After the U.S. Mint updated its bullion figures on Monday, 2014 Silver Eagle sales reached a new annual record surpassing last years total by nearly 200,000. Not only was 2014 a banner year for world’s most sought after official coin, the Silver-Gold Eagle ratio also hit a new record high.
The U.S. Mint sold nearly a half million Silver Eagles over the weekend, putting the total for December at 1,317,000. This strong weekend demand pushed total annual Silver Eagle sales to 42,864,000 over last years previous record of 42,765,000. Furthermore, there are still a few more weeks remaining in the month.
As we can see from the chart above, investors purchased 82 Silver Eagles for every Gold Eagle ounce in 2014. This is up from 50 to 1 in 2013. The reason for the big increase in the 2014 Silver-Gold Eagle ratio was due to weak demand of Gold Eagle sales (523,000 oz) as Western investors sought refuge in one of the two FED INDUCED PAPER PONZI SCHEMES — Bonds & Stocks.
The U.S. Mint program reached another important milestone in 2014. Total Silver Eagle sales from 1986 to 2014 surpassed 400 million. This is indeed a huge figure. If we look at the chart below, we can see just how strong Silver Eagle sales have been since the collapse of the U.S. Housing and Investment Banking Industry in 2007:
Since its inception in 1986, the U.S. Mint sold 401.4 million Silver Eagles and 20.6 million oz of Gold Eagles. This is an overall Silver-Gold Eagle ratio of 19 to 1. However, if we just consider sales of these two official coins since 2008, demand for Silver Eagles are twice the historic Silver-Gold ratio.
From 2008 to 2014, the U.S. Mint sold 234.1 million Silver Eagles and 6.6 million oz of Gold Eagles. Thus, the Silver-Gold Eagle ratio nearly doubled to 37/1 in this seven-year period, compared to the 19/1 ratio from 1986-2014.
Furthermore, the U.S. Mint sold 60% of its total Silver Eagle sales from 2008-2014 — an astonishing trend. Just think about that for a minute. Investors purchased 243.1 million Silver Eagles in the past eight years compared to 401.4 million since 1986. This is nearly double the rate of the 2008-2014 Gold Eagle sales of 6.6 million oz at 32% of the 20.6 million oz sold since the program started.
When I spoke with Michael White, U.S. Mint public affairs person a few weeks ago, he could not tell me how long they planned on selling 2014 Silver Eagles. Normally, in December, the U.S. Mint shuts down production of Gold and Silver Eagles, and retools for the next year’s release.
I would imagine we might see sales continue until at least the third week of the month. If Silver Eagle sales remain strong for the next two weeks, there is a chance we could see a total of 44+ million for the year.
UPDATE: The U.S. Mint sold another 187,000 Silver Eagles today, bringing the annual total to 43,051,000.
In addition, I believe sales of the 2015 Silver Eagles will be very strong in the beginning of the year. Today, the price of gold and silver are skyrocketing as the broader stock indices plummet. This may be the sign precious metal investors have been waiting for… A REAL BOTTOM.
Right now, the price of gold is up $30 and silver, $0.70. If we truly seeing the MOTHER OF ALL REVERSALS, 2015 may turn out to be quite the pivotal year.
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