With the continued uncertainty in the markets and financial system, the U.S. Mint Silver Eagle sales for the last quarter of 2020 are forecasted to triple compared to the same period last year. Already, sales of Silver Eagles so far in October have surpassed the total during the entire fourth quarter of 2019… three months!
The U.S. Mint just updated its sale figures on Monday to show the total for October was 2,460,000 compared to only 1,110,500 during October 2019. And, we still have another week and a half remaining in the month. Total Silver Eagle sales for Oct-Dec 2019 were 1,573,000.
I believe Silver Eagle sales for October may reach 3 million, or double the same month last year. However, assuming another 3 million being sold in November and December would put the total for the last quarter at approximately 6 million Silver Eagles. December isn’t such a hot month for Silver Eagle sales as the U.S. Mint curtails production to set up for the new 2021 coins. But, if we see some crazy things happening in the market if the Presidential Election turns out to be a mess, we could see significant sales in December.
So, my forecast would be approximately 3 million Silver Eagles sold during October, 2 million in November, and 1 million in December. Total sales for the quarter could be higher, especially if there is increased uncertainty and volatility in the markets.
The situation in the Silver Market is changing rapidly. Regular investors have moved into silver more than ever this year. If the world experiences another massive amount of silver investment demand next year as we have had this year, the silver price could reach its All-Time High of $50.
DISCLAIMER: SRSrocco Report provides intelligent, well-researched information to those with interest in the economy and asset values. Neither SRSrocco Report nor any of its owners, officers, directors, employees, subsidiaries, affiliates, licensors, service and content providers, producers or agents provide financial advisement services. Neither do we work miracles. We provide our content and opinions to readers only so that they may make informed decisions on all types of assets. Under no circumstances should you interpret opinions which SRSrocco Report or Steve St. Angelo offers on this or any other website as financial advice.
Check back for new articles and updates at the SRSrocco Report. You can also follow us on Twitter and Youtube below:
Copper is not correcting and Palladium has been in bull market for the last several years. For now I have not seen the advantages of having silver. It may change in the future. The ultimate proof would be silver going up and broder markets going down.
spectator,
GOT IT… we appreciate your analysis. Maybe you are correct about Silver. Maybe we should move further in the DOLLAR, BONDS, and STOCKS… and maybe a bit more REAL ESTATE. Those assets are severely UNDERVALUED… CORRECT?????
LOL… Sarcasm…
steve
spectator,
You have it backwards.
The ultimate proof will be when bubble stocks burst, the broader markets are going down, and hard assets including silver going up.
By that realization time silver coins and .999 or .9999 anything will be very hard to obtain…unless one has a preferred customer status with a well connected dealer…who has preferred status with wholesalers.
People think about the endgame and I wrote about the past performance of some metals.
We are moving towards that “end game” scenario(s).
I’m not saying it happens in a certain time period. I don’t know.
Advantages of owning US silver coins-
1. They’re an asset held outside the corrupt Wall St./Banker system.
2. Silver in commodity form is arguably the most undervalued of all assets.
3. Bankers actively work to suppress silver prices resulting in a discount for buyers.
4. Zero counter party risk.
5. Little public investment interest due to a oomplete financial media blackout.
6. USGS predicted peak silver production passed in 2017.
7. US silver coins are not dependent on a functioning grid or internet.
8. Refined purity assured by the US mint.
9. No irs sale reporting required.
10. US silver coins pass through probate directly to your heirs.
“LOL… the ENERGY CLIFF is causing the MONEY PRINTING. While we haven’t seen a collapse in oil production, the global oil industry is being GUTTED as we speak from within.
Things are going to get very interesting…” Steve St Angelo
The Energy Cliff and what it means long term for gold and silver production along with money printing almost effectively assures higher metal prices until we all drop. Did I get that right, Steve?
Bought a bunch of 2 oz Canadian Silver Coins back in February……kept ’em in the box and tucked ’em away to use as Christmas gifts…….something I do every year, the gift of SILVER; Feel better about it this year than any other…….lately I’ve been considering whether or not I should come up with some other stocking stuffers and keep some of those now considerably more valuable beauties….. but bet I stick with the plan.
I do that with my kids and one very close friend [but I’m not very good about waiting for Christmas, lol].
Otherwise I don’t talk about anything I own.
We are moving towards that “end game” scenario(s).
I’m not saying it happens in a certain time period. I don’t know.