After a slower than average sales month in January due to the US Mint’s shutdown, Silver Eagle sales have picked up significantly in February.  In the first eleven days of the month, the U.S. Mint has sold nearly 1.7 million Silver Eagles.
On Tuesday, US Mint official Michael White confirmed that demand for Silver Eagles remains so strong that the Mint nearly entirely sold out of its weekly 900,000 sales allocation of ASEs in the first 48 hours of the week.

2014 Silver Eagles As Low As $2.99 Over Spot at SDBullion!

From The SRSRocco Report:

In a recent article, I mentioned that I spoke with Michael White, Public Affairs person for the U.S. Mint.  I recently received a reply from Mr. White and continue to get updates and information from his office on Eagle Sales.

Mr. White stated that the reason the U.S. Mint took more time to roll out the 2014 Silver Eagles this year was due to the exceptionally high volume of sales in 2013.

On Monday, the U.S. Mint updated their Silver Eagle sales figures to 1,442,000 oz.  Mr. White sent me an email stating that they sold 592,000 Silver Eagles on Monday and the total allocation for the week was 900,000 oz.

As you can see from the U.S. Mint figures below, they sold an additional 249,500 Silver Eagles today (Tuesday) for a total of 841,500 coins.

 

Total Silver Eagle sales for Monday & Tuesday hit 841,500 oz.  Thus, the U.S. Mint only has 58,500 Silver Eagles to sell to its Authorized Dealers for the rest of the week.

Furthermore, Silver Eagle sales continue to outpace Gold Eagle sales in a big way.  For the month of February, here are the total sales of Gold & Silver Eagles to date:

Gold Eagles = 11,000 oz

Silver Eagles = 1,691,000 oz

Silver to Gold Eagle Ratio = 154/1

While Gold & Silver Eagle sales are a small part of the overall huge global precious metal market, they provide a good indicator of what is taking place in the retail industry.

As the Eastern Central Banks and large investors continue to focus on purchasing tremendous quantities of wholesale gold, retail investors are buying a great deal more silver.

At some point, a physical shortage in one will create huge demand for the other.  Gold & Silver are excellent stores of value because they store “Economic Energy.”  The majority of paper assets that the world has invested its hard-earned fiat currency are not stores of value but rather, “Economic Energy IOU’s”

Thus, energy needs to be burned to allow these ASSETS, LIABILITIES to be settled or paid back in the future.  This wasn’t too much of a problem when the world was able to increase its global oil supply, but now that the world is experiencing a Peak Oil Plateau and soon decline… it will rain death on these supposed paper assets.

(Image:  stacks of American Silver Eagle coins at San Fransisco Mint/ courtesy of CoinNews.net)


  1. Talking to my coin man today here in the UK, he says that sales have gone off the chart this year and he is having trouble keeping up.
    He also told me that he is getting big orders from companies that have nothing to do with bullion, companies are worried they are going to lose their cash in the banks due to the FSAs 75k limit on accounts. 
    ATMs at most banks are having problems due to glitches? I went into my local bank to do a transfer which is normally 20k limit and they told me that I could only transfer 5k a day until Monday 17th, so I said ok I will see you Monday, they replied we are not open on Monday due to staff training? I said anything to do with (operation waking shark II) they looked at me a bit funny and said nothing, I then went home and ordered 2k ounces. The bank in question was Barclays . 
    i don’t post on this site much, just read a lot, but I felt as thou I needed to say something.
    Keep up the great work DOC and all the team @ SD Bullion.
    All the best from the UK
    Dave 
     
     
     

    • Uksilverfox   Barklays announced today that it is laying off 12,000 people this year.  They are taking a $172 billion (USD) hit to capital due to losses and greatly reduced income from trading operations.  This came via Wall Street Journal. If you get this neocon rag, check the details.  Barklays is one of the main Queen’s bank and has immense involvement in offshore accounts for TPTB   They might not be the best to work with at present time.  ATM and bank shutdowns are a real and present danger  UK banks may be more vulnerable than US banks.  This is the best intel I have at the moment  You may want to do some more research on Barklays  Cheers from the US    that was a nice AG buy today

    • @AGXIIK Thanks very much for the heads up, i was getting tired having to make an appointment to see my fiat. My bklays account will be closed by Friday.
      @Alexi Verennikov Yes its true about the VAT, also i like your posh accent but not many people talk that posh anymore, unless you have a golden spoon up your sphinky. Im a cockney and drive around in a 3 wheeled van collecting monster boxes of Element 47.
      Keep safe and prepped people.
      Dont slack, increase your stack

    • @UkSilverFox
       
      Thanks for the comment, Dave.  It’s always good to hear from people in other countries.  Love the expanded viewpoint this gives.  Please feel free to comment any time.  :-)
       

    • @Darkhorse
       
      This sounds a bit like running an iceberg drill on the Titanic.  When one is in dangerous waters, it pays to keep the emergency skills sharp.  The bankers seem to be confirming that we are, indeed, in dangerous economic waters.

  2. Silver coin is really very SMALL percentage of the quantities of silver being traded every day. So if US mint runs out of blanks, that is pure negligence, not any kind of shortage, just to be fair and clear. Maybe not even 1% of people are invested in gold and silver. But when the panic arrives and more people come as buyers, then we will see shortages, not a moment earlier.

    So, nothing to see here (at the moment)!

    • Most of the silver being “traded” every day isn’t silver at all. The mint doesn’t make their own blanks but I agree with you in the idea that a shortage of eagles doesn’t necessarily mean a shortage of silver.
       
      The silver market is all jacked up though because from a physical standpoint I think something like 75% of it gets used in industry. Then on the mining side, 70% of it comes from base metal mining. So there are lots of moving parts but in my view an objective look at the picture shows that the market is loaded with a hair trigger.
       
      Why? Because after the drive by shooting on price primary mines have been pummeled, and the theory of supply and demand was thrown out the window since as the price fell and people were selling paper – the physical supplies got gobbled up. In short this joke ass move by the cartel blew up their faces. In reality they probably knew it would happen but it bought them more time.

    • Yea Z of course theres plenty of silver…gobs and gobs of it…problem is theres no more ASEs this week…now for someone like you who cant connect dots in order to form a pattern which will lead to a picture let me be perfectly clear…THE ENTIRE PRECIOUS METALS MARKET IS RIGGED COLLUDED ON AND MONOPOLIZED BY THOSE TO WHOM IT BENIFITS TO DO SO. I trust there was no equivocation in my shouting of the preceding statement. carry on
       

    • eligible for delivery or stored there by a customer? THere’s plenty of silver in my safe but it isn’t for sale. There isn’t much point in arguing about whether metals prices are manipulated or not so we’ll leave it there.

    • @
       
      “There isn’t much point in arguing about whether metals prices are manipulated or not so we’ll leave it there.”
       
      No, there is no point whatever in doing that.  All the proof of it needed is when MASSIVE silver paper is dumped onto the market in seconds during THE most thinly traded part of the day.  There is NO reason for doing that OTHER than slamming the price down.  Then, we have the bare-@$$ed short sellers, who do these paper machinations without so much as ever borrowing an oz. to back up their multi-million ounce sell “orders”.  Jump in hard (on paper), slam the price down, cover the short at the lower price, and wait for the price to recover from the smash.  Wash, rinse, and repeat. Don’t worry about the commodity “cops” at the CFTC. They are all asleep, snorting coke, watching Internet porn, and otherwise not amounting to a thimble full of warm spit. Nope, nothing to see here, move along, these aren’t the manipulators you’re looking for…
       

  3. “This wasn’t too much of a problem when the world was able to increase its global oil supply, but now that the world is experiencing a Peak Oil Plateau and soon decline… it will rain death on these supposed paper assets.”
     
    UPDATE:  These days, we don’t have to worry about peak oil slowing the economy.  Instead, we simply slow the economy to fit whatever amount of oil IS available.  :-/
     

  4. Re: 2014 Counterfeiting.  I wonder how many of these are fakes?  Remember my warning!  Test what you receive.  Weigh them, measure them.  Do whatever you have to do to be convinced they are real.  For God sakes, open them.  Don’t just push them in a corner of your safe.  The word is that eagles are POURING out of China…and they are really strong fakes.
    Oh, don’t rely on the incapsulated eagles either.  Remember, PCGS has an office in China.  Now THERE is a hmmmm if I ever heard of one.

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