With the newest U.S. Mint update today, Gold & Silver Eagles sales continue to be quite strong as investors take advantage of lower premiums. Since the end of last week, the U.S. Mint has sold another 668,000 Silver Eagles. Already, Silver and Gold Eagle sales surpass the total last year by a wide margin.
Once the U.S. Mint was finally able to bring on its newly designed Gold and Silver Eagles, investor demand continues to be elevated. In the first two weeks of August, the U.S. Mint has sold 2,259,000 Silver Eagles and 78,500 oz of Gold Eagles. So far this year, the U.S. Mint Silver Eagle sales are 21.2 million compared to 18.1 million in the same period last year.
Also, the 18,178,000 Silver Eagles sold for Jan-Aug 2020 was for the entire month and last year. Furthermore, the U.S. Mint sold 4,4770,000 in August 2020 when it finally got a decent supply of Silver Blanks. If the U.S. Mint sells another 1.5-2 million Silver Eagles in the second half of August, total sales will be over 23 million.
Now, Gold Eagle sales are actually stronger than Silver Eagle sales. Total Gold Eagle sales this year are 790,000 oz versus 615,500 oz during the same period last year.
With total Gold Eagle sales of 844,000 oz last year, the U.S. Mint is on track to surpass 1 million this year. It has been a decade since the U.S. Mint sold 1 million oz of Gold Eagles. What happens when Americans really start to wake up and demand surges to 2-4 times this amount? It’s not a matter of IF; it’s a matter of WHEN.
Precious Metals Premiums Are Falling, But Are You Paying Too Much?
I corresponded with Dan at Cloud Hard Assets today, and he shared the silver and gold product premiums. When I went to the other Major Online Dealers websites to check their prices… I was quite surprised that the Cloud Hard Asset premiums were lower than most. Matter-A-Fact, Cloud Hard Assets is providing the LOWEST PREMIUMS on the new 2021 Silver Eagles.
I didn’t have time to make a chart, but I will show the leading Four Online Dealers TYPE #2 2021 Silver Eagle prices (premiums) based on buying 99 or fewer coins at the current silver spot price of $23.92.
New 2021 Silver Eagles
- SD Bullion = $33.32 (+$9.40)
- JM Bullion = $34.06 (+$10.14)
- Money Metals = $33.41 (+$9.49)
- APMEX Inc.= $35.48 (+11.49)
- Cloud Hard Assets = $31.77 (+$7.85)
I was quite surprised to see how low Cloud Hard Assets premiums on the new Silver Eagles were compared to the leading competitors. I challenge anyone to check these prices. Also, I thought you would all like to know what Cloud Hard Assets is selling the 2021 Silver Maples (99 or fewer coins) compared to the same leading dealers:
New 2021 Silver Maples
- Money Metals = $28.91 (+$4.99)
- SD Bullion = $29.11 (+$5.19)
- JM Bullion = $30.01 (+$6.09)
- APMEX Inc.= $30.38 (+$6.40)
- Cloud Hard Assets = $28.17 (+$4.25)
I tried to look up Miles Franklin for their prices, as it seems they have brought in a group of folks to sponsor them, but when you go to their website, all you get is CALL FOR PRICES. So, if anyone here buys from Miles Franklin, maybe you can let us know what they are charging for Silver Eagles & Maples in the comment section. It would be interesting to see.
Lastly, I sponsor Cloud Hard Assets on my website, because I REFUSED many offers in the past for several years and went with Tom Cloud due to his honesty, and some of the lowest prices in the market. I also store some of my metal at the IDS Texas Depository (smart to diversify) and only pay 30 BASIS POINTS a year for FULLY ALLOCATED STORAGE. I challenge anyone to see if they can match that price.
While I only like to bring up Cloud Hard Assets once in a while because I’d rather focus on the ANALYSIS & REPORTING, when I see how much lower the premiums are, I feel it’s only fair to share that will subscribers and members.
I really like Tom and Dan at Cloud Hard Assets. They are very easy and laid back to talk to and will answer any questions. Also, Tom Cloud puts all his client’s funds in an escrow account until the metal is shipped. This is extra security protection not offered by many other precious metals dealers.
If you want to contact Cloud Hard Assets, you can click here: CLOUD HARD ASSETS. Call at (800) 247-2812.
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It never ceases to amaze me what people will pay for American Silver Eagles. Right now, in quantities as few as ONE coin, and free shipping for order total over $199, one can buy Britannias for $3.79 over spot.
I’d like to own ASE’s because they are so liquid [desired], but not at those prices.
To tell you the truth, DC, I don’t mind the high premiums so much. Why?
Firstly, in my mind the spot + premium represents the TRUE value + the honest cost of doing business. Secondly, I’m a “true believer” and I have “faith” in silver (if you know what I mean). Lastly, ‘Cause silver’s goin’ to da moon, baby! And so are the FUTURE PREMIUMS!
Seriously, here is my take on the situation we are in today:
In the future, premiums will be directly proportional to the spot price or possibly exponentially proportional to the PAST premiums due to the DIFFICULTY IN OBTAINING PHYSICAL. If silver hits $100 does anyone believe that the premiums will still be $8 per oz? Heck no. The premiums will be $25 or $30 over spot. maybe more. That’s why I don’t complain too much about $10 premiums. I’d rather simply have the stuff available. Have you ever bought a 1/10 oz Gold Eagle? 30% – 40% premium because it’s a fractional coin. Ten 1/10 oz Eagles will cost you $2800, roughly. But one buys fractional coins for divisibility and diversification, so that’s to be expected.
Sure, no one likes the high premiums. But you might want to buy now while you still can. With all the supply chain, lockdown and political shenanigans going on out there, are you going to wait until “premiums go back to normal”? If you can, cough up a few extra bucks per ounce and have the stuff in hand. That is, if you are a “true believer”. If you can’t afford it, buy 90% dimes and quarters. Premiums are still about $3-4 per ounce equivalent over spot in many cases.
Black Swans are coming!
Does anyone know if that 30 basis points/annum at IDS through Cloud Hard Assets requires a minimum storage amount?
jmtaglienti,
From what I understand there is no minimum storage amount, but there may be a minimum storage fee. You may want to chat with Dan or Tom. They are easy going… no hard sales there and they will take the time to answer anyone’s questions.
steve
Thanks Steve
According to a video Tom made, he isn’t there as much anymore.
But I don’t know how they can operate without him, so time to recruit another trainee.
“So far this year, the U.S. Mint Silver Eagle sales are 21.2 million compared to 18.1 million in the same period last year.”
And you made charts showing investment demand was strong in 2020!
Maybe JPM is buying them to melt into bars LOL!
JM Bullion is selling Eagles at spot! I don’t know how they are doing it!
I don’t think so. I’ve never seen that anywhere that is legitimate.
Maybe they had a listing error; it would have been corrected rapidly.
August 15th, 1971,
I have seen SPECIALS on Official Coin sales, but never at Spot. The U.S. Mint charges $2.00 for each coin above spot and then the wholesalers charge a percentage. Right now, JM Bullion is selling BRAND NEW 2021 Silver Eagles at $33.48 (1-99 coins), $10.14 above SPOT.
As shown above, Cloud Hard Assets is selling the Brand New 2021 Silver Eagles at $7.85 over Spot.
steve
This post was supposed to be “for your eyes only”.
Steve and DC:
It was a joke! I was tactfully trying to tell the author that he made a typo up above in the article. He lists JM Bullion SEs at $24.06.
Just trying to be subtle. Give me some credit. I might be outlandish, but I’m not that foolish.😉
August 15, 1971,
LOLOL… I needed that laugh. Gosh, I didn’t realize you were making a FUNNY at my TYPO. I see it now and changed it.
Thanks a TRILLION (money printing). 🙂 🙂
Steve
Hey, no prob, Steve 😀 I remain your humble pupil!