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View Full Version : US Mint Silver Usage and POS


Johnnyzed
11-12-2010, 02:38 PM
So, in doing some quick calculations the US produces roughly 40,000,000 ozs of silver or about 1250 tonnes. The ASE program will use mint about 34,400,000 coins this year using about 1074 tonnes. Can we assume a good majority of the rest of the silver the US produces would be used in minting the rest of the silver types coins produced? I think it would be pretty close.

Since the US mint has put a current price of $25,95 for the uncirculated 2011 ASE can we infer they don't want the price of silver above that mark or at least close to it?

I could not find figures for the US mints budget, if anyone can find it please let me know. There is not a line item in the treasury budget specific to the mint that I could find. It would be interesting to know how much they pay for their silver an gold blanks.

Maybe this makes no sense, but these thoughts just pop into my head sometimes.

SilverFinger
11-12-2010, 02:54 PM
Johnny, I don't know...all I know is I'm getting ready to bleed them...of their silver