US Mint Reports Unprecedented Buying Spree Of Physical Silver

Tyler Durden's picture

Three days ago we noted that in just the first week of January, the US Mint had sold 2,221,000 ounces of silver "a number which if run-rated would be an absolutely all time monthly record," A quick glance at the tally today, shows that something very scary is going on. In the subsequent three days, the number has surged by 50% and has hit 3,407,000 ounces of silver! In just the first 12 days of the month we have already surpassed the total monthly sales of 9 separate months of 2010.

And some additional observations on what is becoming a physical buying frenzy from

An increase in 2010 Silver Proof Eagles and record-approaching 2011 Silver Bullion Eagles are the most interesting aspects in the latest US Mint sales report.

The Proof Eagle coins have seen two weekly adjustments since they sold out in late December. The latest brings them up 3,644 to 860,000, which would seem like a natural stopping point. Collectors will have to wait until the July time frame for the 2011 Silver Proof Eagles to make their appearance, according to the US Mint.

2011 bullion eagles launched  on January 3, 2011. Silver Eagles already have last year’s January record in their sight. The coins have raced to 3,407,000 in less than two weeks after their latest weekly pick-up of 1,322,000. Until January 2009, the silver coins had never topped the 3 million mark during the first month of a year. Those record sales totaling 3,592,500 may get clobbered in mere days. The all-time monthly high of 4,260,000 which was just set in November could be the next victim. As a side note, the 3,407,000 sold this month includes 469,500 of the 2010-dated issues. The US Mint had buyers order one 2010 Silver Eagle for every five of the 2011′s.

Bullion one-ounce 2011 Gold Eagles are running, but not sprinting like their silver counterparts. US Mint sales has their tally at 42,500 for a weekly increase of 29,000. As a comparison, buyers ordered 85,000 in January 2009. Inventory of the 2010-dated coins also remains. There were 53,000 at the start of the year. US Mint Authorized Purchasers must order one old for every four of the new ones.

Mike Krieger presents the following disturbing observation on this trend: "In the first 12 days
of January 3.4 million silver eagles have been sold.  I have never seen
anything like this.  The amount of physical being taken off the market
on this paper sell off is EXTRAORDINARY.  We must be VERY close to the
end." Whoever has adopted JPM's legacy paper silver short position is in
for some very troubling days ahead.

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JonNadler's picture

silver is going down, BIG time!

JonNadler's picture

the silver drop has already begun, it's down 20 cents;  24 by tomorrow

Malcolm Tucker's picture

EXCELLENT cartoon about "The American Dream"! Full of references to banksters, the FED, fractional reserve lending, debt, gold, etc....


If there ever was a cartoon argument (other than the silver bears) to buying PM this is it:


FEDbuster's picture

BTW the picture is of a platinum one oz. US mint coin not a silver eagle.

rocker's picture

Right on. Buy them too. I have by safe full.

I thinks' the point is:  Do they make Depends large enough for Jamie Diamon. 

I hope not.  "Just Buy the Fuckn Dips."

mediaprizm's picture

Truly nice post of "US Mint Reports Unprecedented Buying Spree Of Physical Silver".
Online Buying Guides

VegasRage's picture

Yeah that sure sounds like Kitco's Jon Nadler alright. That guy never wants to face the reality that is going on.

cole's picture

As in all crises investors seek refuge in real like gold and silver

Codigos postales - coches usados

cole's picture

Excuse me . this is duplicate

JonNadler's picture

the silver drop has already begun, it's down 20 cents;  24 by tomorrow

DoChenRollingBearing's picture

$24 tomorrow!

$2 next week!

$0.02 next month!

Ask Blythe if I got that right, OK?

JonNadler's picture

Blythe is in a comma at the moment after that attack at the Crimex didn't work out the other day andsilver managed to come back over 29, she went catatonic.


I got three junks already DoChen, som boys is slow ain't them


Robot Traders Mom's picture

You fucking tool. Now I have to change my name to Jon Nadler's Mom

LowProfile's picture

I know you're being sarcastic, but silver is waaaaaay overbought at this point.  Gold is stretched too.

You all should be hoping for a (likely IMO) significant pullback.  I am!

outamyeffinway's picture

Kindly explain how Ag is waaaaay overbought when it has never been allowed to trade on the free market and there are reports of physical deliveries across the world???

Armchair Bear's picture

that's what they've been trained to say.


you are correct - silver has not been honestly priced for decades -  old habits die hard...


Silver's "nominal" price is irrelevant at the moment - what other commodity (esp. one with a long monetary history as silver) that is indispensible to industry trades at a lower price than it did 30+ years ago?  Answer: none.

Dr. Porkchop's picture

This is what tingles my street sense. If the fundamentals are that silver has no real substitute, is being consumed and is in high demand for industrial use, then it should at least command a higher price. If industrial demand falls off because of another major downturn, we still have the massive money printing and debt problems which still put silver in a good position as a hedge.

The arguments that the naysayers put forth seem to be grounded in the fact that the stock market is rallying and the dollar will always be on top because the empire says it will. Generally, I find that when something grates against your common sense, it's a sign theres bullshit afoot.

lawrence1's picture

Hey, friend, dont ask for facts and reasoning from some guys... it strains the brain and slows their train.  Just ignore ignorance and eventually they go somewhere else less demanding.

Calmyourself's picture

Can you expand on this or just an opinion dump and run?'s picture

Blythe is in a comma at the moment


A result of Blythe having her head up her colon?

RockyRacoon's picture

Could just be her period.   Nah, I shouldn't say that.  But I did.

delacroix's picture

pms    precious metals syndrome

CD's picture

In case anybody has not yet seen Turd Ferguson's blog, you should check it out. Blythe sometimes stops by, and leaves occasional notes:

Turd, darling, I do apologize so for for the damage to your posterior regions today. But I really must insist that I have given you more than fair warning that this is my sandbox and that there is a price to pay for playing in Blythe's sandbox. I am more than happy to take your money, Turd, but it does cause me a slight twitch of guilt to watch you commoners piddle away your hard earned money gambling in my house.

Blythe suggests that you and all the other minions should read the Chris Martenson post referenced earlier on this board and on Zerohedge. You would do well to read his earlier post (The Sound of One Hand Clapping) also. As Chris notes, we make the rules to suit our ends and if the rules don't suit our ends then we change them. This is our casino. We let you play and perhaps win a hand or two, but we will not lose the game, Turd. The CFTC hearing was lovely to watch, wasn't it? 

Again, it does pain me so to receive so much hostility from you and your rabblerousers out here on these chatting boards. Especially when, for those of you buying physical, I remain the best benefactor you've ever had. 

We shall see what tomorrow brings, Turd.



Jack Burns's picture

A tricky operation.  But it is her asterisk.

hambone's picture

20 DMA for SLV at $27.75 - seems a great time to pick up SLV @ $27.80 and set a stop at $27.50???

Potential reward - lots

Potential risk - minimal


Jonas Parker's picture

If you don't hold it, you don't own it!

JonNadler's picture

haha he's buying SLV, well at least somebody is drinking my kool aid, oh please buy SLV and not the real thing, we at JP Morgan greatly appreciate it

DoChenRollingBearing's picture

Well, JonNadler, look at the bright side!

You are free of her, at least while she is still catatonic.  Now might be a good time to get out of Dodge!

And kitco will always have you back...

akak's picture

And kitco will always have you back...

Well, SOMEBODY has to maintain the Ponzi of their fraudulent pooled precious metals accounts ---- might as well be Jonny, the man who is responsible for setting them up in the first place, after his glorious stint doing the same kind of thing over at Bank of America.

DoChenRollingBearing's picture

I ask for JonNadler's kind grace to forgive me announcing that:

Jim Willie CB has a new column just out!

At, probably kitco as well (hey, if it is at kitco, do our buddy JonNadler a favor and click his new employer...)

Hephasteus's picture

Blythe is not in a coma. She is enjoying music. Ain't nothing gonna break-a-my derivative.

Armchair Bear's picture

nice pants - luckily the camera kept it mostly above-the-waist...

StychoKiller's picture

I always hate it when I get stuck in punctuation! :>D

Lord Koos's picture

She is one scary-lookin', sold-my-soul-long-ago girl.

THE DORK OF CORK's picture

Its only going down from your perspective - the rest of us see silver rising , hold on I'm getting dizzy.

Horatio Beanblower's picture

Happy days are here again!  BTFD!

Pladizow's picture

Hey, Troll Boy!

How much leverage have you taken on to short silver?

f16hoser's picture

If you take leverage and place a C in front, add an A lose the ER and whala CLEAVAGE!



Betty Swallsack's picture

Not really.  But as you revel in your own 'brilliance', what you said was whale-a.  The word you're looking for, my illiterate friend, is 'voila'.

reader2010's picture

I piled myself big time into DGP and SLV back in 2008 when PM dropped like a rock. Closed my positions about a week ago. the charts are screaming!

DoChenRollingBearing's picture

Nice video!

Although we already know all that...