US Mint Sells Massive 3.9 Million Ounces Of Silver Coins In First Few Days Of 2013, Triple December's Total

Tyler Durden's picture


Just a few days ago we noted the massive surge in physical gold coin sales from the US Mint, with silver surprisingly lagging. Today, we see an even more dramatic surge in the sales of physical Silver Coins in the first week of January, which in a few short days hit 3.94 million oz, already surpassing the entire December total of 1.64 million ounces. It seems that the paper-to-physical currency rotation is gathering pace even as, or thanks to the trillion dollar platinum coin mercifully ending its 15 minutes of page-clicking, ad revenue infamy. In the secondary market, inventories (via APMEX) of Silver coins remain negligible, if any: American Eagles are available as follows: 2013s may be available 1/18, maybe not; 2012 - 0; 2011 - 0; 2010 - 0; 2009 - 0; 2008 - 0; 2007 - 0; 2006 - 0; 2005 - 0; 2004 - 0; 2003 - 0; 2002 - 0. They do have some 2000, 2001 and 2007, all about $5-6 over spot! It seems ever more people are getting nervous about the impact of currency wars on their "money"... or perhaps just want to make Silver shirts to attract the females?




(h/t Alex Gloy)

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Tue, 01/08/2013 - 18:20 | 3134239 akak
akak's picture

Any PM holder or potential customer should automatically boycott Kitco for their employment of the egregiously and diabolically gold-hating, bankster-loving troll Jon Nadler as their official spokesman.  One would be hard-pressed to find ANY other business which employs, as their official spokesman, a person who DAILY badmouths, denigrates, mocks and attacks both their own potential customers as well as their very stock in trade.

Tue, 01/08/2013 - 18:41 | 3134356 e_goldstein
e_goldstein's picture

I found a  10 oz Kitco bar of Ag at my dealer's a couple of years back. As far as I know that's the only silver the company ever produced. 

Happy New Year to you and yours, Akak.

Tue, 01/08/2013 - 19:15 | 3134437 akak
akak's picture

Well, if it is real silver (one has to wonder, if the name "Kitco" is attached to it), then you are probably safe from having Nadler's sociopathic fingerprints on it --- you know, vampires and silver don't mix.  I'd try to make sure that it is not some novel form of hyper-compressed paper, though, just to be sure.

Happy New Year to you as well E!

Tue, 01/08/2013 - 19:53 | 3134524 Tall Tom
Tall Tom's picture

Doug "Kitco" Casey hired him. I do not believe that Doug Casey is a Bear. Do you read his Casey Research Reports?

Tue, 01/08/2013 - 20:09 | 3134549 akak
akak's picture


Doug "Kitco" Casey hired him

Doug Casey hired JON NADLER??!!

I cannot believe that --- you are surely mistaken.

Tue, 01/08/2013 - 21:21 | 3134705 Intoxicologist
Intoxicologist's picture

I find that hard to believe also; although, Doug Casey doesn't believe/isn't convinced silver is manipulated either.  I always thought his viewpoint was odd, especially when he's got Ed Steer on the payroll.

Tue, 01/08/2013 - 18:01 | 3134252 Papasmurf
Papasmurf's picture

Don't believe everything you read by Jon Nadler.

Tue, 01/08/2013 - 18:35 | 3134334 akak
akak's picture

You mean, don't believe ANYTHING you read by Jon Nadler!

Tue, 01/08/2013 - 19:16 | 3134443 Papasmurf
Papasmurf's picture



Tue, 01/08/2013 - 18:13 | 3134273 FL_Conservative
FL_Conservative's picture

I can't help you with Kitco's situation or marketing approach. But the PM dealer I use is out of the cull Walking Liberty halves that I paid 6% over spot less than a month ago and the Franklin halves are now at 12.8% over spot.  By way of contrast, the silver eagles they are selling are now more attractively priced relative to cull halves as they're priced at 8% over spot.

Tue, 01/08/2013 - 18:29 | 3134313 AllWorkedUp
AllWorkedUp's picture

 I do to. CNI has all the silver you want to buy including eagles at spot + $2.75. I hear this "shortage" crap all the time and wherever they are short phyzz, it isn't evident in my neck of the woods.

Make no mistake, I'd love it to be true as I'm up to my eyeballs in silver and gold and am so tired of the joobux paper bullshit marke., But saying there's a shortage when there's no evidence of one doesn't do our cause one bit of good.

Tue, 01/08/2013 - 19:42 | 3134491 PowerzThatB
PowerzThatB's picture

The "shortage" on silver Eagles has to do with the period between end of mint sales in 2012 and new 2013 eagle releases (in 1-2 weeks). But go try to find 90% at a reasonable price...or JM bars...or Krugerrands. You can't.

Wed, 01/09/2013 - 00:32 | 3135170 sharky2003
sharky2003's picture

I ordered a bag of 90% Roosevelt Dimes or Washington Quarters on 12/20 for .59 over spot over at Goldmart. A few days later I noticed they raised the premiums to .79. Yesterday when I looked the premium was .99. I just now looked again before I posted and its 1.19 (and all the other bags are .20 over what they were yesterday). Sounds like these are showing pretty hefty demand in order for them to be able to do that. 

Wed, 01/09/2013 - 02:28 | 3135433 r3phl0x
r3phl0x's picture

40% & 90% junk silver is also out-of-stock at Tulving. First time in at least 6 months.

Tue, 01/08/2013 - 21:31 | 3134736 JonNadler
JonNadler's picture

kitco have silver? HA HA

Tue, 01/08/2013 - 18:40 | 3134352 PowerzThatB
PowerzThatB's picture

Per the owner at almost all secondary gold has been sold out for 1 1/2 months. 90% silver is 4-6 weeks out with elevated premiums, and most secondary silver is hard to come by (JM bars, etc.). Even new mintage of silver rounds, 10-oz bars is getting backlogged.

Tue, 01/08/2013 - 16:54 | 3134054 SmallerGovNow2
SmallerGovNow2's picture

As I posted on previous story about Japanese funds...

WOW!  Check APMEX website and look how many silver eagles are out of stock!!!

Going, going, gone...

Tue, 01/08/2013 - 17:00 | 3134075 DosZap
DosZap's picture

WOW! Check APMEX website and look how many silver eagles are out of stock!!!

Going, going, gone...


With their Prems over spot, hard to believe how much they sell.I stopped buying from them for gouging 3 yrs ago.

Tue, 01/08/2013 - 17:34 | 3134176 dark pools of soros
dark pools of soros's picture

a middle man taking a pinch is God's Work

Tue, 01/08/2013 - 17:06 | 3134076 DosZap
DosZap's picture


Tue, 01/08/2013 - 17:37 | 3134170 tip e. canoe
tip e. canoe's picture

did you know that AMPEX's bank is JPMorgueChase?

so let's see here:

1) you buy 1,000 ozs. of silver from AMPEX in return for the going rate of $.

2) AMPEX deposits that $ into their account with the Morgue.

3) how many oz. can the Morgue short from that $ that you just gave AMPEX using leverage?

500?  1,000?   5,000?   10,000?

Tue, 01/08/2013 - 17:43 | 3134197 tenpanhandle
tenpanhandle's picture

don't leave out the 1000 ounces of physical removed from their ammo pouch.  This they would sell 100 times.  You do the math.

Tue, 01/08/2013 - 17:51 | 3134223 tip e. canoe
tip e. canoe's picture

whose ammo pouch?

Tue, 01/08/2013 - 17:58 | 3134240 ParkAveFlasher
ParkAveFlasher's picture

I've struggled with that thesis as well, that exchanging FRNs for physical PM is somewhat self-defeating, and the only way to circumvent that self-defeat is to trade around FRNs (and other fiat by implication). 


Tue, 01/08/2013 - 18:25 | 3134303 tip e. canoe
tip e. canoe's picture

or at least do some simple due diligence and discover who the PM dealer is banking with before doing any business with them.

Tue, 01/08/2013 - 23:19 | 3135016 lakecity55
lakecity55's picture

hahahaha, morgue counts the Ag they sell to us as "leased" and print up more paper stocks.

All the PMs in all our safes r belong to JPM.

Bury that stuff out back before they order Barry to make you giver 'er up!

Wed, 01/09/2013 - 00:39 | 3135183 just-a-girl
just-a-girl's picture

APMEX bank is Bank of Oklahoma, N.A.

Tulsa, OK

Wed, 01/09/2013 - 14:15 | 3137153 tip e. canoe
tip e. canoe's picture

if this is correct, then i stand corrected.   all the more reason for everyone to do their own due diligence.

Tue, 01/08/2013 - 16:56 | 3134060 youngman
youngman's picture

There has been a couple of big moves out of Comex in the last couple of weeks...we are talking tons leaving...

ALSO how much could they sell it they stayed open?  What do the government employees do when they are shut down....???  Watch Porno....

Tue, 01/08/2013 - 17:00 | 3134077 kliguy38
kliguy38's picture

Not indefinitely and therein lies their problem. As long as the they can rehypothecate the various piles of bullion from the faux paper trades backed by bullion it can play out. Imagine how horrified the holders of these "guaranteed" paper vehicles are going to react. I've met with hedgees that are JUST NOW starting to ask these very questions. It may take more time than you realize for this to play out but it will. They've got to hold off on the price rise for now but it will reach that precious escape velocity one day......

Tue, 01/08/2013 - 18:36 | 3134339 AllWorkedUp
AllWorkedUp's picture

As long as the world continues to price silver in dollars they can keep the game going as long as they want - and they will.

Tue, 01/08/2013 - 16:37 | 3133985 ACP
ACP's picture

With all the demand, I guess that means the price goes lower, right?

Tue, 01/08/2013 - 17:03 | 3134088 ziggy59
ziggy59's picture

Yes, of course... Are we not all citizens of Htrae, Bizarro World, lately?

Tue, 01/08/2013 - 16:37 | 3133987 silverserfer
silverserfer's picture

suck it trav777 bring it!

Tue, 01/08/2013 - 17:11 | 3133989 agent default
agent default's picture

Yeah but they run  out a while ago, so this number probably includes back orders.  Still impressive.

Tue, 01/08/2013 - 16:38 | 3133990 bania
bania's picture

Yes! Silver shirts neutralize the bacteria causing body odor. BRILLIANT! Step right up ladies!

Tue, 01/08/2013 - 16:42 | 3134008 Likstane
Likstane's picture

Silver shorts(no pun intended)keeps the crotch odor to a minimum!!

Tue, 01/08/2013 - 18:07 | 3134267 Freddie
Freddie's picture

What about Silver long (johns)?  ;-)

Tue, 01/08/2013 - 20:47 | 3134617 Long-John-Silver
Long-John-Silver's picture

All my Long John's are Silver. :-)

Tue, 01/08/2013 - 16:42 | 3133996 Cognitive Dissonance
Cognitive Dissonance's picture

Mrs Cog and me got us some of them thar purdy coins two.

<Because only illiterate hillbillies buy barbarous relics.>


Tue, 01/08/2013 - 17:01 | 3134081 RockyRacoon
RockyRacoon's picture

Git yer nickels, CD!  ...before they are made out of zinc.

United States Mint Releases Findings on Alternative Metals Study:
Additional R&D Required Before Making Recommendations

The U.S. Mint is committed to pursuing potential cost savings—whether it be from the use of less costly alternative materials or through production efficiencies. As part of that commitment to reduce costs, the Mint—along with a research and development consultant—undertook a very thorough R&D study to identify potential changes to the metallic composition of circulating coinage and methods of production.

The study took nearly two years, researching 80 metals on the periodic table of elements that may work—and which ones will not, establishing an R&D lab, and testing hundreds of test pieces composed of nearly 30 alloy formulations. The study involved working closely with many stakeholders—the vending industry being the primary one—to assess impacts of any potential alternatives.

The Mint has made significant progress and, at this time, has concluded that additional R&D is necessary before it can recommend any changes to the current coin composition. Going forward, the Mint will continue R&D and testing of potential alternative materials; conduct production-scale runs to validate supply chains, manufacturability, and costs; and further verify the estimated costs to stakeholders that are associated with the change.

Two reports are available on this page—the U.S. Mint's report and the report provided by the consultant under contract to the Mint.


Both reports are in the process of being made 508 compliant. To obtain printed copies of the report, please call (202) 354-7227.

United States Mint Report: 2012 Biennial Report to the Congress on the Current Status of Coin Production Costs and Analysis of Alternative Content, December 2012 (PDF, 8 pages, 128 KB)

Current Technologies Corporation Report: Alternative Metals Study, August 31, 2012 (PDF, 400 pages, 4680 KB)

Tue, 01/08/2013 - 17:10 | 3134106 Cognitive Dissonance
Cognitive Dissonance's picture

"The U.S. Mint is committed to pursuing potential cost savings—whether it be from the use of less costly alternative materials or through production efficiencies."

Why waste valuable precious metals on our coinage when you can use a scrap Honda from the junk yard.

Tue, 01/08/2013 - 17:45 | 3134209 Poor Grogman
Poor Grogman's picture

Why go through all the intermediate steps just to be politically correct.

Why don't the banksters just microchip everyone to save costs like they would really like to.

Oh that's right they would have to take our guns first...

Tue, 01/08/2013 - 16:40 | 3133997 SilverIsKing
SilverIsKing's picture

Who's the king?

Yeah, that's right.

Tue, 01/08/2013 - 16:40 | 3134000 IridiumRebel
IridiumRebel's picture

How are the Tungsten sales going? They track that too?

Tue, 01/08/2013 - 16:46 | 3134024 SHEEPFUKKER

Tungsten outpacing gold 50:1 I'm told. 

Tue, 01/08/2013 - 16:40 | 3134002 BigPerm
BigPerm's picture

No delivery failures = no supply/demand imbalance.

Tue, 01/08/2013 - 16:41 | 3134005 catacl1sm
catacl1sm's picture

They only reason it spikes at the year begining end then lags throughout is because they don't make enough of the coins available.

Tue, 01/08/2013 - 16:42 | 3134011 catacl1sm
catacl1sm's picture

Silver Eagles are going for about $36/each on Ebay.

Tue, 01/08/2013 - 16:43 | 3134012 YouThePeople
YouThePeople's picture

Silver shorts then silver shirts.

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