The US Mint Website is Crashing, Extraordinary Volume of Traffic
Because of the outrageous demand for silver, once the mint announced a pre-order opportunity for a new silver dollar (2021 Morgan Dollar), the website was barely able to keep up. They describe the issues as "website anomalies" that did not allow users to complete their transactions.
Extraordinary Volume, Continued Low Silver Price
This is further indication of the demand for physical silver, while the supposed bullion price is still under $30.00. Most students of finance know that this is artificially low, compared to the real-world demand for physical silver bullion.
Pfft, really?
$100 /oz Silver
Typically, silver dollars sell for about 20% over spot price, which means this coin should be sold for under $35.00 - but even with the outrageously expensive price tag of $85.00, they cannot mint enough of these coins to meet demand.
Considering this coin contains .858 troy oz of silver, an overwhelming number of buyers are willing paying $100.00 per troy oz silver. Yes, $100/oz silver. And we're supposed to believe it's really worth under $28/oz?
One could say it's the NUMISMATIC value that creates such a premium, but c'mon really? Is the Morgan design really that attractive?
Demand is Greater Than Supply
When people say that demand for silver is higher than supply, they're not pulling this idea out of a hat. It's not some alex-jones type conspiracy website telling them this. Sources like the United States Mint are acknowledging the silver shortage and supply/demand ratio.
When the US Mint tells you about the supply and demand of silver, listen very carefully.
Think Maybe They're Stalling For Time? Why?
I know they say it's because of the website, but isn't is quite possible that they are expecting more pre-orders then they have bullion? Are they stalling for more time to find the raw material to meet projected demand? Reading between the lines, they are already preparing buyers that not all orders will be fulfilled, even with the delayed launch date.
"While inconvenient to many, this deliberate delay will give the Mint the time necessary to obtain..."
Web management tools? Really? C'mon US MINT, come clean. This is not about a website, this is about bullion. You need more time to gather the silver bullion to mint enough coins to meet demand.
They continue "The demand for silver remains greater than the supply, the reality is such that not everyone will be able to purchase a coin."
If the US Mint needs extra time to meet bullion demands for 175,000 coins, the silver squeeze is sqeezier than we thought!
Bless the Most High!
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