more papers or property in that country.  So the specifics of what is going on in any country would give us a broader perspective of that country’s currency, inflation rate and attitudes towards PMs.
    The notion of the cartel buying silver and gold is smart.  Since they are tightly connected to the banks laundering their hundreds of billions in FIAT, they are certainly smart enough to figure out that their business and its cash is a model and commodity that has great risks.  It is pretty common knowledge to anyone who studies these currensy cycles that the FIAT world has problems, particularly our Benjamins.  Silver and gold are largely untraceable, fungible, divisible and have a unique ability to retain value.  Just because someone moves large amounts of drugs does not mean they are unaware of currency cycles and the value of real money.  It makes sense they would be uberstackers. They hire first rate financial counselors and advisors to this end.  Who knows, maybe they read Silver Doctors.

  8. Not to glorify the Drug Trafficers…. BUT those boyz are dumb…
    ~
    As “true” capitalists, they know the value of REAL money as compared to the FIAT paper that ALL governments are pushing to cover their debts.
    ~
     As things are progressing now…. a lot more things are going to become “black market” bartered.
    REAL Food and not GMO is going to become the final frontier for survival.
    ~
    The “WAR ON DRUGS” was lost back in the 1980′s and now the Chinese banksters HSBC are laudering the cash.
    Face it people… we’re just sheeple to them
     
     
     

    • “Face it people… we’re just sheeple to them”
       
      Do we really care what we are to the scum of the Earth?  Far worse would be if WE thought that we were sheeple.  ;-)
       

  9. I own more libertads than ASE’s by far.  Libertads have always been cheaper.  The mintage is usually lower than ASE’s as well.  My favorite Mexican Silver pieces are the 1947 and 1948 5 peso coin.  Those weigh more than our Silver dollars and WERE in the past also  cheaper than their US counterparts.  I own lots of those in mint state as well.  Come to think of it I have a lot of Mexican Silver.  

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