U.S. Mint Silver Eagle Sales Continue To Be Strong In March While The SLV ETF Sheds More Silver

In March, sales of Silver Eagles continue to be quite strong as investors pay hefty premiums for the highly sought-after U.S. official silver coin.  Also, the U.S. Mint has sold 70 times more Silver Eagles than Gold Eagles in the first eight days of March.  This is nearly three times the ratio of Silver to Gold Eagles sold last month in February.

According to the U.S. Mint’s most recent update, Silver Eagle sales totaled 1,572,000 as of March 8th, while Gold Eagle sales were 22,500 oz.  The chart below shows the total for Jan-Mar over the past five years.  However, the 2021 figures are just for the first eight days of the month.  So we could easily see 11+ million for Jan-Mar 2021.

If Silver Eagle sales reach 11 million for Jan-Mar 2021, that will surpass last year’s total for the same period on record demand stemming from the pandemic shutdowns.

Including the sales from this year, the U.S. Mint has sold a stunning 574.5 million Silver Eagles since 1986.  That is more than a half-billion oz.  With total Global Silver ETFs & ETPs equalling 1.2 billion oz, not including COMEX inventories, Silver Eagle sales represent nearly 50% of that total.  While investors have paid higher premiums for acquiring Silver Eagles, they hold onto a REAL PHYSICAL ASSET while those who invest in a Silver ETF, such as the SLV ETF, just own paper silver.

Interestingly, the iShares SLV ETF has liquidated another 3+ million oz from its inventories… courtesy of JP Morgan. 🙂

The iShares SLV ETF current silver inventories of 593.3 Moz is down from its record 677 Moz just a little more than a month ago.

The massive Rise & Fall of JP Morgan’s SLV ETF inventories of 86 Moz since Feb 2nd, is more than the global monthly silver mine supply of 66 Moz.  Indeed, JP Morgan and its Authorized Participants played a very SAVVY “Accounting Gimmick” to squelch the Silver ShortSqueeze.

And, if we look at the Sprott PSLV ETF silver inventories… they have increased by 26 Moz while the SLV ETF declined by 86 Moz.  

Regardless… with the Fed and central bank playbook of issuing more Monopoly Money, Debt, and Leverage in the system, the fundamentals of precious metals, especially silver, only continue to get stronger every day.  Unfortunately, the 99% of investors haven’t quite figured that out yet as they are still RUBBING their LUCKY HIGH-TECH RABBIT FOOT, hoping for higher stock prices.


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6 Comments on "U.S. Mint Silver Eagle Sales Continue To Be Strong In March While The SLV ETF Sheds More Silver"

  1. Quo Vadimus? | March 8, 2021 at 6:47 pm |

    As I predicted in early January:
    1,000,000 per week in 2021! 🍾😄

  2. I just bought some Silver Maples. Premiums are more reasonable… and they are available.

    • DisappearingCulture | March 9, 2021 at 8:56 am |

      Kruggerands, Philharmonics, Maples, and Kangaroos are all available [a particular dealer may be out of one or two] at much cheaper prices than eagles.
      The buy-back price on eagles might be $1.50 higher than the lowest price of these, and cost you $5 more right now.

  3. DisappearingCulture | March 9, 2021 at 9:51 am |

    Of knowledgeable AND honest people who will communicate, Tom Cloud probably has the best info on shortages in the retail and wholesale markets, and the trend on premiums for the next month or so.

    He may not know what other countries are importing, or if industry is having trouble getting supplied. But he knows the status of supply to the retail markets.

  4. This is a commenter, z tranche on ZH. Do you have a view on this Steve?

    Someone else was commenting on this a couple days ago:

    “under Basel III (on June 28, 2021) all unallocated gold in the banking system will be subject to mark-to-market rules, placing regulatory bank capital in serious peril on gold declines…bank capital, on the other hand, will expand with rising gold prices..the BIS has proven it can control the direction of gold..what direction do you think gold will travel after June 28 and for a long time to come? Unallocated gold is currently being expunged from the banking system..the BIS is currently keeping gold under pressure until this process can be completed..the first daily outsized rise in gold will signal all is clear and the long term up move has begun, IMO.

    • DisappearingCulture | March 10, 2021 at 2:16 pm |

      I’m not qualified to comment on the comments in your post.

      Fortunately for the world as a whole, the BIS and other Western banking cartels have an ever-decreasing control of what Russia, China, and other non-western-banking allies choose to do monetarily.

Comments are closed.