Fear Spreading In The Global Financial System Pushes Gold & Silver Eagle Sales To New Highs

With the continued uncertainty in the global financial system, investors purchased record Gold and Silver Eagles.  Sales of Gold and Silver Eagles remained subdued in the first five months of the year…. that is, until the situation of a possible Greek exit of the European Union stirred up a huge surge in buying in June.

As I mentioned in past articles and in my recently released THE SILVER CHART REPORT, buying of Silver Eagles increased as the price of silver declined, but Gold Eagle buying tends to spike during times of financial trouble or turmoil.  Well, the chart below shows the huge increase in Gold Eagle sales compared to the same period last year:

Gold & Silver Eagle Sales 2014 vs 2015

Gold Eagle sales for the first seven months of the year, increased a staggering 50% from 296,000 oz in 2014 to 443,000 oz in 2015.  Most of the Gold Eagle buying took place in July with total sales for the month at 170,000 oz.   Thus, Gold Eagle sales in July account for nearly 40% of total sales for the year.

Now, if we look at Silver Eagle sales, they have also surpassed their record set last year.  Silver Eagle sales from January to July reached 27.3 million oz (Moz) compared to 26.1 Moz during the same period last year.  This was a surprise as sales of Silver Eagles in the first five months of 2015 (Jan-May) were down 21% compared to the same period last year. 

This means, sales of Silver Eagles were so strong in June and July, total sales in 2015 are now 5% higher than they were last year… at this time.  Here are the comparisons:

Silver Eagle Sales

June 2014 = 2,692,000

July 2014 = 1,975,000

June 2015 = 4,840,000

July 2015 = 5,529,000

Here we can see that Silver Eagle sales in June and July 2015 (10,369,000) were 123% higher than June and July 2014 sales (4,648,000).  Not only has the lower price motivated record Silver Eagle demand, but so has the financial turmoil stemming from the Greek situation in Europe. 

Again, I continue to hear from large dealers that there is more silver bullion buying than gold.  If the situation in Europe spreads or we see a huge stock market correction in the fall, we could see such a surge in precious metal buying that actual wholesale shortages could appear.

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18 Comments on "Fear Spreading In The Global Financial System Pushes Gold & Silver Eagle Sales To New Highs"

  1. Those buying are wealthy individuals, funds, or corporations, and a small number of non-wealthy citizens. Probably only about 1-2% of the non-wealthy population in countries like the U.S. buy PM’s. It could be that far less than 2% of the population has as much as ten ounces of silver or one ounce of gold, not counting jewelry or silverware.

    So in reply to the question above “Got your physical gold and silver?? “, few do, despite the benefit of owning them in the future, and in particular how dirt cheap silver is right now.

  2. Flying DutchMan | July 31, 2015 at 2:06 pm |

    Here in the Netherlands they say like “Wie het eerst komt, het eerst maalt” which means pretty much as “He who cometh first get to choose” and the rest can wait in line.

    Of niet dan Houtskool?

  3. Flying DutchMan | July 31, 2015 at 2:12 pm |

    We also cannot forget the enormous representation of PM in movies like the Hobbit, Pirates of the Caribbean, and other gold-movies.

    Imagine some pirates fighting over some paper-currency, how silly is that? 🙂

    But perhaps this has nothing to do with increased selling of pm across the globe.

  4. Those low precious metals prices are nice. 100 times leveraged paper gives opportunities to those that can see them. Even .gov trolls and people who bought silver at $28 see it. It’s obvious; paper is on it’s way to the oven of history.

    It’s your duty to inform the widows and orphans among your sad Facebook community about the funeral of paper assets and that it’s time to meet your real friends.

    • I too am concerned with widows and orphans, thats why I joined the Clampers. A fun loving group, attempting to do good. Almost got a bridge named after it’s unofficial leader, Emperor Norton. He, in my humble opinion was way ahead of his time. Check it out, E Clampus Vitus. Warning: it’s for the serious but with a twist.

  5. Flying Dutchman | July 31, 2015 at 2:50 pm |

    It’s something in the title that made me react.

    Is it fear or is it love? Perhaps it was fear in the beginning at 28 but now it is love and logic. Love for the metals while the MSM is bashing the shit out of it.

    See the silverbugs community at reddit for more…

  6. Seems as the world gets nervous, more and more people are getting hip to Dabloons. Not just the Central Bankers ( who are net purchasers, in spite of their bashing bullion) and the fat cats. No longer is it dyed in the wool Gold Bugs, but the every day guy who never gave much thought to owning Gold and Silver are now getting their feet wet, jumping in, grams at a time. Good for them ! Everyone, Enjoy your weekend.

  7. Paper Silver | July 31, 2015 at 7:34 pm |

    Could it be that below $15 Silver is simply a screaming DEAL.

  8. Also, don’t forget that the Gov’t. shut down the selling of Silver Eagles after the first week of July. I’m sure sales would have been much higher if the stock had been available.

  9. “Shut down” i.e. ran out

  10. Joe Lindell | August 1, 2015 at 8:48 am |

    Yes it is nice to see demand going higher in the buying of silver eagles. But this buying of
    a few million coins when we have a billion to 2 billion ounces of silver above ground doesn’t
    come close to being noticed or putting a dent in the demand/supply. The Silver Institute projects
    a demand of 57+ million ounces more than supply. If the above ground “guesstimates” are
    the least bit accurate we have enough silver to last 15 years or more. Does anyone here
    think the above ground silver figures are accurate?

  11. I believe most above ground silver is held by private citizens or on commodities exchanges as the Silver Institute reports no govt. sales indicating those stock piles are depleted. Industrial usage is about 400 million ounces per year and most of that silver is not economically feasible to recover or can’t be recovered after processing. So industry alone could burn through 2 billion ounces in 4 years assuming the high number you mentioned. btw I don’t know the above ground supply but, I believe it is scarce and one year global production is about 15 billion dollars ( about a week or two of the US fed reserve money printing)

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