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BUY SILVER BULLION NOW!!
It’s prime time: Buy Silver Bullion NOW! It is the new wave of the SILVER SURGE. Gold and Silver bullion prices are soaring right now. Silver has nearly doubled since the height of the Covid-19 pandemic. In addition, Gold is setting an all-time record high. Daily. We can thank this pandemic for that. But what you probably might not know is that the National Coin Shortage is affecting precious metals as well.
National Coin Shortage – The Precious Metals Cause & Effect
If you are like me, you spend your cash and save your coin. I typically let my coins stockpile in an old 5-gallon water dispenser jug. It is a way to save money without even thinking about it. Occasionally, I do sneak in it to take quarters out for my Sunday papers when I can get to the Newspaper Box. I am an extreme couponer and stockpiling the savings is my thing! Including hoarding my coins. But with the coronavirus pandemic, doing so is proving a bit challenging.
I am sure most of you – that dare venture out into the world during this pandemic – have noticed signs posted EVERYWHERE! “National Coin Shortage.” “Due to National Coin Shortage, Credit and Debit Cards Only.” “Exact change only.” “Turn your coins in here and receive a free sandwich.” “Round up and donate the difference.”
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Keep the blood circulating – Spend your coin!
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Help the National Coin Shortage!
In this day and age, I am sure you are wondering how this could be? Makes no sense right. I mean, according to the Federal Reserve in April, there is approximately $47.8 Billion dollars’ worth of coins circulating. That should be more than enough right? Well, this Global pandemic has hit every facet of our economy. Including the U.S. Mint.
Covid-19 – Affecting Shortages
As Covid-19 continues to flourish and shows no apparent signs of subsiding, places everywhere have been and are affected. The U.S. Mint took precautions back in March to help slow the spread of the coronavirus, as well as ensure the safety of their employees.
These precautions included: shutting down the San Francisco Mint, closing Mint shops, ceasing public tours, and ultimately, headquarters staff were ordered to work from home.
Then the West Point Mint announced an employee tested positive for Covid-19. Thus, resulting in shutting down the West Point Mint as well. Two of four mints closed. Half of our coin minting stopped. Just like that. Including circulating AND numismatic coins. Affecting not just the retail economy on being able to provide proper change, but on coins such as American Gold & Silver Eagles, where people purchase them for cash deferment or stockpiling, or even coin collecting. But the U.S. Mint closures aren’t entirely culpable for this coin shortage.
Plain and simple: The coronavirus pandemic has created a major economic slowdown. Even with the all the Mint’s operating, there are still precautions to be taken. Social distancing! We see those signs everywhere as well. Maintain 6-feet apart. It is not just out in public where the eye can see – like grocery stores, pharmacies, restaurants, etc. It’s in businesses everywhere. Including the U.S. Mint. Employee hours limited, shift changes, limited production stations, etc.
Since mid-June, the Mint has been operating at full capacity. Desperately trying to catch back up to normal production in order to curtail the impact of the shortage. As well as INCREASED production amounts. But here it is the end of July and we are still seeing the major effects of this coin shortage.
Why are we STILL seeing the effects of this?
Less Cash = Less Coin
This results in limited productions. Which also results in rationing what is sent to banks around the country. All in an effort to make sure these limited productions get spread out across the county.
Not to mention, as the nation’s businesses have been reopening, the demand for coins has exceeded the available supply. When many businesses were closed, we didn’t have a chance to notice the shortage. But as they have opened up, Americans have ventured out.
Coin Circulation – The Blood Flow of the American Economy
Additionally, as people use less cash and coin, less gets recirculated through the economy. We should have enough coin already circulating to stay afloat through this; however, there’s the people like me – that hoard them in water jugs. There’s others that have coins strewn about in odd places. Tossed aside to never be thought about again. Retailers urging customers to round up to limit the amount of coins being recirculated. “Until coin circulation patterns return to normal, it may be more difficult for retailers and small businesses to accept cash payments,” the Mint said in a statement Thursday. “For millions of Americans, cash is the only form of payment and cash transactions rely on coins to make change.” Not just Americans purchasing items. But some businesses rely solely on coinage.
For instance, coin only Laundromats. Quarters are the commodity of the day! I remember when my washing machine decided it didn’t want to work for free anymore. Apparently, it paid off its debt and was tired of being used for free. So, I decided I would get even with my washer. I paid another one to do the work for me! That backfired. Some laundromats offered coin free service with re-loadable cards. But the ones closest to me, required quarters only. I could spend $20 in quarters easily to wash and dry a week’s worth of laundry. That’s 80 quarters. Which may or may not seem like a lot, but it sure does fill a coin bag and with many others out there who may solely rely on a laundromat, those coins add up quick.
How it Affects Precious Metals?
In addition to the coin shortage, Covid-19 caused mines to shutdown as countries went on lock down. Limiting available silver reserves to above ground reserves only. Which took its own toll on the economy.
With the mint’s shutdown it limited their productions, including those of American Gold and Silver Eagles. The American Silver Eagle bullion coin has been primarily minted out of the West Point Mint. During its shutdown, the Philadelphia mint took over production. However, it only struck 240,000 bullion coins total.
As the mint has reopened and is working fervently to slow the coin shortage, coins such as the American Eagle, are a back burner production. It doesn’t mean they aren’t being produced, it just means the focus is on circulating coins.
All of which does affect precious metals. Which affects local gold and silver dealers.
With recent gold bullion prices seeing record highs this month versus previous years, many are taking advantage and hoarding for the “right moment” to sell or fear base purchasing. Despite the Mint seeing a record sell-out of the American Silver Eagle in March, the fear based gold purchases are leaving the lonely wanderer in Silver. Truthfully, because many see Silver as a declining commodity based on news hype of “rapidly declining silver reserves” and “all time spot lows.” Which were seen in March when spot was around $12 an ounce. However, Silver is still a very precious commodity. It is like a stealth ninja. Awaiting its chance to sneak in despite rumors of its demise. It’s chance is NOW. Silver has nearly DOUBLED since this pandemic started. NOW is the time to invest. If you didn’t join in on the Silver Splurge, it is not too late! Silver is more readily available. More easily accessible. As well as, very easily expendable.
How you can help Silver Recover? BUY SILVER BULLION!
Vermillion Enterprises has silver in stock. Whether you are looking for small currency in dimes, quarters, and halves. To save on hand in case we do not recover significantly from the National Coin Shortage, or having change on hand to use in exchange for coinage if need be, or due to the dollar value dropping.
Or if you’re looking for something bigger like American Silver Eagles, Monster Boxes, 10 oz. bars, etc. Vermillion Enterprises has it! In stock. NOW! But they won’t last…
In early June, analysts predicted that Silver would see $19 an ounce by the END of 2020. We’re a month into that notion and it has far exceeded that $19 an ounce. You might think, well, I think more people will sell then at this point? Nope. Not with an economic crisis looming during Covid-19. It is causing more Americans to BUY SILVER BULLION!
Where’s the demand?
The demand is in the safe haven need. Everyone surges to buy precious metals. Especially gold bullion. When gold bullion purchases surge – it is time to buy silver bullion. Whether you’re the “Average Joe” like me or a “Big Time Investor.” It is for economic security. Which drives prices up. Gold is becoming a quick flip commodity. Bought in one day. Sold the next. Especially due to it’s record breaking highs. Additionally, scarcity increases premiums on gold. Silver is the counterpart. The more affordable and readily available option.
Not to mention Silver and Gold go hand in hand. If there is a rise in Silver. There will be a rise in Gold. And vice versa. Rarely, if ever, will you see a rise in Gold and a decline in silver. Or a rise Silver and a decline in Gold. They will always remain steady competing partners. Regardless of their monetary value differences. With Gold prices breaking historical records – DAILY, Silver will continue to see a rise as well. Remember, it is naturally volatile, and you may see some small fluctuations, but it will steady out to a consistent rise.
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Silver American Eagles, Silver Bars, Generic Silver Rounds, Generic Silver period. Whether it is 1 oz. or 100 oz. Vermillion Enterprises has you covered. Call or stop by today! I do promise, Silver sells at a quick pace! Remember – it is affordable and easily accessible. Check out our Shop page, or come on down! You are the next contestant on THE PRICE IS RIGHT! The Silver Price that is!!!
So if you live in or near Spring Hill, Lutz, New Port Richey, Hudson, Crystal River, Inverness, Brooksville or surrounding Florida counties – Pinellas, Hillsborough, Citrus, stop in and say hi! Come on in or check out our online SHOP! We buy and sell gold and silver bullion!
BUY SILVER BULLION NOW!!