U.S. MINT UPDATE: Silver Eagles Nearly Sell Out In Two Days

 

The U.S. Mint updated its sales figures today… and it was another whopper.  Yesterday, the U.S. Mint sold 825,500 Silver Eagles which was about two-thirds of the weekly allocation.

The U.S. Mint raised the total allocation to its authorized dealers this week to 1,250,000 compared to 750,000 last week.  Today, the U.S. Mint sold another 346,000 Silver Eagles for a total of 1,171,500.

Silver Eagle Sales Feb 24 & 25

This means the U.S. Mint only has 78,500 Silver Eagles available for the remainder of the week.

The total Silver Eagle for February is now 3,671,500:

Silver Eagles Update 22514

Not only has this been another excellent month (so far) for Silver Eagle sales, it is an all-time record for February:

FEB 2010 = 2,050,000

FEB 2011 = 3,240,000

FEB 2012 = 1,490,000

FEB 2013 = 3,368,500

FEB 2014 = 3,671,500

I would imagine the authorized dealers will purchase the remaining 78,500 Silver Eagles of this week’s allotment to bring to total for the month at 3,750,000.

Lastly, there is a great deal of LOUSY ANALYSIS in the markets.  I just saw Goldman Sachs downgrade Pan American Silver to a “SELL”, because the top-notch institution believes the price of silver is “overvalued.”

If I were to make a comparison here on what is really INSANE in this market… we would have the following figures:

FED Monthly Treasury & MBS Purchases (FEB) = $65 billion

TOTAL VALUE U.S. Mint Silver Eagle Sales (FEB) = $90 million

FEB U.S Mint Sales = 0.13% of Total Fed FEB purchases

I still receive a great deal of email from people suggesting to me that silver is overvalued and is not a good investment.  All I can say to these folks.. wait around a few years and get back with me.

Why?

Because… GOD HATH A SENSE OF HUMOR…

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16 Comments on "U.S. MINT UPDATE: Silver Eagles Nearly Sell Out In Two Days"

  1. Steve.

    Great post ..and yes god does have a sense of humor. I hear the same things from many parrots replicating the mockingbird media. They think that makes them smart because, children are conditioned to think that repeating things makes them smart in school. They also tune into regularly scheduled programming every day..so they know what to say. Even when they realize they are wrong..they dont admit it. They are free to do as they like and milk cows turn to beef cows in times of trouble.

    I see no ASE in my local coin stores in southern California. I see maples and other generic rounds/bars..but ASE have vanished. They say that they can order them….uhh… no thanks.

    Its Bill Hicks birthday … he was a great thinker and died before his time. Have a laugh with me.

    http://www.youtube.com/watch?v=SlrKW7fh_Bo

    Thanks for the update. Havent seen Drutter around lately…If you haven’t seen the Drutter divergence..its worth looking at.

    Cheers

    Paul

    • Paul,

      Thanks for the input on the parrot and the video link. Was a good laugh. I actually did see the video.. Drutter’s divergence… but have not seen anything else by him lately.

      steve

  2. Steve you made a mistake in your math, the purchases of Silver Eagles are not 1.3% they are 0.13% of the Fed’s QE.

    It would make me wonder if such a big part of money from QE find its way to Silver Eagles.

    P.S. Keep on your good work I am enjoying it. Every day I visit this site here to see if your long awaited Report is finally out.

    • GermanReader,

      Yeah.. thanks for the correction. I threw that article out quickly yesterday and was a bit sloppy with the math on that calculation. I made the correction in the article.

      I do know Hedge Funds are buying a good portion of the Silver Eagles. It makes sense as the leverage is much higher than gold and right now the price is at more of a BOTTOM than TOP.

      I appreciate you patience with THE US. & GLOBAL COLLAPSE REPORT. My web designer will be putting together the new REPORTS PAGE here in the next few weeks.

      The problem with me and research… is the more I look into an area, the more I find interesting…. that has to been added into the report.

      The REPORTS PAGE will be located in the TAB BAR that currently says MEMBERSHIP.

      steve

  3. Goldman Sachs sell recommendation means buy. Their buy recommendation means sell. They truly are evil.

  4. The Feb US Mint Silver Eagle sales = 0.13% of Fed’s February Monthly MBS Purchases (not even 1.3%).

  5. People would be better off buying food. You can’t eat silver in a famine.

    • Diana,

      While it is true that I would prefer owning food over gold or silver, it is impossible to store hundreds of $billions (or $trillions) of the world’s wealth in food. There just isn’t enough food to be purchased.

      If an individual does not have a lot of fiat currency, then yes… they should spend most of it on bulk food. However, if they have plenty of surplus fiat currency, then it would be wise to purchase gold and silver.

      steve

  6. Hi!
    Is there any difference why some one should go crazy hunting down ASE if there is so wast offer of anything else? Do not know about US, but in Europe there is about 8 different silver sources, including Armenia as the most exotic having wide product range (“coins” till 5 kg per piece).

    • Janis,

      Not really. The best silver to own is standard bullion from a good dealer. I do own some Silver Eagles, however, .999 & .9999 silver are all good in my book.

      steve

    • UK Silverstackers | February 26, 2014 at 8:38 am |

      Good point Janis.

      Steve what you said about hedge funds etc buying, do the hedge funds buy massive amounts compared to US stackers?

      Why do hedge funds buy ASE as opposed to Kilo bars?

      Do US stackers prefer ASE or just buy best value.

      Which coin offers best value in the US? here in the UK it’s Armenia then Austrian Philharmonics then Maples. More expensive coins are ASE, Panda, Libertad and our own Britannia are usually $3-6 or more expensive.

      • UK SilverStackers,

        I don’t know the percentage mix of Hedge Funds and the public buying of Silver Eagles. However, I spoke with James Anderson at GoldSilver.com, and he stated that there is a good amount of Hedge Fund buying and selling of Silver Eagles.

        I wouldn’t be surprised if the larger percentage was Hedge Fund buying.

        As for me.. I think the Canadian Maple is the best value for official silver coins and for gold… the South African Krugerrand.

        steve

  7. Wait a few years indeed! Silver over-valued?

    The gold/silver ratio (GSR) ending last week was 70 to 1, has now blown out to 102 to 1 as of the latest figures this morning. Ted Butler says this is the highest GSR in U.S. Mint history! This is NOT a sign of being “over-valued”. Quite the contrary, if anything, becoming more under-valued!

    Interesting piece in ‘The Guardian’ covering a back door (conflict gold) global gold supply that is attempting to fly under the radar.

    http://www.theguardian.com/business/2014/feb/25/conflict-gold-global-market-trading-kaloti

    Also, Lawrence Williams over at :http://www.mineweb.com has an interesting piece titled; “Top 10 gold miners losing billions – but are they really?”

    Thanks again Steve for all your hard work. Looking forward to your new “global report”.

  8. I’m reading your wonderful analysis in Hong Kong. People from Mainland China have really been purchasing gold ointment at big jewelry shops in HK like crazy whenever the gold price dropped. People in Beijing, the capital of China, and Shanghai have also been buying like there’s no tomorrow during holidays, as my younger brother told me. I have quite a number of Indian neighbors who work at the Airport nearby said that Indians are so fond buying gold and until recently, silver.

    There is a Mainland Chinese young man called Song Hung-bing, the author of Currency War series, has written many articles and showed up on TV programs educating the people on how to understand the real world and prepare for the imminent collapse of the world’s reserve currency (USD). His writings and presentations are educational and have wakened up the people of the Dragon in the Orient.

    In Hong Kong, unfortunately, the Mainstream Media is controlled by the big corporations with the most popular media under Western influence. They spend time arguing democracy, Communist incorrect intervention of our internal affairs. Newspapers covering messages from the Western world. The anti-Government parties are focusing on unimportant time-wasting disputes. HK officials are already brainwashed during colonial governance. They are very happy pegging our fiat currency with USD. High salary and low IQ. I can assure you that the general public in Hong Kong are largely misguided by the MSM and are, therefore, still sleeping, so to speak.

    Thank you, Steve. I will keep on learning from your website and then educate people around me.

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