Silver Eagle Sales Hit New Record In March & Large Comex Silver Withdrawal

Silver Eagle Update March 28 2014According to the recent update by the U.S. Mint, Silver Eagle sales hit a new record in March.  Sales of the U.S. Silver Eagle reached 4,476,000 at the end of the week.  Even though this surpassed the amount sold last year by over one million, the U.S. mint still has one final update to take place on Monday, March 31st.
If sales of the Silver Eagle top 500,000 on the last reporting day, total sales in March could surpass 5 million and overtake January as the highest monthly total.

From the SRSRocco Report:

Silver Eagle Update March 28 2014

If sales of the Silver Eagle top 500,000 on the last reporting day, total sales in March could surpass 5 million and overtake January as the highest monthly amount.

This would put total sales for 2014 at 13.5 million down compared to the same period last year which reached 14.2 million.  While this is a decline year over year, it was more due to allocated limits rather than a fall in demand.

The U.S. Mint didn’t begin selling the 2014′s until the end of the second week in January.  Furthermore, the Authorized Dealers purchased every allocated Silver Eagle they could for the month.  Which means they couldn’t acquire any more than the 4,775,000 shown in the table.

Even with this limitation, sales in 2014 are doing quite well as purchases in February and March were stronger than last year.  Here are the comparisons:

FEB 2013 = 3,368,500

FEB 2014 = 3,750,000

MARCH 2013 = 3,356,500

MARCH 2014 = 4,476,000 (current)

Without including Monday’s update, 2014 Feb & Mar are up 1.5 million compared to 2013.

According to the U.S. Mint, total allocated Silver Eagles for this week were 1,416,500 which would have brought the total for the month to 4.7 million.  This week, only 1,192,500 Silver Eagles were sold… which suggests the total allotment was not purchased be the Authorized Dealers.

It will be interesting to see how many Silver Eagles are sold this coming Monday and if demand remains strong in April.

The Comex has been slowly building silver inventories at its warehouse over the past several months.  However, there was a large single 1.7 million oz withdrawal from Scotia Mocatta today knocking the total warehouse level below the 180 million oz level.

Comex Silver .Inventory 32514

Lastly, some readers have brought it to my attention that the site has recently focused more on the so-called “Manipulation Theme”, rather than providing original information, facts and data on the energy, mining and precious metal industries.

I understand why some readers may feel this way.  However, I do believe there is serious manipulation taking place in the markets… I just haven’t been able to express my views on this more constructively.

I see the manipulation not as an OVERT method (while it is highly possible at times), but rather a cause-and-effect due to herding the public into highly leveraged paper assets that have no future.  I will explain this in more detail in the future.

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    China to convert it’s remaining Treasury Bond Holdings into COMEX gold holdings.
    The request came in after recent gold manipulation investigation in paper markets. The move caught many by surprise including Goldman Sachs and over-leveraged bank’s derivative trades. It will most likely lead to quite a few commercial banks defaults based on the recent all time high net short position report.  China has been aggressively accumulating physical gold bullion in recent years and was not pleased to discover Western Banking Cartel was manipulating Gold Future prices in last 3 years. 
    The story is developing and updates to follow. 

    • Vwat iss yoor sauce please. Da

    • timetoprepare … “China to convert it’s remaining Treasury Bond Holdings into COMEX gold holdings.”
      I couldn’t find a corresponding link. Where’d you find that? Link please?

    • Seems made up, April comes early this year.

    • China has been doing this for a while now. This is why I believe they like these fake prices and are either in on the manipulation, or are at the very least, glad to take advantage of the prices. My truly cynical side believes that the fed is orchestrating this action specifically for China’s purposes…..

    • That just type of news that might be on horizon guys :) I decided to bring April 1st little earlier. I read interesting post today, thought will be nice to share on one of the mining boards
      you need little bigger stomach and patience sir. I think you bought into gold through the roof idea and easy 10 baggering. I would agree with 10 bagging on this one, but defentiely not easy. Expect false flag event led by goldbugers this time to corner bankers and their propaganda news. This will be pure payback / revenge for what they did to pricing in last few years. There is just too much of big fish that just not happy.Rally will not start from COMEX paper market but equities as earnings are getting better on most of players out there. Mining index will diverge and cause deal seekers to just on metal itself. Be patience and accumulate when you can steadily. You don’t want to click buy bottom when everyone else does. 

  2. Good signs that The People are just beginning to stir from their stupor. We can only pray they can ‘snap to’ before the ‘escape hatches’ all close.

  3. The only “fools” you will find on April 1st are those who can, but don’t own silver and gold!

  4. Everyone knows the exact time of the day the cartel goes to work on gold and silver. Ten days in a row now. What a joke these “markets” have become.

  5. The total depletion of COMEX and especially the LBMA is like waiting for Christmas.
      There’ll be lots of goodies under the PM tree but mom and dad aren’t telling us when that day will come.  
    The only thing we know for sure is who’s been naughty and nice.  

  6. Early April fools joke compliments of the USMint–No sales report today.

  7. Here is news MSM ran a story of how HFT is screwing the little investor while the big banks are raking in billions by seeing a trade before it goes through, buying then selling to the original buyer at a slightly higher price. The little guy has been screwed for billions for years because of HFT that they cannot hope to match.

  8. MaryB … “HFT is screwing the little investor”
    In a dispassionate effort to stay within the fair market rules of competitive arbitrage, I’m forced to say that’s no different than a grocery store having the advantage of sourcing, customer preference data and business channeling to get a cheaper price on items and turn them over at a small mark-up to generate large profits on high traffic trade.

    The solution would be to revive the private ‘Curb Market’ and small ‘Boutique’ Bourses specializing in say, Electronics, Mining and different varieties of manufacturing operations where they have close relationships with companies finance departments to certify bona fides of shares to guarantee authenticity … and, keep shares either in folks’ physical possession or under trustworthy hands of personally known brokers who’d built up easily verifiable stellar reputations in the community.

    The same ought to be done with private banking, so Real Bill Clearing operations can be revived to minimize Interest Bearing Loans and any need to float damnable banknotes into circulation. That environment will rekindle proper rational pricing of Money, Discount and Interest into an integrated fluidity again.

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