"Unprecedented Demand" - US Mint Sells Nearly As Much Gold On First Day Of 2016 As All Of January 2015
While Chinese residents were lining up in front of banks and currency exchange kiosks, desperate to convert as many of their Yuan into dollars as the government will permit, Americans were likewise busy exchanging their own paper currency, so greatly in demand in China, into gold and silver.
As Reuters reports, American Eagle silver coin sales jumped on Monday after the U.S. Mint said it set the first weekly allocation of 2016 at 4 million ounces, roughly four times the amount rationed in the last five months of 2015, after a surge in demand. It will not be enough.
According to the Mint, more than half of the week's allocation of silver sold on Monday, the first day of 2016 sales, a sign that demand entering 2016 is literally off the charts.
Putting the silver demand in context, the 2.76 million ounces of silver bullion coins sold today is exactly half of the 5.53 million ounces that sold in all of January 2015.
Needless to say, if the demand from the first day of the month continues through the end of January, the first month of 2016 will set an all time record in silver sales.
And gold.
First-day sales of American Eagle gold bullion coins was also unprecedented, with the 60,000 ounces sold equal to roughly 75% of the 81,000 that sold in the entire month of January 2015.
As reported previously, the mint ran out of American Eagle silver coins in July because of a "significant" increase in demand as spot silver prices fell to a six-year low. Inventory was replenished in August and sales resumed. But the coins were on weekly allocations of roughly 1 million ounces for the rest of the year because of low supplies.
This dramatic surge in demand, we noted out at the time, was a shock and a paradox to equity investors and momentum stock chasers, who seek to dump an asset the cheaper it gets, contrary to what has happened with physical metals for the 4th year in a row. It is amazing that at least some investors still act according to the fundamental laws of supply and demand.
It wasn't just the US: the unexpected surge in demand put the global silver-coin market in an unprecedented supply squeeze, forcing other mints around the world to ration sales, while U.S. buyers had to look abroad for supplies.
Should the epic demand for precious metals from the first day of sales persist, we are confident that the Mint will run out of gold and silver within a few days.
(13 votes)
»
- Login or register to post comments
- Printer-friendly version
- Send to friend
- advertisements -
The book of enoch is "out of this world".
Better be the right time. I'll throw my shit for the lord.
When the Lord shows up i will be happy to toss my silver and gold into the streets...
Jesus is Coming and Boy is He Pissed
hedge accordingly
It's going DOWN. SSE Composite Index 2,991.34
Thehellyousay?
Really need to see 1st day vs 1st day so we are looking at apples not apples and oranges.
Secrets of Gold #Mind Blow [ Full Documentary ] HD
A very good gold documentary exposing the manipulation and how the paper gold market is used to supress gold further.
These sales had to be sandbagged from 2015 just like gov debt surged $500 billion in Nov. after the traitors raised the debt ceiling.
and that doesn't even include my 20 oz. for the month...slowly but surely keep on stackin (silver not gold....I wish)
Barbarous relics.
UBS says buy gold.
http://www.zerohedge.com/news/2016-01-06/ubs-sees-30-bear-market-get-out...
Those soaring sales MUST explain why the prices won't go up. It all makes sense now! Bad news is good news is REALLY working!!! These guys GOT this!
I had to pay 20% over the spot price for physical 1oz American Eagle & Canadian Maple Silver coins in 25oz tubes. What's interesting is both myself and the person selling felt each other were the sucker in the fiat-for-physical transaction today.
Damn!
Here in the UK I get sovereigns at Spot +8%, seems like you are being diddled somewhere.
I get mine from the high street second-hand jewellers. It is fun the amount of attention you get when you pull out a sovereign gauge and your own scales. They do not even bother asking for name/address, which is why I prefer them to postal bullion.
As an aside, there does seem to be plenty of gold around, but hardly any silver. Silver pile is very small.
Yeah baby! Break the bank!
You know things are coming unhinged when you have Chinese trying to get dollars hand over fist and most certainly gold as well and then the price barely budges.
They are going to regret these old ladies and banana vendors learning anything about markets. Chances are after they lose their ass they will at least walk away with an understanding of the insurance gold provides. Shit, there are zillions of them and that could change everything all on it's own.
The US Mint is fuckan joke. They arent even trying to hide their own manipulation efforts.
I think the US Mint and the Fed have drinks together where they whip out their a phyz and brag about how which one is the bigger crook.
People are awakening to new barberic necessities in these times of ours...
Gosh. Many are getting it. Soon we'll see the consequences.
Not a good day for any of the metals, precious or not. Spot Gold sold off, spot silver was off just a bit, and spot Platinum was Drunken Monkey-Hammered. The only stocks I now own outside of SH, are gold and silver miners. The miners were simply taken out and shot, much worse of a performance that the underlying performance, like 2X and 3X worse. Even large cap miners like Newmont sold off, and the small cap miners ( EXK, AG, HL for example) took it even harder. Makes me wonder if a commodity hedge fund or two just blew the hell up today, led by a 20% price drop in Freeport Mcmoran. Had to believe FCX traded down to $4.23 today.
I guess the moral to the story is to hold Phyz, but I honestly think we will see lower PM metal prices than at current levels to grow our stacks.
The time may be coming soon to buy platinum, now at around a 30% discount to gold. Platinum will do well if the world economy comes back.
"Platinum is for optimists."
I was thinking the exact same thing today. Platinum bullion coins are not exactly the easiest find at a decent margin over spot. Probably is time to add some more Platinum to the PM stores. With South Afrika sinking deeper into chaos, longer term it should help support Platinum prices.
Gold is working really hard to take out last Thursday and Friday, spike lows around $1090.00
I believe demand is rising, but not this much. I assume these numbers are "mint sales to dealers", not final/retail buyers.
So most of this rise must be due to other factors than final/retail demand.
However, here and there we are starting to see events that correspond with complete collapse. For example, overnight bank-to-bank lending rates instantly pop to 85%. That kind of thing doesn't happen unless some big institution is about to collapse, or banks start to seriously question whether other banks will vanish in the next day (or the currency will dramatically collapse in the next day).
We are definitely seeing events that indicate something huge is starting to happen... even faster than those of us predicting collapse expected.
Someone should create a web-page with links to stories about all such events so traders can try to recognize patterns, then take advantage of them (until the day the fake markets and banks close, at which point all bank accounts and paper instruments become worth zero).
Re: who is buying PMs you ask? Not Joe 6-pack. Dealers yes, but not only dealers.
Keith Neumeyer believes many high net worth investors and BANKS(!?) are pushing physical sales. In other words, smart money. This makes sense to me. Who better to know a storm is approaching than the banks. I do not believe Keith is merely talking his book.(CEO First Majestic Silver, Chairman First Mining Finance)
https://www.youtube.com/watch?v=zsISu7nTRVM
Yes, I believe big entities are buying. However, surely NOBODY believes the actual final/retail demand increased BY A FACTOR OF 30 TIMES. Do you?
If the demand actually increased by a factor of 10x (much less 30x), no way could you buy one-ounce 99.99% silver rounds for $0.99 per ounce over spot (for example):
http://www.apmex.com/product/83620/1-oz-silver-round-apmex-rmc-9999-fine...
-----
Yes, very strange and interesting things are starting to happen, but we need to keep our heads screwed on straight or sloppy language will mislead us.
I believe January is traditionally a time when dealers make larger purchases than normal. And no, I do not believe "final retail demand" increased by a factor of 30. That was why I also mentioned dealers. Also this was one day - a spike. Agree with you about the danger of loose language.
It does seem to me that things are most definitely heating up in the financial markets. Where there's smoke there's fire. And sooner rather than later the fire will reach the metals.
Interesting times indeed.
These guys know better than you because its their money? I dont think they want too much of a useless relic? WHY WOULD THEY?
ITS A BIG FUCKING DEAL? Gold is around 20 times the demand of last year???? on the first day? FUCKING WOW? Silver is around 15 times? price declining? Elevator coming down, so those more fortunate can hop on? TELL ME EINSTEIN WHY IS PRICE DOWN? ON A 15 fold increase in demand? If this was an IPHONE HOLY SHIT!
FUCKING IDIOTS ON HERE ???? LOOSE FUCKING LANGUAGE IS WHAT GOT US TO THIS POINT, TRY THE FUCKING TRUTH MORON!
At this point GOLD/SILVER will probably run out 15 to 20 times faster than it did last year and note: it is illegal for the US Mint to run out of silver supply. I guess things have to completely run out for people to believe there are issues? WTF? I cant handle the fucking stupidity anymore! Brain dead fucking morons.
Based on demand there are a few who think Gold/Silver is not a relic? This is a sign of major problems that they cant keep the lid on much longer... PERIOD! I dont even have to know what the problems are.. The demand tells me everything I need to know... RUN FOR COVER. Its funny you would think with all the negatives demand would be going down, wait until the tide really turns.
On one side of the forum a 15 fold increase would send price to the moon, on the other side its no big fucking deal... UNREAL.
Price of GOLD/Silver Right now proves Massive corruption. Only a PURE FUCKING IDIOT WOULDNT SEE IT?
Potty mouth.
It helps me to express the full extent of my anger. The market is entering a different phase, I believe and Im trying to get people to "Think" about what they are saying.
Stack as if your wealth depended on it
The world's largest gold coin 100 KG $1M (CDN) 5-9's pure.
100kg?
Pikers.
Perth mint 1 tonne gold kangaroo is the largest
The Chinese have a 2-ton Panda.
Does it talk like Jack Black?
I'm sure the shortage is due to the same companies in the business, anticipating the last to respond crowd and those past non-believers.
please, just save me an ounce or two...won't be long though, saving five dollars per week and got twentfive dollars now
I imagine most of that is sales to dealers.
Not a big deal, that "record demand" is still only 1.8 tonnes, which is about 6 hours of mine production.
Sales of Silver Eagles do not drive the silver market. In its best year (2014), the Mint sold 44 million Silver Eagles, which is only 4.4 percent of average annual silver demand.
Pointing out inconvenient facts about the precious metals market will get you downvotes around here, Anopheles.
All silverbugs must watch this car get tailed by this drone https://www.youtube.com/watch?v=b4kSucsa7zI
Ok, I give up. How is this nightime video of a drone related to silver bugs?
Back up the truck! Rake it in with both hands and feet! Buy moar silver now before it gets to $10 an ounce!
with oil at $30 and millions of famine latinoes willing to work for a mug of chilli every ouce of silver and gold costs
1 cent to mine !
How many TRILLION ouces do you want to buy ?
When they stop selling it will the price go up?
Whenever Americans start hoarding gold & silver
know that
a crash is coming
Why ?
ur not that stupid
I'm always amazed that the people who keep telling us how high gold and silver are going to soar are the VERY SAME people who want us to by THEIR GOLD and SILVER!!
Did you read the article? Lots of people want it? Now ask yourself why? This type of demand with a decreasing price is proof of manipulation.. You only need to read this article to believe it.
there is no price manipulation you idiot
if you want to buy a million ouces of PHYSICAL PM you go to a coin shop and you buy them ! At the spot price
And gold is still going down ...
errr guys,, not too sure about the biblical end times scenario; dont think it's that bad just yet; however have to agree that there is a big movement on at the moment in physical sales our product is flying out the door. we are also noticing trade prices for phyzz are on the uptick..
also for all the talk of all the stacking by ZH'ers (and Im guessing lot of it is talk and not actually action) - why dont you consider becoming sellers of bullion.. We could be doing with more agents and if your actually able to sell some gold you will get paid generously in cash and gold... all for doing what you love - join up, you may actually enjoy it
www.teamramgold.com/about-us