The US Mint advised the largest AP’s on Friday that they had stopped production of 2016 Silver Eagle coins.
After the report triggered a deluge of inquiries to the Mint, their official spokesman is now denying the Mint has stopped production on the coins.
Something is fishy in Denmark…
Editor’s Note: Either the US Mint entirely fabricated their own rumor (possible), or else we suspect that Mr. White’s statement below is only half true- the part that the Mint is continuing to SELL silver eagle coins to the Authorized Purchasers. We will leave it to our readers to make their own conclusions.
According to the public affairs person at the U.S. Mint, the rumor that Silver Eagle production was halted due to lack of demand, is not true. I have been receiving lots of emails on this issue, so I decided to pick up the phone and call Michael White, public affairs person at the U.S. Mint.
I have spoken to Mr. White several times over the past five years on different issues. So, instead of going by secondary channels and the blog-sphere rumor-mill, I thought it best to get it directly from the source itself.
I called up Mr. White and he answered the phone directly. Normally, I would get his secretary or answering service. However, he picked up right away and I told him who I was and asked him if the rumor was true that the U.S. Mint stopped production of Silver Eagles.
Mr. White told me that it was not true as they continue to produce and sell Silver Eagles. I asked Mr. White if he could provide a full statement, and he said that the only thing he would tell me is that they are CONTINUING TO PRODUCE and SELL SILVER EAGLES and the rumor was not true.
I really don’t care about this issue all that much, but feel the best thing to do is to always get to the ROOT OF THE PROBLEM.
It really doesn’t matter if Silver Eagle sales are slower for the short term. As I explained in my article, The Breakdown Of The U.S. & Global Markets Explained: What Most Analysts Miss, we are serious trouble. And this has to do with energy. Without energy, the world stands still.
Moreover, the idea that investors should put 5 or 10% of the wealth in gold and the remainder in Stocks, Bonds and Real Estate is pure INSANITY. Don’t take my word for it…. just stick around for the next five years and find out for yourselves.
Unfortunately, economists and most precious metal analysts don’t seem to understand this basic principle. Which is why I am currently writing another important article titled,UNLOCKING GOLD’s TRUE VALUE: The Economic Code – Finally Revealed.
I will be posting this article tomorrow. I highly recommend the article to all my followers and sites that link my work. This article will show why the value of GOLD (money) is misunderstood by the economists, monetary scientists and precious metals analysts.