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Silver Eagle Bullion Coin Sales Head For Annual Record Over 40 Million

GoldCore's picture




 

Today’s AM fix was USD 1,349.50, EUR 980.81 and GBP 840.23per ounce.
Yesterday’s AM fix was USD 1,346.75, EUR 978.81 and GBP 837.06 per ounce.

Gold dropped $8.40 or 0.62% yesterday, closing at $1,344.60/oz.
Silver rose $0.01 or 0.04% closing at $22.48. Platinum fell $15.50 or
1.1% to $ 1,454.50/oz, while palladium slipped $0.78 or 0.1% to
$742.72/oz.

Gold was treading water below five week highs today, as investors
weighed the decline in Chinese demand from record levels with still very
robust demand in India. Silver is up 1% as robust industrial and store
of wealth demand supports silver.


Silver in US Dollars, 1 Year - (Bloomberg)

Gold prices in China closed lower than global prices yesterday for
the first time this year. This may be due to a slight decrease in demand
in recent days. There was also speculation that this was due to fears
of a credit tightening and the possibility of a credit crisis in China.

Indian premiums stayed near record highs at $130 per ounce due to a supply crunch and supply shortages.

Hedge funds and money managers raised bullish bets in futures and
options of U.S. gold and silver markets for the week ended October 8,
the latest report by the Commodity Futures Trading Commission (CFTC)
showed.

More savvy trend following speculators are getting long gold again in anticipation of higher prices.

The Fed will make a statement later on Wednesday at the end of its
two-day policy meeting. The bank is widely expected to say it will stay
on course with its ultra loose monetary policies and will not reduce its
money printing, debt monetisation programme.

U.S. stocks closed at historic highs on hopes that the Fed will
continue supporting and indeed creating another liquidity driven bubble.

U.S. Mint sales advanced across all bullion products in October. In
total ounces, U.S. Mint distributors bought 5,000 ounces of gold coins
and 197,500 ounces of silver coins.

Silver Eagle bullion coins advanced 194,500 for a year-to-date total
of 39,175,000. This means they are on track for  a new annual record -
surpassing the record seen in 2011.

When the annual record for the Silver Eagles happened in 2011 at
39,868,500, it took until December 13, for sales to reach the levels
reached this year.

================================================================
                                       Total
                                     Ounces        YOY%        MOM%
================================================================
Oct. 2013
Month-to-Date        3,087,000
Full month pace     3,381,000        7.2%       12.2%
----------------------------------------------------------------
Sept. 2013               3,013,000       -6.6%      -16.9%
Aug. 2013                3,625,000       26.3%      -17.7%
July 2013                 4,406,500       93.4%       34.5%
----------------------------------------------------------------
June 2013               3,275,000       14.6%       -5.3%
May 2013                 3,458,500       20.3%      -15.4%
================================================================
American Eagle Bullion Sales In One Ounce Coins - Bloomberg via U.S Mint

The U.S. Mint’s sales of American Eagle silver coins have
reached 3.087 million troy ounces so far this October and have
surpassed the September sales figure, according to figures from the U.S.
Mint’s website. Sales increased to 3.087 million troy ounces in October
from 3.013 million troy ounces in September.


Monthly American Eagle Bullion Sales In One Ounce Coins - U.S. Treasury via Bloomberg

The figures are as of yesterday and at that pace, total sales for the
month would be 3,381,000 ounces, up 7.2% from a year earlier.

The chart above clearly shows the long term trend towards higher
silver eagle demand in recent years as store of value buyers accumulate
silver eagles to protect against currency devaluation and wealth
confiscation.

Below are the latest daily, October and year-to-date United States Mint bullion sales figures, courtesy of CoinNews.net


CoinNews.net

Some of those who bought silver in 2011 as an investment may be
reluctant to buy more silver due to recent volatility. We have long
pointed out that silver is not an ‘investment’ per se rather it is a
store of value and a form of financial insurance. Silver is to be bought
for the long term - until it has to be sold due to a need to raise cash
– indeed a permanent holding.

Realising this helps people stomach the short term price swings that
are typical in the silver market. This is important as silver will
protect them from currency devaluations and the coming bail-in regime.

It is worth pointing out that all markets are volatile today and silver’s volatility is often exaggerated.

 
Silver in US Dollars, 5 Years - (Bloomberg)

Silver remains undervalued from a long term, historical, inflation adjusted perspective.

Our long held belief that silver could reach the record 1980 high in real terms, inflation adjusted, if $140/oz remains.

Immediate support is at the $18/oz to $20/oz level (see charts) and
store of value buyers should continue to accumulate on this dip.

 

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Wed, 10/30/2013 - 23:56 | 4107576 Nobody For President
Nobody For President's picture

I'm doing a modest amount of Eagle stacking - I figure if TSHTF silver dollars will be more flexible trade items locally than the much higher value gold coins and bars. I might be wrong about this.

Besides, when you lay out a tube of Eagles on a black felt background in medium to low light, the LUSTURE of that laid out pile is SO cool - it sort of winks at you the way our present copper-clad shit coinage can't possibly replicate.

Try a tube - you might like it!

Thu, 10/31/2013 - 00:03 | 4107590 akak
akak's picture

That is because silver is the most reflective of all the metals.

It is also why silver is usually used as the reflective coating on the back of mirrors.

Wed, 10/30/2013 - 22:04 | 4107336 Dr. Gonzo
Dr. Gonzo's picture

That's a lot of real fucking money gettin back out to the people. If people control enough of the real money as well as the means of production the puppet politicians can go hang with their clown bucks and welfare checks and bullshit sick insurance. 

Wed, 10/30/2013 - 21:27 | 4107233 MFLTucson
MFLTucson's picture

And the American banking trash will continue to fuck with the paper price till all the real gold and real silver is sold to Asia.  What a pile of shit they are!!

Wed, 10/30/2013 - 21:17 | 4107203 Al Huxley
Al Huxley's picture

Supply and demand -

https://www.silverinstitute.org/site/supply-demand/

 

So it looks to me like there's annually a 1 billion oz supply, and a 750 million oz non-coin/non-investment demand.  So only 250 million oz / year available for 'investors'.  That's not even enough for everybody in the US to buy 1 oz/year.  It's ~7800 tons - about 3x the annual gold supply from mining ( I equate the supply for investment in silver to total supply from gold on the assumption that pretty much all gold is kept for 'investment').

 

So I think when this gets to be more public knowledge - that gold silver investment supply ratio is 1:3 but price is 60:1, its maybe going to generate some interest.

Wed, 10/30/2013 - 21:09 | 4107167 Papasmurf
Papasmurf's picture

The fed wants a bit higher inflation.  They will let gold & silver run a bit to accomplish that goal.

Wed, 10/30/2013 - 20:59 | 4107137 logicalman
logicalman's picture

Excrement impacts rotating blades.......

Do you have metal, or don't you?

That will be what's important.

Wed, 10/30/2013 - 21:09 | 4107086 Lordflin
Lordflin's picture

I have always wondered how it is that folks are able to specifically identify the forces that drive a completely manipulated market...

The choice is simple... in or out. In you play the market... DIA's, etc... out you stack... Sitting on the sidelines with a depreciating asset (cash or bonds) except in the short run seems an obvious loser.

Attempting to offer an explanation for daily events is...

a) an exercise in futility...

b) a derivative of an abberant and arrogant mind...

c) absurdly ludicrous...

d) all of the above...

Personally, I stack... anyone still in this market is IMHO asking for some real hurt...

Wed, 10/30/2013 - 20:30 | 4107051 Alpo for Granny
Alpo for Granny's picture

And yet for some reason despite the overwhelming physical demand silver can't hold above the $23 mark.

Wed, 10/30/2013 - 21:18 | 4107206 Al Huxley
Al Huxley's picture

I have to pay a little over 25 to buy, but that still seems like quite a deal, considering the supply/demand dynamics coupled with the flagrantly criminal behavior of the central banks of the world.

Wed, 10/30/2013 - 21:07 | 4107162 akak
akak's picture

"Some reason" = 'paper' silver

Just ask Jeffrey "100:1" Christian, he can tell you ALL about it --- that is, if he can be bothered to take time out of his defamation campaign against Andrew Maguire.

Methinks the bankster dwarf doth protest too much.

Wed, 10/30/2013 - 19:23 | 4106857 lunaticfringe
lunaticfringe's picture

QEternity! It can never end. The liquidity trap wins.

Wed, 10/30/2013 - 21:23 | 4107225 spinone
spinone's picture

Means there's unlimited funds to short paper silver too.

Wed, 10/30/2013 - 21:36 | 4107263 RockyRacoon
RockyRacoon's picture

I'd just like to know how much of that Silver Eagle tally is now off-shored.  You can bet that many monster boxes left the soil of the issuing country.  The typical US citizen is still ignorant of the importance of the metals.

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