Silver Eagle Sales Surge In September As U.S. Mint Resumes Supply

The sales of Silver Eagles surged in September as the U.S. Mint removed their temporary supply restriction.  As the silver price continued to trend to new lows at the beginning of the month, several large purchases of Silver Eagles by the Authorized Dealers wiped out the inventory at the U.S. Mint.  The U.S. Mint had cut back on its monthly supply due to the falling demand.

However, now that the U.S. Mint has resumed sales of Silver Eagles, they have reached over 1.9 million, up 28% compared to August, and there are still ten days remaining in the month.  Silver Eagle sales so far in September are the highest all year, except for the usual spike in January when the Authorized Dealers are stocking up on the newly released coin.

As we can see in the chart below, Silver Eagle sales have jumped in August and September due to the lower silver spot price:

According to the figures released by the U.S. Mint, Silver Eagle sales fell to a low of only 380,000 in May.  However, sales started to pick up in July and have continued to increase each month.  Interestingly, Silver Eagle sales in the two months of August and September are about the same for the previous five months.

Total sales of Silver Eagles to date in 2018 are 11.2 million.  The total cost to purchase these 11.2 million Silver Eagles at a $20, would equal $224 million.  Now, I just used a round $20 figure; the actual cost is likely a bit less.  However, I wanted to compare the Silver Eagle market to the increase in U.S. public debt since August 1st.

In just the past seven weeks, the U.S. Debt has increased by a stunning $235 billion:

On August 1st, the U.S. debt was $21.26 trillion, and as of yesterday, it rose to nearly $21.5 trillion.  So, how many Silver Eagles could be purchased with $235 billion???  How about 11.7 billion Silver Eagles… LOL.  That’s a lot of Silver Eagles.

The U.S. Mint has sold a total of 515 million Silver Eagles since it started the program in 1986.  So, going by the 515 million oz of Silver Eagles sold since 1986, how many years would it take the U.S. Mint to sell 11.7 billion of the official silver coin at the same rate?  How about 750 years.

Americans have no idea how completely insane the state of the financial system.  It is built on an extreme level of leverage and debt.  While leverage and debt can go up longer than most realize, it still has an EXPIRATION DATE.

I believe when the markets finally roll over, and we experience another crash similar to 2008-2009, we are likely going to see demand for physical precious metals like we have never seen before.

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25 Comments on "Silver Eagle Sales Surge In September As U.S. Mint Resumes Supply"

  1. Love ASE. Goes without saying I like getting them here at 2018 prices…..yet it wouldn’t hurt my feelings to be getting ’em at 2011 prices

  2. To any Reader not already a Stacker,

    If you have not been buying silver at these bargain basement prices, the time is NOW. This window of opportunity will not be open long, months not years, and if you wait too long you will be closed out. Even if you have only $500.00 (sell crypto’s, stocks, bonds, an extra cars, or whatever), find an honest local dealer and buy 10 Silver eagles, $10.00 face value each of half dollars, quarters and dimes of Constitutional (junk) silver to start. If you can afford it, spend $5,000 and buy ten times each. If you don’t know or have a local bullion dealer, I buy from SDBullion.com (no I am not a shill and don’t get a commission). If you are not a stacker and don’t buy silver you will deeply regret it.

    Also, while I am at it, if you are not a patron of this site, you should be. This is the only PM site that tells it like it is, understands the relationship to energy and is not trying to sell you anything.

    Lastly, if you don’t hold it, you don’t own it.

    Buy for cash and stash.

    SteveW

    • SteveW – I haven’t seen this point of view being discussed online. Besides Precious Metals such as recent minted silver coins (PM), there also exists the “Not So Precious” Metals (NSP) metals such as copper and nickel and of course the recent bi-metals (BM). There also exists the Constitutional Coins (CC) (Pre 1964 junk) coins. It’s difficult for me to evaluate the role that the PM coins will play. I think that at first, the Pre 64 Constitutional Coins (CC) will maintain their previous correlation at the beginning. Eventually, CC may be realized as quite rare.

      The Nickel has always been 5% of the (CC) silver dollar. Lately it’s lost a large portion of it’s value but it will likely revert to the mean. At CC $20 the nickel should have 5% of the value = CC $1.00. It could appreciate faster than PM Silver shortly after the Silver uptrend value begins.

      Of course, the copper penny has 20% the value of a nickel. So at CC $20 silver, the penny should be 20% of the $1.00 nickle = CC $0.20. Likely good enough for change when purchasing a cigarette valued at CC $2 dollars a pack.

      Who knows what the bimetal (BM) dime, quarter, and whatever other loose change is available will bring. Regardless of the low NSP content, the bimetals, will also play a part when bartering. It’s difficult to say how the mint and the useless banks will manage the production distribution and sale of BM & NSP coins. Nonetheless, small denomination, BM change, will become rare and valuable quickly enough to play a part when bartering. The lack of consideration regards to loose change has been a HUGE discrepancy. It’s time for a discussion in regards to relationships of CC and NSP coins.

      IMHO, It’s a crap shoot but nonetheless deserves some consideration, When shopping with dollars, always ask for 2 nickels instead of a dime in the change. Don’t ever use a nickle when making a purchase! They belong in the sock drawer (SD). Time will tell.

      • DisappearingCulture | September 20, 2018 at 1:05 pm |

        NickM,

        Pennies and nickels are worth their face value, or slightly more if old. That’s all. A few have numismatic value. Clad dimes, quarters,half dollars [without 40% silver] are worth face value. That’s it.

        • “Pennies and nickels are worth their face value” – I can’t argue with that when you are comparing coins to US Dollars. When compared to Constitutional dollars, such as the pre 1964 silver coins, the game changes. Do the math. It’s my belief that the USD as we know it will disappear. At that point, when the Silver Dollar has the Value of what was once $20, the coins will have comparative value to the Constitutional Silver dollar … not the US Dollar. Just like it did pre 1964.

          • DisappearingCulture | September 20, 2018 at 3:48 pm |

            I don’t think so. They will be worth their face value, or the value of the metal in them if that exceeds face value, unless they have numismatic value. I’ve been collecting coins since 1960. You are the first person I have ever heard to advance that theory.

          • There has been a lot of melting and refining of 90% coins since 1965. The lesson of 1979 was that refiners were backed up on capacity and could/would not pay dealers in a timely manner for 90% or 92.5% silver, but did for .999. I have been recently buying 90% dimes for one-cent each over spot silver content (when they were about a buck-ten each), and going up on the last buy. Local premium on one-ounce rounds is about $1.25 each and a buck-per-oz on kilo or 100oz bars. No sales tax inside Oregon. Occasional supply shortage is beginning on many silver products, and I can’t buy the 3% over spot fractional oz gold coins (handled-worn-damaged) that I used to be able to find. I don’t blame smart people holding tight to their pm’s. Plenty of full-price-new ASE/AGE/Maple Leaf.

            Talked to a nice girl on the streets of Portlandia soliciting for “Save The Children”. She was not very happy to hear about how the excess population in poor countries is supported by high EROI oil making cheap food in North America. She said that they need clean water (I nodded), and they were going to educate them! I responded that education programs won’t fix thirsty and hungry and is much more expensive (and confusing, if the teachers are femo-marxists) than clean water with Western technology. She asked me if I had any children, to which I replied “Not Yet!”.

    • SD has a very good reputation. I have purchased from Provident Metals in Texas and they have been great. All of them currently have a 90% off sale on silver.

  3. Guess us common folks know a deal when we see one. Silver sure feels cheap. 90% US pre 1965 coins seem to be a good deal too. It doesn’t hurt to have a few Mercury dimes stashed for some small-time bartering later should things crash, unless you feel good about going out into the hood with 1 oz gold.

    • +1 on not showing gold unless it’s a land deal. A roll of dimes can buy plenty of groceries. Even now, farmer’s market vendors have a vague idea that silver coins are good money. Mexicans at the the burretto stand understand “plata” well enough to trade a big meaty take out for two silver quarters (12:1 90% =$6.00) and a silver dime tip.

  4. I have been buying my Silver Eagles( and gold coins) from California Numismatic Investments also know as Golddealer.com for the past 17 years. They are of the highest integrity with very competitive prices(don’t believe me, compare their prices with other bullion companies). IMHO it is of the utmost importance to deal with a highly reputable firm. No, I am not being paid just want to pass on good info. In addition they explain when a 1099 form is generated or not generated, this info I have seen no where else.

  5. Putting increase in percentage terms makes it seem more impressive then it really is, I’m tinkin, as in reality is only up a few hundred thou in a month. this could be accounted for by the limited number of stackers always willing to gamble more when prices drop so low.

    If conjecture correct, this limitation in their numbers should cause sales to soon level off or at best increase very slowly.

    See D Morgan and others who had been calling for 2018 have now changed it to 2022. Uh-huh. These people have no shame. How about getting up in the am and actually producing something real?

    The debt bomb is real but nothing else is, so a limited financial crash that does not destroy the comex is utterly meaningless. Pm will go up for a short while as traders flow in but then pm prices will get smashed down again, or worse made untradeable.

    “I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something.
    What you know you can’t explain but you feel it.
    You’ve felt it your entire life, that there is something wrong with the world
    You don’t know what it is but it’s there, like a splinter in your mind.

  6. Who is strong enough to take on the manipulation?

  7. DisappearingCulture | September 20, 2018 at 5:51 am |

    I like the comments here so far!
    People, physical G & S in your personal possession, well hidden,is at least a great way to save money. Inflation is much worse than official government figures, and CPI or core inflation doesn’t track everything going up. No one will pay enough interest on savings or bonds to keep up with inflation. G & S at today’s prices are far more likely to.
    Buy most stocks or real estate or cryptos thinking they will go up in value at your own risk. G & S will spike up in the future, but as noted above, anything less than a kill shot on COMEX and LBMA and the sociopaths/psychopaths will be back to controlling the fiat prices.

  8. Could silver be the catalyst for rocketing precious metal prices? Maybe the US has suppressed gold too hard, too fast, which inadvertently has pushed poor despised little brother silver (who usually rides the same gold pricing direction) to unsustainable lows? What if the mints can’t continually order up needed sufficient quantities with ease, to satisfy increased demand? First news that the mint couldn’t supply demand would easily push the silver price up a few bucks overnight. Silver goes to $17, that’s 20%, enough to make even the paper boys dive in long. Silver pricing becomes public news. There is no physical silver near the normal commerce of the common people. Silver’s low availability could cause dramatic price escalation…then gold steps in…

  9. Michael Kohlhaas | September 20, 2018 at 6:26 am |

    Silver Eagle sales mean diddly shit!!!

    • So you called Andy Hoffman a weasel for dumping PM’s and joining the Crypto bandwagon. So where is your money going into, Stocks, Bonds or Crypto?

    • 100-year support line for silver stands at $10. Silver has to either touch this line or extend its sideway move for another 2-3 years. After that the real bull market begins

  10. Congrats on breaking the 200 patreon mark Steve, and thank you as always for your insight and hard work

  11. Steve.
    I have been trading oil and gold and silver for some time. This is the first time I have seen such a large divergence in the price of oil and PMs.
    Why do you think this is?

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