In The First Few Days Of 2012, US Mint Sells More Silver Than In Most Months Of 2011

Tyler Durden's picture

In the first few days of 2012, the US mint has already sold 4.3 million ounces in silver coins. This is more than in all individual months of 2011 except for January and September, when the mint sold 6.4 million and 4.5 million ounces. Is the retail love affair with physical silver coming back with a vengeance?

2012:

2011:

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Don Birnam's picture

The over/under regarding the Mint "suspending" further issuance of Eagles later in 2012 ?

Anyone ?

Deo vindice's picture

I don't have the facts to back it up, but the strong suspicion that it is a likely scenario.

sitenine's picture

There has been a lot of talk on this stat flying around for a week now.  It's an accounting trick.  From what I've heard, about $3M is actually December sales or 'presales' booked as January sales.  Basically a nonstory.

http://silverdoctors.blogspot.com/2012/01/2012-silver-eagle-sales-nearly...

JoeSexPack's picture

Add December & January sales for the previous few years & compare totals.

sitenine's picture

Well, we can't do that until January is over with now can we? I'm as bullish on silver as anyone, but I'm not inclined to jump into anything based on faulty accounting methods or premature hype. Yes, the trend is up over the past few years, but lets not get ahead of ourselves.  Regardless, my comment is simply speaking to the headline, "In The First Few Days Of 2012, US Mint Sells More Silver Than In Most Months Of 2011," which is a foul assertion because of the accounting used.

Comay Mierda's picture

if you are not buying physical silver right now you should check yourself into the nearest mental hospital. The technicals and fundamentals are EXTREMELY bullish. More so than gold.

flacon's picture

Gartman is a boil that needs to be popped. 

sitenine's picture

Not so fast - It looks as though hell may have just froze over.

Yes, even Gartman is coming around to reality:

http://business.financialpost.com/2012/01/05/gartman-admits-he-made-a-bl...

akak's picture

Yes, Gartmann is a bubble.

I just hope to God I am not around when that particular bubble pops ---- ewwhhh!

SeverinSlade's picture

The same accounting method likely would have been used at for December 2010/January 2011.  If that's the case, it's fair to compare both figures.

trav7777's picture

probability that once they do, rabid slobbering ZH silverbugz start announcing "$60 by next week"?

100%

akak's picture

Fuck off Bob Moriarty, you insane silver-hating troll.

Mr Lennon Hendrix's picture

But don't forget, Trav owns silver!

....or does he?

I can never tell.

akak's picture

Rumor has it that he ripped out half of his teeth with pliers himself, just to be rid of that "evil white metal".

He's totally OK with ingesting mercury, however --- and it shows.

Bay of Pigs's picture

He's in a league of his own when it comes to douchebaggery on silver...

akak's picture

He's in a league of his own when it comes to douchebaggery

PERIOD

 

Yellow Tang's picture

Shouldn't the article be titled:

 

"US Mint sells 33% less silver than January last year."

 

January is always a bumper month but the fact that less silver is being sold than this time last year is more telling.  January ALWAYS sells more silver than most other months.  Talk about misleading.  I own a lot of Silver but I feel this article is written in desperation and just goes to show the lengths that many outlets have been going to in the last few years to pump up silver demand.  Keep pumping please, but I ain't buying any more when the Morgue holds all the cards.

dalkrin's picture

Please check your calendar and come back for a revised total when we are no longer living through January 2012.

XenoFrog's picture

Good thing for us silverbugs that there's still 2/3 of the month left to add to the total.

tallen's picture

Usual trash from Trav.

Palladium went from $200 to nearly $1,000 in just 3 years(1997-2000)

1950: 10Bn Ounces of silver in reserves above ground , 1980 - 3.5Bn, 2010 ~700M ounces.

Above ground silver has dropped by 91% since 1980

Historical silver:gold ratio was 15, today it is 55:1. Also only 10 ounces of silver mined for every 1 ounce of gold mined.

Industrial demand was up 18% in 2010. Consumed in bandages, soldering, catalytic converters, electronics, weapons, water purification, ECBs, RFIDs, Lasers. The list goes on.

Investment demand soaring, just read the article above!

Peak silver reached in many US states including Nevada, production remains in heavy decline. Ore grades globally collapsing.

US Debt ceiling being raised again, massive money printing globally.

Source: http://www.youtube.com/watch?v=-IiarVvZguY&feature=channel_video_title

Now where to invest: PSLV is far too overvalued at a 30% premium. Physical suppliers out there like Tulving and Bullionvault are probably the best, but if your looking your portfolio then CEF is probably the cheapest. 

Argos's picture

Yeah, did that yesterday.  Dumped PSLV, at the time it had an incredible 32% over NAV and bought CEF.  Only time will tell.

Mr Lennon Hendrix's picture

Why not buy physical?  You get to keep your money in your hand.

Instant Karma's picture

If you have a decent chunk of change to invest in metal, silver weighs too much to physically take delivery. Someone has to store it for you, hopefully not re-hypothecating it lol. 

Prometheus418's picture

It's crazy how large the spread on what a "decent" amount of money is here.

A monster box of ASEs is about 34 lbs- and that's $17,000, give or take.  Even if you have to make a few trips, it's hardly impossible.

There was a point once when I had just short of a ton of copper- now *that* was too heavy to carry around.  Even so, a hand truck and some good boxes made it moveable when I sold it.  If you've got that much physical silver, I'm sure you can afford to rent some equipment to move it, and a poured concrete vault with a good vault door on it to keep it in.

Of course, if you have that much net worth in PMs, by all means, buy gold and be done with it.  Silver is a middle-class metal.

aphlaque_duck's picture

How does one get a good price on that kind of qty of copper?

zhandax's picture

A hundred ounce silver bar is the size of two packs of regular (non-100) cigarettes laid end to end.  It weighs about 7 lbs.  The floor of any business record storage place in the world will support 1000 of these quite well.  If you anticipate having to throw the whole lot in a suitcase and leave in a hurry, you are better off with gold.

trav7777's picture

bbbbut....bbbbut...production CAN'T peak.  We'll just use ionic liquids or some such shit to magically maintain an exponential growth curve.  Won't we?

I mean, when you substitute "oil" for "silver," that's sure as shit what you hear.

I agree with what you're saying, just had enough of the irresponsible stampede herd mentality.

bernorange's picture

Do you fancy yourself a member of the responsible naysayer herd mentality?

MillionDollarBonus_'s picture

The irony is that despite these figures, the price of silver has only just crept above $30. It looks like the doomers are as dishonest about the true supply of silver as they are crazy. This silver pumping is just getting plain embarassing, not to mention irresponsible.

Mr Lennon Hendrix's picture

MDB, care to state the definition of monie?

Comay Mierda's picture

MDB is still recovering from his horrible call to buy BAC at $6.08 while I was saying it would plunge to lower $5s.  and it immediately plunged to the $4s.  Million Dollar Dumbass knows nothing about predicting market movements. Buy phys silver, as much as you can get your hands on, its about to come back strong

infiniti's picture

Hate to ruin your day but BAC is at $6.63, a 9% gain in about 3 months. What has your silver done in the last 3 months?

 

trav7777's picture

PWNED.

And the other guy got pwned by a freakin TROLL.  silverbugz are getting pwned by people who are making SARCASTIC calls for knowingly bankrupt banks' shares.  lol

Comay Mierda's picture

hate to ruin your day too, i called the lower $5s on the downtrend.  since then ive called for $7 BAC on the uptrend.  that call is going well too.  I never said anything about silver because it is heavily manipulated by JPM (see Andrew Maguire interviews) and has been taken down artificially.  you can tell by the unnatural technicals.  however, the buying power is too strong at these levels.  do yourself a favor and buy some phys silver.  you'll love me in 3 months

tocointhephrase's picture

Well in truth the paper price known as 'spot' got smashed, however the physical price is now 100% over ie £19 spot £36+ physical. Hope that helps?

agent default's picture

What silver pumping? What silver price?  Suppose someone bought 50%  of COMEX open interest and demanded delivery.  What sets commodity prices  you dumbass FUCK?  The paper markets?  The issuance of futures against material you do not hold is just levering up against the physical market, ie Reality.  You still don't get it do you?

Mr Lennon Hendrix's picture

Suppose someone bought 50%  of COMEX open interest and demanded delivery.

They would get a check in the mail that says, "Your delivery was undeliverable."

MillionDollarBonus_'s picture

Why would a futures holder demand delivery of physical metal? Most normal people are perfectly content with cash settlements in US dollars. Our bond market is the largest in the world, and dwarfs the petty precious metals market. This is because savvy investors understand that the dollar is a SAFE-HAVEN. And these are REAL investors at top financial institutions, not crazy doomer conspiracy theorists with stacks eagles buried in their back yards.

akak's picture

The earnings on the physical metal investments of your "doomer conspiracy theorists" have FAR outgrown the laughably pathetic earnings on stocks, bonds, and the other paper assets of the financial Establishment (for those that even HAD any real earnings -- most did not) over the last ten years.  And you can take that to the bank --- or on second thought, don't.

JW n FL's picture

 

 

akak ,

Bro.. it is Wagner pulling you leg.

dont get caught up in his cast net!

LULZ!

 

trav7777's picture

huh?  Physical metals don't earn a coupon, dude, unless you play paper games with them

CompassionateFascist's picture

When the Hebrews, the Black Undertow, and mestizos - not to mention ObamaRomney - finish sucking America dry, my eagles - secured by lead - while buy food at the local farmers' market. Paper Ponzi People will be using dollars in lieu of toilet paper.

GiantVampireSquid vs OWS UFC 2012's picture

I'll gladly trade my food for your silver.

zhandax's picture

Physical metals don't earn a coupon, dude

Like bonds earn enough to worry about...

JW n FL's picture

 

 

HEY!!

1.9% Baby!!

That's a LOT of Money!!

Silver Gains that and Gives it back every day!

Vol! / PM Vix ='s $$$$$$'s!!

Missiondweller's picture

And how long have you been shilling for JPM?

JW n FL's picture

 

 

MillionDollarBonus_

Why would a futures holder demand delivery of physical metal? Most normal people are perfectly content with cash settlements in US dollars. Our bond market is the largest in the world, and dwarfs the petty precious metals market. This is because savvy investors understand that the dollar is a SAFE-HAVEN. And these are REAL investors at top financial institutions, not crazy doomer conspiracy theorists with stacks eagles buried in their back yards.
And you can leverage the paper market for more paper! And you can fold the paper and carry it easily! You can NOT! do either with Eagles Burried in your back yard!! You guys should cut Bonus some slack!! he is ahead of his time! LULZ!
Benjamin Glutton's picture

Kyle Bass answers your query.

 

Why would a futures holder demand delivery of physical metal?

 

http://www.youtube.com/watch?v=CjAeriVttw0&feature=related

 

2 minutes.  Did this set MFGlobal takedown by CME/JPM into motion?