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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: Bucky Katt who wrote (7278)	2/5/1998 12:22:00 PM
From: Mark Bartlett	Read Replies (1) of 116758

William, <<739 million oz. were consumed last year, while 570 million oz. were produced, so where did the difference come from? Scrap, including coins.>> Think you may have misunderstood me ... I am fully aware of the silver supply vs. deficit problem .... and why we are in backwardization .... and I am fully aware of why Buffet wants delivery .... what I am NOT sure about is how much of the recent deficit has been made up by coins - obviously some has ... but as the the exact amount ???? I know that somewhere in the area of 20-25% of the supply each year is from scrap and coins ..... not sure how it breaks down from there ... I suspect the amount that coinage makes up of the the 20-25% scrap is not that high. If anyone has numbers, I would be interested in seeing them I hope that is more clear .... best to you, MB

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