With dismal U.S. Mint sales to date for the month of April and stagnant silver prices in the low $30s, it’s easy to get lulled to sleep thinking the silver story has run out of gas.  I’d rather put on the rosy glasses and look ahead to some key events which could jump start the beginning of the next leg up in the respective metals.

First the bad news…

With only 6 trading days left in April, the US Mint is reporting silver sales at 880,000 oz.  This is down from 2,819,000 April of 2011.

2012 Silver Sales Totals
(in ounces / number of coins)
Month One
( oz. / #coins )
January 6,107,000
February 1,490,000
March 2,542,000
April 880,000
Total 11,019,000


Who is liquidating the metal out of the SLV?

I came across this chart tonight and noticed a large spike year over year in silver being taken out of the SLV.  If we actually gave SLV credit for having any phyzz to begin with (which we don’t), one has to wonder where the liquidated metal is headed to.

What we have to look forward to…..

1.  Fed Announcing QE

2. US Debt Ceiling Hike

3. Indian Wedding Season


  1. I look at low mint sales as a good thing.  The general public is still in the dark and we haven’t seen anything the last eleven years like we could and will see if 1% buy silver.  What would be worse concerning sales, is having sky rocketing sales with the price remaining in the doldrums.  I think price performance is an indicator of where sales will go.  With the recent price performance only the die hards are buying.  My mission is to convince people to buy silver and get as much fiat as I can to buy silver.  I made that comment on the last thread but I doubt anyone had the patience to scroll down past all those videos jake posted to read it.  I’m sure people on here like what you contribute Jake but I know you from silverseeker and this site ain’t no silverseeker.  

  2. Maybe two other reasons for the slow sales-
    The smack downs have been regular and severe, causing damage to the psychology behind the market.
    We have fear and loathing of more lay-offs, foreclosures and whatnot. People are ‘investing’ in bills, food, and gas. Money’s pretty tight.

  3. I’ll clarify my issue with Jake, if he cares so much about the SD community then why did he leave Doc hanging and disappear for a long while and then magically shows up to the new site within a week seeming to be self absorbed posting video after video.  I know saying this probably won’t make me any friends and that’s fine and I hope Jake that you talked to Doc.  I know if I was a contributor to a website and stopped communicating but still lerked on the site and saw a posting of me with missing by it I’d speak up.  For your sake Jake I hope I don’t have all the facts or missed you addressing the issue.

  4. If I could add a little bit to the slow sales. TAXES! Im self employed and this year I sold 80oz to help make payment. I would also say allot of people are investing in homes. With the low lone rate and a buyers market people are pinching pennies to take advantage.

    The unemployment rate is higher than were being told. So much so as to gas sales are vary low as well. With the election coming in 6 months No hope No change, that will slow a market.
    Silver investors are selling as well to make ends meet. so the second hand market will impact the retail market.
    We had that tax issue in India last month.
    All in all retail silver is not that bad in this economy right now.
    Key points this year: China just ramped up the buying of metals, India is going to keep buying oil with gold from Iran. The dollar is losing hold on being the worlds reserve, The Europe Dept, OE 3,4,5, The IMF is looking at china to gold back a reserve, Our elections, And the world looks like it wants to explode into war.
    That 80oz I sold to someone who normally would not have been a buyer. There eyes are opening….
  5. People are getting tired of hearing how well silver is going to do…that it’s the ‘best investment of the next decade’…and then it just doesn’t seem to happen.  Sales tend to jump when the price starts to go up…and people think that it will continue to do so.  In most sales, people are NOT trying to ‘buy in the dips’…they are trying to buy AT THE BEGINNING of a rally.  They don’y know the fundamental story…or if they do, they do not really believe it.

  6. I am waiting for them to fall.  I do not think we are going to see the spike everyone is predicting until the Eurozone actually collapses or they run out of ink.  Either way, it is going to be a while yet.

    Don’t get discouraged, it will happen.

  7. Never tire of hearing how well it’s going to do; More concerned that prices are going to go up too quickly and change the way I am able to add. But PM’s getting the skeet kicked out of ’em to start the week here…..

  8. I guess the letter writing campaign to the CFTC didn’t get off the ground yet. 😉
    Looking over the charts it appears that gold was attacked at 3 AM, pulled down a bit, and is showing strength with the American market open.
    Silver is scheduled for a thorough day-long ass-whupping. It is cheaper to do, and  it also shows they are absolutely terrified of silver in general.
    This is war, folks.  Harvey Organ says they are trying to shake some resolute longs out of their positions and not getting anywhere.  I smell fear.

  9. I feel just because mint sales are down that it is not necessarily an indicator of silver sales in general… For every person who stacks away ASE there is likely multiple persons who do not stack ASE…. I know I do not…
    Silver is a long term move… It is hard for it to be a solid long term move if it shot up in a short amount of time… You also can not expect silver to be freed of the manipulation that takes place out of no where… As long as there is obvious “horse play” in the market it can’t be expected to move in an upward direction for the long term….

  10. Who is this “T”? What obligation did I have to the “SD COMMUNITY”? This is cyberspace “T”. I never signed any “agreement” to do anything and I’m here now, but what would you like me to say or do?

    What is this “issue”… Spell it out. What would you like this forum/blog to do that would help or improve it?

  11. I agree Danno. Silver is like anything else. Although an ounce is an ounce, diversification never hurts. I just bought some Maples and a while back i got some Libertads to add to my eagles and constitutional.. Never know which side of the border I may have to bug out to.

  12. I got the pandas also… Just need to keep them separated from the Kookaburras and Koalas… It’s ugly when they all start fighting and goin at it!! It’s one hell of an uproar!! Haha….. 

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