***UPDATE*** This just in from my source who said that there would be a shortage of silver at refiners by September/October: “silver is tight as can be. Nothing around in size”
The bullion banks knew that the Mint was going to be forced to release the news that it was out silver – that’s why silver was slammed in the paper market when the Comex trading floor opened. This is as criminal as it gets.
This also means that the Comex vaults are technically out of any silver that they could supply to the mint. CNT is one of the bigger silver custodians and they specifically supply the mint with silver. If the Comex vault operators had customer silver that they could hypothecate to the mint they would be doing that. It tells me that the Comex vault operators don’t think they can get ahold of silver to replace any silver that could be “borrowed” and sent to the mint. Technically, the mint is required by law to make enough silver eagles to meet demand….
Bill Holter broke the news – Silver Doctors confirms:
The US Mint has just notified Authorized Dealers that it is ENTIRELY SOLD OUT of Silver Eagles, and WILL NOT TAKE FURTHER ORDERS UNTIL AUGUST 2015!
This morning we warned that a massive jump in silver premiums was imminent as premiums on 90% silver had tripled in the past 48 hours.
Less than 3 hours later, that has been confirmed as the US Mint has just SOLD OUT ENTIRELY of all Silver Eagles and suspended sales for at least 3 weeks.
The Mint also advised when sales resume Silver Eagles will once again be on allocation.
Wholesale premiums instantly jumped 50% on the news…for the few authorized dealers who had any coins remaining in inventory.
We will keep you updated as the silver shortage progresses. Silver Doctors
Perhaps the trading floor rumors in London about a probable shortage of silver developing by September at the Swiss refineries…As my colleague Rory Hall – The Daily Coin – points out: “they sold out in 2014 in the late fall – October/November – and now they’re sold out by July. They can’t even go a year without inventory running out…”