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

  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.

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

  2. 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?

    • 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.

  3. 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!

  4. 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.

  5. 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.

    • 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.

  6. 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.  ;-)
       
       

  7.  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.

  8. 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.

  9. 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.

  10. 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.

    • 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?
       

  11. 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.

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