{"id":24305,"date":"2020-10-27T10:13:46","date_gmt":"2020-10-27T16:13:46","guid":{"rendered":"https:\/\/srsroccoreport.com\/?p=24305"},"modified":"2021-09-17T11:19:13","modified_gmt":"2021-09-17T21:19:13","slug":"u-s-mint-sells-nearly-another-million-silver-eagles-since-last-week","status":"publish","type":"post","link":"https:\/\/srsroccoreport.com\/public\/u-s-mint-sells-nearly-another-million-silver-eagles-since-last-week\/","title":{"rendered":"U.S. Mint Sells Nearly Another Million Silver Eagles Since Last Week"},"content":{"rendered":"

It looks like demand for Silver Eagles hasn’t subsided as the U.S. Mint sold nearly another million since last week.\u00a0 Total Silver Eagle sales for October have now surpassed September, and there are still three more days remaining in the month.\u00a0 Not only are October Silver Eagle sales higher than the previous month, but they are also more than double the entire sales for the last three quarters of 2019 (Oct-Dec).<\/p>\n

When I did my last update on U.S. Silver Eagle sales on October 21st, the U.S. Mint reported 2,460,000 sales for the month.\u00a0 Today, the U.S. Mint provided new figures for Silver Eagles at 3,397,000 or 937,000 more coins sold in less than a week.<\/strong><\/span><\/p>\n

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Silver Eagle sales in October are 438,500 higher than last month’s total of 2,958,500.\u00a0 Furthermore, October sales are now more than double the entire sales from Oct-Dec 2019.<\/p>\n

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I mentioned in my previous update that the total Silver Eagle sales for Oct-Dec 2020 would likely reach 6 million.\u00a0 With this newest U.S. Mint update, it seems as if this will be an easy target to reach.\u00a0 If sales in November are 3 million with 1.5 million in December, we are looking at 7-8 million Silver Eagles for the last quarter with total sales at 28-29 million, double last year’s total of 14.8 million.<\/strong><\/span><\/p>\n

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Moreover, sales of Gold Eagles also increased in October to 61,500 oz versus 22,000 oz in September.\u00a0 The overwhelming majority of the total Gold Eagle sales in October are from the 1 oz coins accounted for 54,500 oz.<\/p>\n

And, if we look at the U.S. Mint sales of Gold Buffalos, they also surged in 2020.\u00a0 According to the U.S. Mint, Gold Buffalo sales increased from 59,500 oz Jan-Oct 2019 to 207,500 oz Jan-Oct 2020<\/strong><\/span>.\u00a0 Thus, here are the total Official Gold Coins sold by the U.S. Mint so far this year compared to full-year 2019:<\/p>\n

Official Gold Coins Full-Year 2019<\/strong><\/p>\n

Total Gold Eagles = 152,000 oz<\/p>\n

Total Gold Buffalos = 61,500 0z<\/p>\n

Grand Total = 213,500 oz<\/p>\n

Official Gold Coins Jan-Oct 2020<\/strong><\/p>\n

Total Gold Eagles = 699,000 oz<\/p>\n

Total Gold Buffalos = 207,500 0z<\/p>\n

Grand Total = 906,500 oz<\/p>\n

The total official U.S. Gold coins sold this year (906,500 oz) have more than quadrupled last year’s 213,500 oz sales.\u00a0<\/strong><\/span> These figures do not include an additional commemorative of specialized proof or etc. coins.<\/p>\n

I believe we are just in the first stage of the coming MASSIVE DEMAND for Silver and Gold bullion products.\u00a0 It will be interesting to see the U.S. Mint Silver and Gold Eagle sales next year when the Federal Reserve and U.S. Government continue to inject trillions of dollars to prop up the economy.<\/p>\n