The U.S. Mint updated its sales figures today… and it was another whopper.
Yesterday, the U.S. Mint sold 825,500 Silver Eagles which was about two-thirds of the weekly allocation.
The total Silver Eagle for February is now 3,671,500.
Not only has this been another excellent month (so far) for Silver Eagle sales, it is an all-time record for February!
From The SRSRocco Report:
The U.S. Mint raised the total allocation to its authorized dealers this week to 1,250,000 compared to 750,000 last week. Today, the U.S. Mint sold another 346,000 Silver Eagles for a total of 1,171,500.
This means the U.S. Mint only has 78,500 Silver Eagles available for the remainder of the week.
The total Silver Eagle for February is now 3,671,500:
Not only has this been another excellent month (so far) for Silver Eagle sales, it is an all-time record for February:
FEB 2010 = 2,050,000
FEB 2011 = 3,240,000
FEB 2012 = 1,490,000
FEB 2013 = 3,368,500
FEB 2014 = 3,671,500
I would imagine the authorized dealers will purchase the remaining 78,500 Silver Eagles of this week’s allotment to bring to total for the month at 3,750,000.
Lastly, there is a great deal of LOUSY ANALYSIS in the markets. I just saw Goldman Sachs downgrade Pan American Silver to a “SELL”, because the top-notch institution believes the price of silver is “overvalued.”
If I were to make a comparison here on what is really INSANE in this market… we would have the following figures:
FED Monthly Treasury & MBS Purchases (FEB) = $65 billion
TOTAL VALUE U.S. Mint Silver Eagle Sales (FEB) = $90 million
FEB U.S Mint Sales = 1.3% of Total Fed FEB purchases
I still receive a great deal of email from people suggesting to me that silver is overvalued and is not a good investment. All I can say to these folks.. wait around a few years and get back with me.
Because… GOD HATH A SENSE OF HUMOR…
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