Fact or Fiction? US Mint Reports 27.6 Million Silver Eagles Sold in July!

USMint silver eaglesThe US Mint has updated its Silver Eagles sales stats this evening to indicate a massive 27.575 million ounces sold in July, and 52.62 million oz sold for the year!
While we suspect the Mint has made a typo, perhaps Bernanke and Dimon have thrown in the towel on a taper and have dumped their personal July compensation into phyzz?

The Mint’s massive silver sales update is below:

Silver Eagles generic add

USMint silver eagles

Full US Mint silver eagle sales can be found here:

 

Warbird launch

Comments

  1. Actually, the US Mint isn’t allowed to post false numbers on their data but they are allowed to put the numbers from previous months into one single month. For more information, look at Drutter’s YouTube channel. In conclusion, these are real numbers from the previous months of 2013 but the fact that they were all from July is false.

  2. I checked their website and this is actually there!
    http://www.usmint.gov/about_the_mint/index.cfm?action=PreciousMetals&type=bullion

    • The mint has fixed the typo. It was a running total that was inputted for July.
      Everyone can check the link themselves…….

  3. Good Lord….WTF is going on?

  4. Here is a great interview by Lars Schall with William Kaye of the Pacific Alliance Group of Companies in Hong Kong.
    http://www.metallwoche.de/clarification-of-william-kaye-re-german-us-gold-in-hong-kong-refineries/
     

  5. On Monday July the 15th total sales were 2.5 million. Since then (2 days) they added an extra 25 million ounces. At the beggining of the month the U.S mint had already rolled over about 800,000 ounces. So Now they just rolled over an additional 25 million ounces? what’s up with that?

  6. A decimal point error? Maybe 2.76 million should have been reported, but that sounds a little low.

    • Yeap decimal point one place to the left. It was probably someone at the mint day dreaming about their bonus.
      There again maybe they are rounding up accounting errors over the last year (cough). Ummm you never know that total works out to be about 7 million ounces per month, average.

  7. Believe it! 1ofR Our local coin dealers on Maui  is asking a $6.50/oz premium on eagles. 

  8. The cartel expected low demand on low prices, they were wrong this time. 

  9. Well its obvious to me.  The fed want us contrarians to see the masses are piling in so that we stop buying the damned silver fools!
     

  10. Talking about mind boggling figures I was looking at US debt. I roughly calculated it should be $17 trillion by labour (labor) day. It is growing at about $3 billion per day.
    So shall we have a sweepstake on the level of the new debt ceiling. I’m going for $18 trillion that will give a years breathing space at current debt growth.
    The winner gets bragging rights!

  11. I’ll take a punt and say that the leading ’2′ is a mistake. A figure of 7,575,000 seems more consistent with the prevailing conditions.

  12. Yeah, I am pretty sure it’s a mistake. The 27 number is the total sold year-to-date. Until the end of June 2013, 25,043,500 ounces had been sold. That makes the current July number around 2.5 million, which sounds about right.

  13. http://www.bloomberg.com/news/2013-07-16/bernanke-seeks-to-divorce-qe-tapering-from-interest-rates.html
     

    Bernanke Seeks to Divorce QE Tapering From Interest Rates

    By Joshua Zumbrun, Jeff Kearns & Michelle Jamrisko - Jul 17, 2013 12:43 AM PT

  14. After the late June bottom of $18.50 ish, and the hold/rise off that bottom, every asset purchaser worth their salt got off their arses and loaded the truck. Seems logical to me.

  15. The question that needs an answer is: Did the mint have that much raw silver on hand to mint this number of coins? If these numbers are real, we have never seen this massive amount of mintage! I tend to believe these numbers are not genuine. However, if they are, then something or someone has entered the dog fight with a very large canine.

  16. obviously a fat finger mistake, but hey lets mentally masturbate like its true lol!

  17. I think it is correct. What isn’t being reported is that we stackers have got em by the gonads, and the noose is tightening.

  18. Is the mint even capable of producing that much after they closed up at xmas for far less? 

    • no way. The notion is retarded. IF that were to be true, you’d have far eclipsed the US production of silver for the year, so you’d have to have seen massive importation of ready for delivery silver, then had it worked through the suppliers to make planchets then put through the mint. This in the face of record demand for every other coin too, putting stress on the system. It is idiotic on its face.
       
      The other thought, that the mint comes clean about it’s fudging the numbers to this point, is as well, retarded on it’s face.
       
      My bet is we’ll see a legit between 3.5 and 4 million eagles sold for july, which is wonderful, and keeps on pace for a record. Weigh that with a Q1 for the RCM of +65% YOY, and we see what is up.

  19. wow, sensationalize much?  If you look at the break down it is no where near 27Mil, an obvious typo.

  20. Looks like the Mint bean counter has math skills like mine. Must be a former banker. 
    On another note, there was a recent blog that showed reporting on the  US Debt was halted a month or so ago. The debt limit is coming soon.   I don’t recall that particular figure but the US Debt clock shows about $16,866,000,000,000 and climbing.   The failure to disclose is unusual if true but not surprising.  If you don’t look at it then it must not be there. 
    The debt is about $53,000 per person or $148,000 per tax payer.  Charlie, don’t spend those commissions so fast. The IRS might want your share really soon.  They don’t take silver

    • “Looks like the Mint bean counter has math skills like mine. Must be a former banker.”
       
      I’m thinking that this was from a former BLS or Fed employee who now works for the US Mint and no one told him not to fudge any numbers in his new position… unlike his previous one.  ;-)
       
       

  21. @AGXIIK To Late Already Spoken For. It’s Silver or Nothing. Lol

  22. hey look waterfall up, waterfall down…

  23.  It most likely is a typo but,,,, LOOK at what India has been buying! N. American silver Stackers will find the cash to buy at these prices and have probably been buying massive amounts just like India! If the mint has been falsely reporting the 2013 monthly sales like they did back in March/April This could well be true and the mint is only now giving the real accounting.

    • no doubt the overall silver sales for N.A. have been wild, same with canada and as we see indian imports combined with mining woes should tip the scales in our favor. I don’t know if the indian govt shat the bed on purpose here or left the silver side open to placate it’s masses.
       
       

    •  @ Dirtlump: With the Ag price off 40% of what is was in 2012 The same amount of money will by almost twice as much metal. Add in new stackers and very excited old stackers who know a good deal and the yearly number could be right. It’s the monthly sales numbers they might be trying to hide!! THIS IS POSSIBLE, FOR SURE.

    • it is possible in some theory, but the idea that the mint can adjust their sales by 22 million in one day is impossible unless they are correcting a year’s worth of lies. Supplies for eagles is still reasonably tight and there simply isn’t 20 million freshly delivered ones out there.
       
      Mammoth, 2.7 million for the first 16 days is jsut fine. LIke I said, we should end up between 3.5 and 4 million sold this month.

  24. If this was indeed a decimal point error and the actual sales for last month were 2,757,500, what this actually shows is a trend of declining ASE sales since April:
    April:  4,087,000
    May:  3,458.500
    June: 3,275,000
    July:  2,757,500
     
    These figures reinforce silver’s designation as a Giffen Good: A product for which demand rises when the price increases, and demand falls when the price decreases.  Despite our enthusiasm, we stackers here on SD are not making a dent in ASE sales.

    • Demand falls when price decreases? The US Mint has been on pace for record ASE sales the whole year, well above 2011 when silver was $28-$48. 
       
      Gold and silver prices are being held down by massive leverage (paper). Physical demand is still very high for both.

    • Numbers way over last years sales.  It does seem like the industrial demand for silver has slowed, but the way the prices act we’re seeing a lot of buyers @ $19, how many are industrial users locking in some portion of future demand?  I’d wager quite a few.

  25. Fiction.  The 27,575,000 is the YTD number….not July.

  26. Looks like they adjusted it back to 2,531,500. Have you heard the theory that TPTB have to tell you what they’re going to do before they do it? Cosmic/karmic laws, it’s the way the game is played. Keep the 27.6 mil in mind for later and we’ll see if that resurfaces in some way later.

  27. Correct number is 2,531,500, Lowest month all year…

    • @jiggysmb : you do realize july is only half over, meaning 2.531 m would be on pace for 2nd largest month of the year, correct?  or were you just hoping noone would think of that and call you on your BS?

    • About time to kick this troll to the curb Doc? 

    • The first 2 weeks of May & June made way more than half of the months’ sales. 

    • Well maybe they quit adjusting sales and this time less is brought over from June.
      Isn’t July tradtionally slow anyways? Prices are flat, no reason for panic buying, and the July record will be taken out anyway.

  28. I stand corrected on my 12:47 p.m. comment.
    The jury is still out on July, as the month is barely half-finished.
    (must’ve had a ‘senior moment,’ but then again, I am 20,000 years old.)
     
    Having said that – I still stand my ground regarding Ag demand decreasing when prices drop (after the initial enthusiasm), and I believe @The_Doc can verify this point.
    ———————————-
    Let’s not be too hasty to call people ‘Trolls’ just because they have a contrarian point of view.  Would like to feel all commenters are welcome as long as they don’t launch vicious personal attacks against others here.

  29. Remember folks that ASEs can only be minted with domestic Ag as per law…no way on Gods green earth is that number of coins possible.

    • I heard that there is an exception to this part of the law because they are also required to meet public demand for gold and silver eagle coins.  When demand outstrips domestic gold and silver production, they MUST import gold and silver if they are to meet demand. Can anyone verify this one way or the other?
       

  30. About booting the troll… i agree with Mammoth on that one, no reason to boot em, as i much prefer my trolls scrambled with homefries.
    ;-)

  31. US Mint has corrected their error. The dream gone…the dream is gone

  32. realist news posted a video where he called the mint and it is indeed a fat finger.
     
    As much as I’d like to see these sales for ASEs, we all know it is impossible, but also not necessary to have silver find it’s true unknown value. We’re at or near the cost of production, all government and private mints have been seeing unprecedented demand, mines have been being shuttered for economics, safety, environmentsl concerns. The economy is an illusion. Just come quickly lol.

  33. Someone screwed up or someone is trying to sentationalize take your pick, real numbers https://www.usmint.gov/about_the_mint/index.cfm?action=PreciousMetals&type=bullion

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