U.S. MINT SILVER EAGLES: Record Demand On Manipulated Low Paper Price

Investors snatched up a record number of Silver Eagles as the paper price was manipulated to new lows today.  This is a very strange market phenomenon, as several “Official” analysts forecasted a drop or sell-off of physical metal if the price continued to decline.

In just the past two days, investors purchased more than 1.4 million Silver Eagles.  This pushed the total sales for October to 5,790.000, surpassing the record set in March at 5,354,000.

Total Silver Eagle Sales JAN-OCT 2014

Furthermore, total Silver Eagle sales for 2014 are now over 38 million.  In 2013, the record stood at 42.7 million.  If we have another strong sales month in November of 4 million, all we would need is at least 800,000 Silver Eagles sold in December to surpass the record set last year.

Even though a small portion of the public is investing in Silver Eagles.. it’s still amazing to see this sort of HIGH DEMAND, while most fickle investors would be running for the hills.  Again, several analysts stated that silver investment demand would start to ease if the price of silver continued to fall.

Here we can see that the OPPOSITE IS THE CASE. … silly analysts.

Lastly, if Silver Eagles are flying out of the U.S. Mint at the bottom basement prices, I can guarantee the same thing is taking place with Silver Maples at the Royal Canadian Mint.

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29 Comments on "U.S. MINT SILVER EAGLES: Record Demand On Manipulated Low Paper Price"

  1. Thought you would be interested, spoke to a bullion dealer in Toronto today, tells me there is such a strong demand for Maples that they are back ordered for at least 2 weeks. And we keep getting told price is a function of supply and demand! Gotta love those analysts, though.

  2. Physical movements are just a derivative of the paper prices. As ruble, yen or euro are a derivative of us dollar, the king of hell…

  3. Spartacus Rex | October 31, 2014 at 9:29 pm |
  4. There is so much argument among analysts about whether manipulation of gold and silver really exists. People such as Doug Casey say no. Many others, such as Paul Craig Roberts say yes. For insight into the possible truth, look carefully at palladium. It refuses to crash. Consider that it is not apparently subject to futures shorting on the Comex the way gold and silver seem to be. Palladium is not of concern to the so-called banking cartel because it has industrial uses in catalytic converters and therefore evinces demand pricing. Silver, although it does have industrial uses, is perceived as money. Gold of course is clearly money. Is it a coincidence that with the Swiss referendum on gold coming up, and with the Fed announcing a reduction in QE, that the stock market booms while gold and silver, but not palladium, are apparently smashed? Is the PPT gobbling up stocks while torpedoing non-fiat money to discourage as many people as possible from acquiring it? Perhaps this explains why gold and silver exhibit inverse pricing to demand. If so, the price fixing game will continue ad nauseum until the paper manipulation game runs it course due to natural forces beyond the control of the “cartel.”

    • How to hell can analysts argue this market is not manipulated.It is so obvious that even the most braindead person in the world should get by now. But also the stock market behave so strange that you don’t need to be intelligent to see that every thing is rigged. But the majority of the folks around me the don’t get nothing.It is amazing how stupid and brainwashed people have become from the media.

    • If no manipulation in palladium. It should above 900. Look at the price of Sept !!!

    • “People such as Doug Casey say no [to manipulation]”.

      Actually Doug Casey believes the U.S. government isn’t involved in manipulation.

      The manipulation is very real and very provable.

      how much the federal government is involved can be questioned, but it is.

  5. Open Intrest is rising by 3164 contracts wow !

    Harvey Orgen write today :

    The fun begins with the silver comex results. The total OI rises to a new multi year record of 179,608 a rise of 3,164 contracts from yesterday with silver down a whopping 83 cents.In ounces, this represents a total of 898 million oz or 128% of annual global supply. The next non active silver contract month is November and here the OI fell by 355 contracts down to 164. The big December active contract month saw it’s OI surprisingly rise by 4588 contracts up to 123,353. In ounces this is represented by 616 million oz or 88.1% of annual global production (production = 700 million oz – China). The estimated volume today was humongous at 80,317. The confirmed volume yesterday was also huge at 93,369. We also had 44 notices filed on first day notice for 220,000 oz.

  6. If there’s any feedback from dealers on the ratio of ounces being dis-invested of versus ounces purchased, we’d be interested in seeing this. Maybe it’s similar to the gold to silver ratio—1 ounce unloaded versus 74 bought. I begin to wonder how long this can keep up, as it suggests the sprinter who wanted to see how far he could run while holding his breath. Shorts are being drained from both the demand side and supply, thanks to First Majestic. When the demand finally overwhelms supply, trend investors will pile on, giving the Silver Users association and Jeff Christian more grief.

  7. Interesting. The BIS dumps 50 tons of paper gold on the markets on Friday in the space of a few minutes triggering another fifty tons of COMEX stops, JPM removes 41% of its gold in the space of a week, siver eagle sales soar and my favourite dealer is out of gold sovereigns and half sovereigns (except 2014), gold eagles and maples.

    It is begining to look like PM prices are falling because the dealers can’t be bothered to sell metal because it is so cheap. Of course the increasinginly obvious inverse price mechanism, the higher the demand the lower the price, has been taken by some extreme conspiracy nuts to imply manipulation. I think its just the novel Post Normal Economics expressing itself a little more strongly, either that or price rigging is real and becoming more overtly international.

    • OK my guess is the BIS action was designed to prop up the stock market post QE but why the BIS? Maybe the FED and JPM cannot do it anymore? Maybe the metal that is needed to continue the price supression is actually running out now? If so then silver has to be a real headache. In view of the lack of reserves to allow some backing by physical metal (of contracts that stand for delivery), silver can only really be manipulated by weakening investor sentiment. The industrial demand evolves but is mostly insensitive to sentiment whereas investment demand is not. Investors who see a falling market usually think that “now” is not a good time to buy, so what are we seeing? Post normal investment demand? In old fashioned economics terms this is called “wising up”.

  8. Ignore the lies and figures. Too much analysis and much of it meaningless. Paper and physical will decouple soon. Thats reality. The vaults contain nothing, as the Germans have found out.
    Consider yourself as a small country, the only real wealth is in physical possession of tangible and tradable goods, also having no debt.
    Stack and buy materials that can be traded. When their paper empires collapse it is people who do this that will prosper.
    So they hammer the prices, take advantage whilst you can and buy a shovel. Or have a Zero Hedge boating accident.

  9. I think all its going to take is one big payer to stand for delivery. Comex only has enough silver to cover 2% of silver contracts. I hope they crash soon and we get a Comex default. Guess who will be laughing then. Bet it wont be the banks. They should have left physical silver alone and never entered into this ETF garbage.

    • jim wille has said several times from his contact in comex pit that gold deliveries are sometimes “forbidden” it dépends who you are. They balckmail people in order to settle in cash otherwise they could be ban from comex for other industrials metals or else.

      • There would be severe consequences to any trading entity that insisted on physical delivery of a size that would “crash the system”.

        That’s why what will crash the system will be profound shortages rather than a delivery demand, or a delivery demand by a foreign government [perhaps trading through proxies], that is beyond the wrath of the fed or other punitive organizations [or government itself].

  10. Steve,don’t these eagle sales numbers reflect wholesale demand by the 11 registered whole sale dealers? If so , then retail demand may lag these figures by a few weeks. Also, I believe a lot of the retail demand is coming from wealthy foreign individuals who would like to own some of their silver in the world’s reserve currency.

    My point is that I think global demand is huge, but I just don’t see a lot of demand from new domestic investors.

    • Pontiac,

      It’s hard to tell who’s buying what. However, I spoke the Vice-president of sales at AMPEX and he told me that they now sell to 55 countries. So, all these Silver Eagle sales are not going to just Americans. Furthermore, he said that most of their sales were to smaller buyers, not hedge funds and etc.

      I focus on the OFFICIAL COIN SALES because it does give us some sort of idea of what is happening in the overall markets. If Silver Eagle sales are high, more than likely, all the other official coins such as Maples, Philharmonics and etc are experiencing the same high demand.

      Yes, it could be true that the huge buying coming from the Authorized Dealers may take time to make its way into the market, but AMPEX also stated that when demand is more than their supply, they buy SILVER EAGLES from some of the other Authorized Dealers.

      And we must remember, all these large INTERNET PRECIOUS METALS companies and all the MOM and POP retail outlets around the country have to buy from wholesalers who get their SILVER EAGLES from these Authorized Dealers.


  11. Steve,

    Demand is off the charts of ASE no doubt. I just can’t understand why people are buying ASEs. Read the back of the coin……”1 oz fine silver”…..not 1 oz 999 silver.

    Probably, nothing to worry about

    • Just M3e,

      Yes, the back of the Silver Eagle coin only shows “1 Fine ounce”, however the specs are 99.9% pure or what is known as three 999’s. Silver Maples are 99.99% pure or four 9999’s. I don’t think it’s much of an issue.

      And.. I would rather own three 999’s Silver Eagles than just about any other paper or physical asset out there… except for maybe Silver Maples.


  12. It is encouraging to see October sales spike as the cartel price attacks continue. However, even if we ended up @50million SAEs for 2014; thats not even 1/6 of a single ounce per capita! Lol.
    We know fundamentals that SAE sales exceed domestic production; etc. But it is going to take a sustained OVERWHELMING change in investor awareness of many months @ 100+ million demand to finally bust this cartel strangle hold.
    Ask WHY there hasn’t yet been that few $billion/month physical buying that this would represent. I remain perplexed as I observe world events; and assume most here are as well.

  13. Thank you SRS! The other area of great interest is the crimex silver OI. Since the crimex can paper settle at their whim, why would anyone buy as many December longs as they have…unless something is going down before December….such as the reset many are talking of.

  14. Here’s some confirmation for you Steve: https://www.youtube.com/watch?v=i0fRCu1PDsA&t=8m29s

  15. chinese new-weds are happy that the gold jewelry have become cheaper. thanks to BIS

  16. We’ve all been taught at school that demand determines price. The higher the demand, the higher the price will go. This rule doesn’t apply to gold and silver which makes price manipulation pretty obvious. The US and Canadian Mints find it difficult to keep up with the demand for silver. The bottom line is that gold and silver is money and it is in direct competition with the dollar and other fiat currencies. While the manipulation have become obvious as a desperate attempt to discourage people to invest in physical gold and silver, the contrary to what was intended is happening. People are buying and piling up. As gold and silver prices plunges I for one is actually smiling. I am a long term silver investor who are investing for my childrens’ future. Since I’m just an ordinary working class guy, I cannot buy large amounts at a time. I just buy a few ounces at a time. So I say bring it on JP Morgan and co and thanks guys for subsidising silver. Guys like me cannot thank you enough. The lower the price goes the more I’ll buy because I know that silver will always have value. If it is digged up in a thousand years from now it will still be valuable and so it will be when my young kids ho to college one day. The current ponzi scheme planners is in a desperate attempt to save a system which have served them well for so long.

  17. 15 $ ist to much.My prediction was wrong.We go below 15$.You can clearly see that.Look to the minerstocks.

    Sell off Modus.Free fall.

  18. Brian Scrocca | November 4, 2014 at 9:51 pm |

    There are many black swans out there that can present a problem for the Comex. They could be external from the entire PM realm, yet can turn it on its head. Just some for kickers. Bail ins,Global QE to infinity,WWIII,Derivatives,USD collapsing. Since 2008 we have not had a severe flash point. How quick we forget about those flash crashes. Even a much worse event than 911could occur. A pandemic outbreak. A number of catalyst could bring down the whole system. If one thinks that it was a $900 bil problem that nearly brought the system down in 08,why the $16 tril bail out of banks worldwide? See Audit the Fed. Patience is key when you know your right. Apple stock went public in 1982 if that makes one feel better. Sold for an avg price under $10 for the next 16 years.

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