US Mint Sells Out Of Silver Eagles Following "Tremendous" Demand

Tyler Durden's picture

When it comes to buyers of physical assets as opposed to traders of paper representations of such assets, there is one key difference: the latter, more than anything, enjoy looking at "heatmaps", chasing trends and jumping on momentum, the result being the most recent massive selloff in such "paper" representations of precious metals as the GLD and SLV ETFs, and various gold futures.

On the other hand, those who prefer to hold the metal in their hands, as well as others such as China whose ravenous apetite for gold over the past 4 years has been extensively covered here in the past, take every advantage of selloffs, and - inconceivably - demonstrate how Econ 101, namely supply and demand, really works, leading to ever greater demand the lower the price. Demand so high, in fact, that the underlying commodity that is being sold through paper conduits, sells out.

This is precisely what happened at the U.S. Mint, which just sold out of all silver American Eagle silver bullion coins, following "tremendous" demand in the past several weeks, according to Reuters reports.

This should hardly come as a surprise: over the weekend we reported that "Silver Coin Sales At US Mint Soar To Highest In Two Years."

Sales surged to 5.79 million ounces, the most since January 2013, the month that set an all-time high at 7.5 million, Bloomberg reports. "Today, sales jumped 33 percent in one of the busiest times this year", Tom Jurkowsky, a spokesman at the Washington-based mint, said in an interview. Last month’s total was 4.14 million.


“We saw demand surge over the past two days,” Michael Kramer, the president of New York-based MTB Inc., a dealer authorized to purchase coins directly from the mint, said in a telephone interview. “Business was almost triple than what it has been over the past few months.”


Logically, as a result of the surge in physical demand, silver futures for December delivery dropped 1.9 percent to close at $16.106 an ounce on the Comex in New York. Earlier, the price touched $15.635, the lowest for a most-active contract since Feb. 25, 2010.


Because when it comes to precious metals, thanks to the BIS and the central banks, Paper beats Rock every time.

Which brings us to today, when according to an alert issued to dealers across the US, some 2 million ounces of silver sold out just after noon, Eastern time, following the sale of over 1 million ounces in just the first two days of the month.

In a statement sent to its biggest U.S. coin wholesalers, the U.S. Mint says it will continue to produce 2014-dated coins. The Mint will advise when additional inventory will become available for sale without providing further details.


The announcement has not been made available to the public, but a U.S. Mint spokesman confirmed that it has sent the statement to its authorized participants.


A sharp break in gold prices to their lowest in more than four years last week has unleashed a surge in demand for silver and gold coins in North America and Europe.

As A-Mark, one of the largest bullion distributors in the country added, "The US Mint has just announced that they are temporarily sold out of American Eagle Silver Bullion Coins.  They are in the process of producing more and will advise when additional inventory is available.  If you previously received fixed premium pricing from us, it is no longer valid."

So... even lower prices coming, right?

And since everything else in the New Normal is now flipped on its head, it only makes sense that the continued price collapse for precious metals is, as it turns out, driven by ever greater demand!

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
FieldingMellish's picture

"So... even lower prices coming, right?"

Right. Why not? Its not like there is a functioning market or anything. $5 silver on the way.

SoilMyselfRotten's picture

Another article to make you bearish

Newsboy's picture

Patriotic fervor must be running higher than expected, huh?

rocker's picture

While I do own PMs, I must say. The banksters know how to rig all markets. They have been selling their silver high to the masses. Question is, just how low can they push it before they do buy themsleves. Understand, The FED is part of the Bankster Cartel who's sole purpose is to garnish the banks with wealth. Second, the FED is the Government. 

kliguy38's picture

and I must say I will continue to accept all of their gifts...........foch um

Pladizow's picture

Damn it - just checked and is already taken!

kliguy38's picture

Pro traitor Dan Norpuki says NO manipulation........watta turd

NoDebt's picture

On one hand, people aren't so stupid they don't realize the price is below cost of production.

On the other hand, there are commercials on TV 100 times a day selling bullion and coins (a good sign of an overplayed investment idea).

There's your book ends, in my opinion.  Still, I'd probably buy some more right now, if I had any money left.

auntiesocial's picture

If this doesn't show the disconnect between reality and the market, then i really don't know what duz

jbvtme's picture

i wonder what the gov't is paying for the silver?

SilverRhino's picture

Who knows, hell they could be replacing all the control rods with another material and pulling the silver out of them.  

zerozulu's picture

Price of gold will go up when "Leeches" will have their stomach full.

ebworthen's picture

NoDebt said:  "I'd probably buy some more right now, if I had any money left."

Me too.  But those Silver Eagles are so high above spot it's like driving a new car off the lot.

The9thDoctor's picture

Whatever happened to Crash JPMorgan Buy Silver campaign?

That fizzled.

Whatever happened to the talking bears videos that were embedded in ZH articles back in 2010? Wouldn't the talking bears have something to say about buying silver "on sale"?

They fizzled.

What about the myriad articles on "hyperinflation" and $500, $1,000 or even $1,500 an ounce silver if you could get it?

Never happened. We get $15 silver and deflation.

If I bought stawks instead of silver coins, I would be way ahead right now. If I bought silver coins instead of stawks, I would have lost my ass right now. Stawks are at all time highs, and silver is ridiculously low despite all of the QE.

The alt media has some explaining to do.

As bad as the MSM is, the alt media was 180 degrees wrong after the bailouts.

I'm not trolling. I'm being serious. WTF is going on?

The9thDoctor's picture

Oh yeah, another thing I forgot to add... remember being an "alchemist" and turning plastic into metal by buying silver with a credit card and defaulting?

I wonder how those guys are doing with their $30+ silver and high interest credit card debt!

That was a good one!

Clifftastic's picture

Not to mention the ending of the silver fix in August....still nothing happened apart from the ass falling out of the silver price....


Clifftastic's picture

Not to mention the ending of the silver fix in August....still nothing happened apart from the ass falling out of the silver price....


James_Cole's picture

People invested in silver should be praying for a major demand increase in solar panels. It actually wouldn't even take that much.

Those confused on the 'paper price,' see if you can spot the correlation:

Bonus for those who claim price rise is not etf demand:

maskone909's picture


Vooter's picture

The banks and the U.S. government are powerful criminals. What do you THINK is going on?

The9thDoctor's picture

+1 Vooter

We are playing a rigged game and it is obviously not in our favor, so what did we expect? To win with silver going to the stratosphere?

Whalley World's picture

Patience Grasshopper!  If you are a flipper stay away from Silver, if however you realize that this market is fixed and the fix can not go on forever, then start stacking.  If you believe in the omnipotence of the central planners, get into that market, and oh, don't bitch when they crash it again and your paper profits have gone poof!

remember what Keynes said, markets can stay irrational longer than most can stay solvent. 

As for me, i just keep buying whilst our overlords keep real money at a major discount.

ebworthen's picture

Someone buying Silver or Gold with their fiat prior to Weimar hyperinflation would have looked like a fool.

When the whiplash finally came about, they looked like a genius.  All about timing.

If you'd have bought stocks you'd be taxed out the ass to take any profits.

If you left it in the markets, it will eventually be -60% like 2009.

Damned if you do, damned if you don't.

That's the way TPTB like it.

Cloud9.5's picture

The world is upside down.  Practical sensible investments are punished.  Spendthrifts are rewarded and savers are crushed.  We have all been early in anticipating the collapse.  Who knows when the reckoning will come?

rocker's picture

It's all about the money. Those who need it, do not have it. Those with excess and @1% it is a large number,

are hoarding the dollars. That is the game. When they open thier hands and spend it or are taxed and it's put

in the economy the price of hard resourses will change. Their is no real demand yet. Never Forget. The FED 

actually considers inflation only when wages go up for the masses. We are in a thirty year trend down.

zerohedgejjxxzz12's picture

"the spend thrufts are rewarded" yes all the bankers and financiers are rewarded, meanwhile the people are cheated.


TheReplacement's picture

You lack patience.  It isn't like the system has collapsed already and silver with it.  So sorry things haven't happened according to your arbitrary schedule but in case you missed the gist:  we are all waiting for the people to come to grips with the bankers losing control and ripping them off in massive in-yo-face amounts instead of the slow bleed of previous decades.

Oh well.  It isn't too late.  You can still buy stocks now - there are and never will be any stock shortages.

OW My Balls's picture

Went to the LCS today just to buy a little [20 oz or so]


They barely even had 20 ASE's on hand. In any case, they wanted a $3.99 premium for those so I ended up just getting a couple of 10oz bars [which were only 1.79 over spot] & about 5 Maples @ 2.99 over spot

Took Red Pill's picture

Supply & demand, right? Supply gets tight and the price goes.....


p00k1e's picture

Mint sealed monster boxes are going for, Best Price: $9,060.00, delivered.  Slightly more if you use a credit card.  Slightly less if you buy more than one.  

2.85 over spot.


OW My Balls's picture

For the record, I wasn't expressing any GOOD or BAD on my above comment. Instead ~ I was just stating "what was there" [for info purposes]


Those premiums [ASE's vs. Maples, vs. rounds, vs. bars, etc], haven't changed significantly over the past several years [where I shop].

I think what I'm trying to say is that, while my FAVORITE silver round is the ASE, at a $3.99 over spot [at these Ag prices], you're ticking over 25% premium, whereas it's only a 13% premium of, say, a $30 Ag price.

So the anecdotal takeaway, [to me anyway], is that as the price drops [& under these parameters], u might as well just own the ELEMENT and not the mint stamp.

p00k1e's picture

I was only posting a source link.

No offense. 

If your area really is low on ASEs, buy a monster box and sell small lots locally or on E-Bay for $3.99 over spot.  Keep the $1.15 each, at these prices. 
Sell 23 tubes, keep two free.

Feed the demand. 

OW My Balls's picture

Yeah, it's ok. I wasn't offended or anything. I was just adding some data. No problems here. ALL 'boots on the ground' PM comments are helpful IMO

TheReplacement's picture

Shipping and handling matters. has free shipping.  That put their final shipped price on silver rounds lower than

Just sayin' cause JMB has been good to me.

Bohm Squad's picture

I saw the exact opposite last night.  It's good to have both sites up, add your items to both carts, then compare.

Paranoid Prepper's picture

For those of you who buy silver online, where do you buy it? I want to avoid con-artists and every silver website looks like it was coded over the weekend by an 8th grader in BCIS class.

I have been lurking for about a year and am ready to start my own lil' stack. If the spot price is $17/oz. how much is a fair price to get ASE coins delivered?

Agstacker's picture

I've been happy with JM Bullion and Provident metals.  Also, Scotsdale silver and silvertowne on ebay (free shipping).

Uncle Sugar's picture and apmex's picture

They have been the best to me so far! (and they accept Bitcoin)

Paranoid Prepper's picture

For those of you who buy silver online, where do you buy it? I want to avoid con-artists and every silver website looks like it was coded over the weekend by an 8th grader in BCIS class.

I have been lurking for about a year and am ready to start my own lil' stack. If the spot price is $17/oz. how much is a fair price to get ASE coins delivered?

Not My Real Name's picture

Silver: APMEX. As for gold ... I do my own prospecting.

new game's picture

bullion direct at $357/20 oz= hefty duty 16+% premium over spot. fuck that...

SuperRay's picture

This latest round of slamming PM's down began the day after Greenspan said to buy gold. Hmmm...

aVileRat's picture


Bifucation of the market is starting. Same thing happens in equities, microcaps decouple from the ETF programs which push all midcaps (ok, anything with Mcap >=4b USD) to correlation 1. So you look like a rocket surgeon when you see a 14% move in 1 day, since the secondary market momentum algos need to panic cover on the RSI trades.

Only now we're seeing this in analog world, mom & pop retail are underwater (well, everyone is if you had a weighted portfolio at VWAP:180d in a QQQ leveraged index fund). with most market professionals -10% to 3% for your year (unless you are Bill, hi Bill!). which if we strech that performance backwards into the SPX volume flows, about 80% of US investors are at some point underwater if they invested in the last 180 days in the stock market. Which is why we saw tax selling being pulled forward into October and Pension funds puke up everything on Monday/Tuesday.

So if Mom & Pop are about 20% underwater, and sold in October (or their advisor took them to cash) on record volumes, many of it retail non-standard order lots, then we can assume they are rotating to cash, given bond's yield 50 bps, HYG is pricing in a 1:5 default ratio, and 99% of people can't make a clean EPS calculation, let alone pick a stock to save their life (which is why Technicians exist). Then yes, gold and silver are going to see a record inflow into physical assets. The fact anyone can look at a EWave chart, and google "golden ratio" implies these record retails will be flushed out just as quick as they were in Amazon, Gopro,.... Tesla.... Potbelly?

Come back when we see the US Mint/Canada Mint pull-forward delivery from 2016/17 miners to meet demand. Then we will talk. This press release is akin to when a company lowers guidance with a profit alert, then happens to "beat" the street.

bbq on whitehouse lawn's picture

Or the Japanese are moving into coins as they did last time their politicos tried to break the yen. Will see if Abe has some staying power or if he is shown the door at 122 vs the dollar.

After that those cute Japanese will make China and Indian demand look like an after thought. Japanese coin demand is about to go nuclear if Abe has his way.