Loading ...This article also supports my theory that the US Mint was lying about how many coins were made in the first five days of this month
U.S. Mint Capabilities
With the recent “Sold Out” sign hanging at the U.S. Mint silver eagle program, that’s only being removed today, (but for how long?), I thought it would be interesting to see the dollar value of the maximum number of eagles that can be produced in a single day. Such a figure will help us gauge just how unbelievably vulnerable the enemy’s jugular now is!
According to Ted Butler, the U.S. Mint has bumped productive capacity such that it can produce about 130,000 eagles per day (including weekends), or roughly 1 million per week (that is, IF they secure enough blanks from their vendors). To simplify this, let’s add it up, and round off production to roughly 200,000 eagles per business day.
That’s it, 200,000!
So, let’s scribble off some quick “napkin calculations” to help!
This morning’s silver spot price: $16.10(as of 3:30 a.m., Nov. 17th) + $2 Mint Seigniorage= $18.10
$18.10 * 200,000= $3,620,000.
The U.S. Mint, at today’s prices can churn out a mere $3.6 million worth of silver coins per day. Thursday, when I recorded the episode, silver was at $15.50, and the U.S. Mint could only produce $3.5 million in silver eagles per day!
Wow, Watchman, $3.5 million in silver per day is huge, no wonder silver is languishing in the mid teens!Read More