MxMining

It seems that the Bank of Mexico is going to restrict the selling of the Mexican Libertad Silver Coin to even its' largest customer Banco Azteca.

For the rest of 2008 Banco Azteca will be limited to buying from the central bank just another 60,000 coins which is about equal to Banco Azteca's monthly sales for the month of August and September of this year. I guess that I can expect to go to Banco Azteca tomorrow morning and find absolutely nothing available to purchase as there will probably be a mad rush to get them before you can't.

Banco Azteca is one of the few banks in Mexico that actively markets the silver libertad coins and almost always has them in stock. Usually if they dont have them in stock at any particular branch they will have them within a few days.

While I don't want to be thrown into the tin-foil hat crowd I am starting to get the feeling that something is wrong with the spot price for silver.

When the central bank of the country with the largest silver production in the world decides to stop selling their minted coins to their largest customer something just has to be wrong. Other mints have cited "no access to coin blanks" as a reason for limiting or outright stopping the minting of their coins but I don't think that the Bank of Mexico will be able to use that line.

Right now Northwest Territorial Mint who mints bullion products for Pan American Silver has a delivery waiting period of 12-14 weeks because of the "historic demand" for silver bullion products.

Kitco, a large online bullion dealer, who just 4 months ago had a huge array of physical bullion products to choose from, now has just two available products and you'd better have lots of cash. The available product is either a 400 ounce gold bar or a 1000 ounce silver bar.

Todays silver spot price - just $10.00 per ounce.