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Tue Dec 30, 2014, 02:34 PM

 

U.S. Mint Gold-Coin Sales Head for Biggest Drop in Eight Years

By Debarati Roy Dec 30, 2014 12:21 PM ET

Gold’s lackluster performance is turning off coin buyers, with sales at the U.S. Mint heading for the biggest annual drop in eight years.

Purchases of American Eagle gold coins reached reached 524,500 ounces in 2014, down 39 percent from 856,500 ounces in 2013. In December, sales fell almost 70 percent from a year earlier.

Gold prices are little changed this year, trailing advances for equities, the dollar and Treasuries. Gains for the U.S. economy cut demand for a store of value, while a collapse for oil futures signaled inflation will stay low.

“People wanted to be in assets that were winning,” George Gero, New York-based precious metals strategist who helps manage $500 million at RBC Capital Markets LLC, said in a telephone interview. “There is very little interest in gold and we have seen interest in gold decline through the year.”

more...

http://www.bloomberg.com/news/2014-12-30/u-s-mint-gold-coin-sales-head-for-biggest-drop-in-eight-years.html

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Reply U.S. Mint Gold-Coin Sales Head for Biggest Drop in Eight Years (Original post)
Purveyor Dec 2014 OP
nichomachus Dec 2014 #1
MrScorpio Dec 2014 #2
nichomachus Dec 2014 #3
hunter Dec 2014 #4
arcane1 Dec 2014 #5
Cayenne Dec 2014 #6

Response to Purveyor (Original post)

Tue Dec 30, 2014, 02:50 PM

1. That sucks

for all the suckers who bought into the gold buggers' advice to put all their money in gold, when it was at $1,900. Today it's $1,200. That's quite a hit.

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Response to nichomachus (Reply #1)

Tue Dec 30, 2014, 02:59 PM

2. Another fine example of why no one should listen to conservatives nt

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Response to MrScorpio (Reply #2)

Tue Dec 30, 2014, 03:18 PM

3. Conservatives -- on the wrong side of every issues since ... well, forever n/t

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Response to Purveyor (Original post)

Tue Dec 30, 2014, 03:21 PM

4. You can't eat gold.

But it's an excellent conductor of heat and electricity, makes pretty jewelry, and is also a superb lower toxicity heavy metal for making ammunition.

If it was up to me I'd outlaw all forms of ammunition but plastic, steel, copper, silver, and gold. (I've been boycotting lead ammunition since I was a kid. It's bad for vultures, condors, and many other birds. Vultures and condors are among my favorite animals; they are humorous and playful birds, even though their food preferences are a little unappetizing. Condors and vultures will eat things our most disgusting dogs wouldn't roll in.)

Police departments would only be allowed to use gold and plastic ammunition. Cops caught with any other sort of ammunition, even at the firing range, would face a mandatory five year prison sentences, preferably sharing a cell with someone from a community they've abused.

A pleasant consequence of these regulations would be that all the rotten police departments would never have any metal ammunition as it would be stolen by rotten cops, and the more honest police departments would be reluctant to spray off multiple rounds of expensive gold bullets in situations that really didn't demand it. Even here in the trigger-happy U.S.A., such demanding situations are incredibly rare, no more than zero, one, or two annually, against bad guys who are very clearly and indisputably bad.

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Response to Purveyor (Original post)

Tue Dec 30, 2014, 03:45 PM

5. I never really understood why it's so valuable anyway.

 

It reminds me of placing enormous value on a mint-in-box action figure

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Response to Purveyor (Original post)

Tue Dec 30, 2014, 04:34 PM

6. All time record high for silver though

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