U.S. Mint Shows It Sold 27 Million Silver Eagles in July

According to the data put out by the U.S. Mint, they have sold 27.5 million oz worth of Silver Eagles so far in the month of July.  Furthermore, they show a total of 52.6 million for the year.  I highly doubt they sold that many silver eagles, as it looks like they made a mistake with a decimal point.

SIlver Eagles 71613

It looks like they may have only sold 2,757,500 silver eagles in July, not 27.5 million.  However, if they did make a mistake in a decimal point, 2.75 million oz of silver eagles is still a lot for half of the month.

If we find out that the U.S. Mint has sold 2.75 million silver eagles so far this month, they are on tract to sell over 5 million for the month of July.

We have to wait and see what is going on there at the U.S. Mint.  I will provide an update when they finally get their figures straight.

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5 Comments on "U.S. Mint Shows It Sold 27 Million Silver Eagles in July"

  1. This must be a typo. If the Mint had trouble producing 7.5M silver eagles in January, I don’t see how it’s possible for them to have manufactured/sold 27M eagles in July.

    • Farmer… I agree. However, its funny that they have not changed the mistake yet. Of course this is a government run institution and they only do things during normal business hours, but if I was in charge of the Mint, I would have the person FIX IT PRONTO.

      My gut tells me that they added another ZERO. Which means they sold 2.75 million silver eagles for the first half of July. If this is true and the trend continues, we may see over 5 million for the month. That is actually a very impressive figure.

      steve

  2. A youtube channel from Drutter goes into the US Mint figures, and he’s shown that the Mint has been holding over sales from previous months, and carrying them onto future months.

    Although I’d agree that its most likely a decimal error, having carried over so many millions of ounces to skew the sales figures to appear lower, maybe it’s catching up with them?

    http://www.youtube.com/watch?v=pyRF6HbmpRY

  3. at shanghai gold exchange, silver(T+D) longs have been paid 0.02% of fees of delayed delivery for about one week now.

    usually, no. of delivery notices posted by silver(T+D) shorts is bigger than what the longs ask for, so the shorts get paid 0.02% of fees of delayed delivery.

    so for the past week, the shorts either have no silver to deliver or refuse to deliver at current price.

    gold(T+D) longs almost always get paid 0.02% because the longs always ask for more than the shorts can deliver. so longs in gold(T+D) have a nice positive carry trade.

  4. http://www.safehaven.com/article/30347/velocity-of-money-and-the-coming-crack-up-boom
    BEST pic I’ve seen many months or more that replaces the billions of words of useless, no value blather spewed daily with ONE clear picture:

    http://static.safehaven.com/authors/long/30347_d.png

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