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A-Mark Bullion Update

Blog Dec 6, 2016

A-Mark-Precious-Metals-Inc12.06.2016 The Dow reached an all-time high yet again yesterday and the USD remains at lofty levels.  One, or both, of them is going to have to give up recent gains in order for gold and silver to break higher from current levels.  The major sovereign mints of the world are in the process of switching production from 2016-dated to 2017-dated coins.  In the US market, the two sovereign mints that garner the most attention from participants are the Royal Canadian Mint and the US Mint.  The RCM normally releases newly dated coins in the late fall/early winter of the former calendar year, and as such, this is the first week that 2017-dated RCM coins have been available for sale.  The US Mint’s transition to new calendar year coins is generally not as smooth.  By law, the US Mint can’t release new calendar year coins until the actual year begins.  It then becomes a balancing act of making sure there are enough coins to satisfy demand to last through December BUT also not to have too many coins so that they’re carrying over inventory into the new year.  In years past, there has been excess inventory that authorized purchasers have been forced to take along with new coins.  It looks like that will not be the case this year though.  The US Mint has already sold out of every gold coin except the .5 oz Eagle and the 1 oz Buffalo (both are almost sold out).  As such, premiums on all eagle sizes have gone higher.  They will likely remain above normal market premiums through the end of the year.  I would expect that premiums will be back to normal in mid-January when the 2017-dated coins are available.

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Lynette Zang

Chief Market Analyst, ITM Trading

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