The Phaserl


Silver Shortage Reaches New Level: The Royal Canadian Mint Turns to Sunshine Mint for Help

from Silver Doctors:

With silver slammed back under $15 yet again Monday, the retail silver shortage, now in its 3rd month, continues to worsen.

As SilverDoctors readers are well aware, the Royal Canadian Mint and the US Mint have been having the biggest difficulties keeping up with the unprecedented physical demand for silver- so much so that Fund Manager Dave Kranzler speculated this week as to whether the US Mint is intentionally diverting physical silver from the retail market in order to satisfy massive physical demand from China and India.

Essentially all RCM products have been NO OFFER at all of the wholesaler/ distributors for nearly a month now.

This while according to Sunshine Minting’s CEO Tom PowerSunshine is already running 24/7 at full capacity and cranking out an estimated 75 million oz in 2015- 3x the output during the famous shortage of 2008! 
Sunshine has already essentially sold forward its entire estimated production for the remainder of 2015, and is currently not accepting ANY new orders!

As we discussed in this weekend’s Metals and Markets with James Turk, the world’s largest physical silver wholesaler and distributor, advised late last week that it was down to offering only 3 inventory items: 2015 Silver Eagles Delayed until Dec 2nd, and offered at $5 over spot in bulk!, 100 oz Asahi bars delayed until Nov 16th, and 2015 Silver Philharmonics, delayed until October 12th!

The 3rd largest US wholesaler/distributor has now stopped taking orders for Silver Eagles altogether, as the Authorized Distributors have now essentially sold forward their expected weekly allocations through early-mid December, at which point the US Mint may well call it a year and shut down production and sales altogether! 


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