As most Americans plowed into the Biggest Stock Market Bubble in history this year, wise investors purchased the highest Dollar amount of Gold Eagles ever. Even though the worst of the Pandemic seems to be in the rear-view mirror, demand for Gold Eagles was much stronger than last year, especially in the past two months.
According to the U.S. Mint, Gold Eagle Sales for October and November were 279,000 oz, nearly 130,000 oz more than was sold for Full-Year 2018!! That’s correct. The U.S. Mint sold more Gold Eagles in October and November (279,000 oz) than it sold for all of 2018 (152,000 oz). Furthermore, total Gold Eagle sales for Jan-Nov 29th of 1,201,500 oz surpassed last year’s total of 844,500 oz by a wide margin.
And, if we look at annual Gold Eagle sales since 2005, this year’s total is the third-highest. However, I would imagine when the December sales come in, it will surpass the 1,220,500 sales in 2010.
As I mentioned at the beginning of the article, 2021 Gold Eagle sales are the ‘HIGHEST DOLLAR AMOUNT” ever. In 2009, the average gold price was $972. If we include a premium with the total price at approximately $1,050 per Gold Eagle coin, that is $1.5 billion in sales. Now, compare that to the 1,201,500 oz sold at an average price of $1,900 to equal $2.3 billion.
CLOUD HARD ASSETS is currently selling 2021 1 oz Gold Maple Leafs at the lowest price versus the leading online dealers. Also, if you go to the bottom of this article, you will see that Cloud Hard Assets sells 2021 Silver Krugerrands at only $3.50 over spot, and this is by far the lowest price versus the top online dealers.
You can check out Cloud Hard Assets Here: Precious Metals Prices.
While $2.3 billion of Gold Eagle sold so far in 2021, it’s peanuts to the $8.4 trillion massive increase in the U.S. stock market this year. Savvy investors protected $2.3 billion worth of wealth in Gold Eagles versus the $8.4 trillion increase in the Wilshire 5000 Index market cap.
Thus, the $2.3 billion is only 0.03% of the $8.4 trillion increase in U.S. stocks. Even though we may see the gold price correct lower, this is only temporary as the world heads closer to the ENERGY CLIFF. Furthermore, if we go by the World Gold Council, the total U.S. Gold Bar & Coin demand for this year will be approximately 3.8 million oz with an estimated value of $7.2 billion. Which means, Gold Eagle sales represent about 1/3 of the total U.S. gold bar and coin investment this year.
Regardless, $7.2 billion of U.S. physical gold bullion purchases is still only 0.09%, or one-tenth of one percent of the massive increase in the U.S. Stock Market Bubble. Guess who is going to be the better investor over the mid-long term??
Here is the chart of the Wilshire 5000 Market Cap heading into BUBBLE HEAVEN…
You will also notice that $8.55 trillion of Assets is now on the Fed’s Balance sheet. According to Ed Yardeni, Central banks hold nearly $31 trillion on their Balance Sheets… a nifty trick to prop up the Global economy and financial system. We must remember that Central banks only held $5 trillion on their balance sheets before the 2008-2009 Financial Crisis.
So, even though Gold Eagle sales have reached 1.2 million oz this year… it’s peanuts compared to the massive Financial Bubbles that will be BLOWING UP all over the world as we head over the ENERGY CLIFF.
Lastly, we shouldn’t be concerned if the precious metals prices experience a correction lower along with a broader market selloff. Of course, it is not a guarantee that this will happen, but it is just a short-term cycle on the way to much higher prices. Moreover, it will be interesting to see how lower gold and silver prices impact the “AVAILABILITY & PREMIUMS” of bullion products.
As mentioned, CLOUD HARD ASSETS is selling Silver Krugerrands, Philharmonics & Britannia’s at only $3.50 over spot. Please go to your favorite online dealer and see if they can match that price.
You can check out Cloud Hard Assets Here: Precious Metals Prices.
DISCLAIMER: SRSrocco Report provides intelligent, well-researched information to those with interest in the economy and asset values. Neither SRSrocco Report nor any of its owners, officers, directors, employees, subsidiaries, affiliates, licensors, service and content providers, producers or agents provide financial advisement services. Neither do we work miracles. We provide our content and opinions to readers only so that they may make informed decisions on all types of assets. Under no circumstances should you interpret opinions which SRSrocco Report or Steve St. Angelo offers on this or any other website as financial advice.
Check back for new articles and updates at the SRSrocco Report. You can also follow us on Twitter and Youtube below:
Why has all the available gold and silver not been bought up already?
Is that something likely to happen in the next year or so? Will gold and silver really become unaffordium and unobtainium?
“Why has all the available gold and silver not been bought up already?”
Because they keep mining more all the time, and reselling a lot. And there is recycling.
“Is that something likely to happen in the next year or so? Will gold and silver really become unaffordium and unobtainium?”
Those two questions have no quick answer. They require knowledge and discussion. A partial answer: the wealthy and well-connected, e.g. established customers of businesses that cherish established customers, will be taken care of with priority. Just like my independent mechanic I’ve supported since 2002. I can get my car in for service on short notice when a new customer can’t, as they operate at capacity.
“Investors Purchased A Record Amount Of Gold Eagles While Most Americans Plowed Into The Massive Stock Market Bubble”
And some plowed into cryptos.