U.S. MINT CONTINUES TO SELL 50 TIMES MORE SILVER THAN GOLD

Submitted by SD Contributor SRSrocco:

The US Mint’s frantic silver sales pace continued over the weekend, as the Mint reported 430,000 ounces of silver sales over the weekend on Monday.  Perhaps more importantly, the US Mint Silver eagle to US Gold eagle sales ratio continues to exceed 50 to 1, a pace that is simply unsustainable with a current mine ratio of 9 to 1.

 

Friday was the last day the U.S. Mint updated its figures.  At last count there were 2,014,000 Silver Eagle sales for October.  They just released the new total:

OCT = 2,449,000 Silver Eagles

2012 Silver Sales Totals
(in ounces / number of coins)
Month One
( oz. / #coins )
January 6,107,000
6,107,000
February 1,490,000
1,490,000
March 2,542,000
2,542,000
April 1,520,000
1,520,000
May 2,875,000
2,875,000
June 2,858,000
2,858,000
July 2,278,000
2,278,000
August 2,870,000
2,870,000
September 3,255,000
3,255,000
October 2,449,000
2,449,000
Total 28,244,000
28,244,000

I would imagine if we keep up this pace we will see a total of 33-35 million Silver Eagle Sales for 2012.  Even though this may be lower than 2011… if the price of silver runs over $50 an ounce within the next 6 months, the U.S. Mint may not be able to keep up with demand.

3 THINGS I LOOK FORWARD TO:

1) price of silver north of $50…. (for starters)

2) The U.S. Mint unable to keep up with future massive silver investment demand

3) the article I plan on writing about LOUSY PRECIOUS METAL ANALYSTS (Nadler, Schmidt & Christian) when the top 2 things occur.

*Update by The Doc:

US Mint silver eagle sales continues to run at nearly a 55 to 1 clip to US Gold eagle sales at 2.5 million ounces of silver vs. 43,500 oz of gold:

2012 Gold Sales Totals
(in ounces / number of coins)
Month One
( oz. / #coins )
Half
( oz. / #coins )
Quarter
( oz. / #coins )
Tenth
( oz. / #coins )
Total
( oz. / #coins )
January 84,500
84,500
24,500
49,000
9,500
38,000
8,500
85,000
127,000
256,500
February 20,000
20,000
0
0
500
2,000
500
5,000
21,000
27,000
March 57,500
57,500
1,000
2,000
0
0
4,000
40,000
62,500
99,500
April 19,000
19,000
0
0
500
2,000
500
5,000
20,000
26,000
May 49,000
49,000
1,500
3,000
1,000
4,000
1,500
15,000
53,000
71,000
June 55,000
55,000
1,000
2,000
1,500
6,000
2,500
25,000
60,000
88,000
July 28,500
28,500
0
0
500
2,000
1,500
15,000
30,500
45,500
August 34,000
34,000
1,500
3,000
1,000
4,000
2,500
25,000
39,000
66,000
September 63,000
63,000
1,000
2,000
1,000
4,000
3,500
35,000
68,500
104,000
October 41,500
41,500
0
0
500
2,000
1,500
15,000
43,500
58,500
Total 452,000
452,000
30,500
61,000
16,000
64,000
26,500
265,000
525,000
842,000

SD Bullion customers are not surprisingly even more silver focused, with SD Bullion silver to gold sales ratios currently near 200 to 1!

Comments

  1. Will the U.S. Mint run out of silver before or after the dollar becomes worthless?

    • @ Silver it is worthless now..They just keep continuously propping this fake piece of butt wipe daily…

    • I think the US Mint will run out of silver during the hyperinflation scenario of the US dollar which is before the collapse of the US dollar because more people will be rushing to exchange their dollars for a cheap precious metal which is silver during that event.

  2. “LOUSY PRECIOUS METAL ANALYSTS (Nadler, Schmidt & Christian)”
     
    Maybe when silver passes $50 the Doc could have a roundtable discussion with those clowns.

  3. Hmmm. My current stack
    1.6 oz gold. Then silver as follows
    Philharmonic 2 oz
    Kookaburra 10oz x 2
    Koala 10oz x 1
    Canadian Cougar x 25
    Canadian Antelope x 1
    Canadian Moose x 1
    Canadian Maple x 175
    American Eagle x 69
    Mexican Libertad 4 x 2 oz and 2 x 5 oz
    Bars 1.1kg (35oz)
    Doing my bit to drain the available  silver phyzz :)

  4. Oh Boy Yes! That’s why Silver is tanking.

  5. Got my bar of soap out for the bath.

    http://www.forexpros.com/commodities/silver

  6. @NetRanger808 The dollar is worth less and less by the day, but it is not worthless yet. If that’s not the case, would you send me some dollars, I need dollars to buy silver. lol

  7. Anybody on this blog tell me what 4500 ounces of fizz Silver will be worth when Silver hits !00 dollars
    an ounce? My calculator is busted. Have my ownself 20 ounces of Gold Eagles too, heck I guess I’ll
    sell those out as Gold becomes more worthless. What do you think? 

    • If your calculator is busted, then search on Google “free online calculator” and you will get one that is digital. Although, I wouldn’t sell too much gold for some silver because silver is more bulky than gold so if you ever have to move your wealth very fast, moving them in gold would be easier than moving them in silver.

  8. How long before the mint has trouble getting silver blanks? With the latest troubles COMEX is having with delivery it won’t be long.

  9. “Nadler, Schmidt & Christian”

    Don’t forget to add Gartman to this bonehead list. 

  10. Surely the question whether this sales ratio is sustainable is dependent on the share which minting sales make up of production?

  11. You should also show the Canadian silver Maple Leafs sales. Anyway, it is amazing that the silver to gold ratio is still way high and that there aren’t still any physical shortages. Soon, there will be an American silver Eagles shortages as the Chinese silver Pandas’ productions are rising.

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