by John Rubino
Precious metals advocates have been warning for years that the time to load up on a safe haven asset is before it’s needed, because by the time it is obviously needed it won’t be available. That seemed a bit hyperbolic in a world of smoothly functioning markets and apparently infinite horizons of steady growth and diminishing risk.
But that world is gone and just as Jim Rickards, Peter Schiff et al predicted, everyone suddenly wants gold and silver coins. And no one can get them. The US Mint is out of silver eagles and the Royal Canadian Mint has temporarily ceased operations. Even the miners themselves are closing due to coronavirus concerns. Here’s what the US Mint’s silver eagle sales looked like before they ran out: