Last Tuesday March 26th, we reported that the US Mint had sold 3,356,500 Silver Eagles in March, nearly 1 million in the past 4 days, and were only 25,000 oz from surpassing the all-time March sales record set in 2010.

Well, The Mint would have smashed the all-time March sales record for Silver Eagles…had it not held back sales totals for a full week, and reported a whopping 812,000 oz sold on April 1st.

 

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The US Mint’s numbers as of March 26th, with 4 business days remaining in the month:

 

Notice that not a single ounce was reportedly sold over the last 4 business days of the month, yet 812,000 Silver Eagles were sold on Monday:

 

2013 Silver Sales Totals
(in ounces / number of coins)
Month One
( oz. / #coins )
January 7,498,000
7,498,000
February 3,368,500
3,368,500
March 3,356,500
3,356,500
April 812,000
812,000
Total 15,035,000
15,035,000


Fudging the stats by withholding sales totals till the next month might prove a slight problem in April, as Monday’s 812,000 sold is approximately a third of the Mint’s all-time record April sales total of 2,819,000 oz, set in 2010:

2011 Silver Sales Totals
(in ounces / number of coins)
Month One
( oz. / #coins )
January 6,422,000
6,422,000
February 3,240,000
3,240,000
March 2,767,000
2,767,000
April 2,819,000
2,819,000

 

 

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  1. Hi, all the time I was reading all articles and comments, but this time I decided to comment, because I think The Doc underestimated US Mint management inteligence.
    IMO US Mint is trying to cover something much more important. If they had to postpone only 0,8 mln oz., they could release 0,2mln oz. on 04/02 and the rest two days later. But what if they have to “manage” not reported cumulated 2,5 mln oz. or even 3,5 mln oz? In such situation, they are forced to release info about sales as soon as possible, because there is too much to hide already…
    PS. Sorry for my english – it’s not my basic language :)

    • In my humble opinioun, NOT TOO MUCH LONGER, hopefully a few more months.
      Prepare yourself for a 20- 25 (or even lower)bottom, in the mean time, back up the trucks and load up. DO NOT WEAKEN OR GET DISCOURAGE or SELL A THIN DIME! our day will come. THE CRIMAINAL CORRUPT BANKERS ARE TRYING TO FLUSH US ALL OUT!  BUY OUR PHYSICAL,then they will maniupluate it to the moon, unless industry comes calling for product first. TODAY, YOU MUST THINK LIKE A NO GOOD ROTTEN BASTARD JAMIE DIAMOND TYPE BANKER  Keep a close eye on Cyprus, they HAVE TO break from the Euro and go back to there own dollar, and the rest will follow. When the President of Cyprus was able to get all his money out during the 11 day holiday along with the other Russian crooks, huh????????? And now Christeen La Garged wants us to pay a $1.40 gas tax?????What’s she smoking?
      Like Sandy Hook, no bullets to find, Like Cyprus, NO GOLD AND SILVER TO FIND!
      PRAY FOR PATIENCE AND TRUST 100% IN THE LORD!

  2. Please excuse my cinisism.
    In a climate where many pundits are calling for an increase in the sale of PM’s, particulaly Silver, and even more are expecting people to “get on board” as the fiat fails – I never expected to read an article griping about increased sales of PM’s especially Silver.
     

  3. Lets see how bad they manipulate the price of silver in the morning. Just so much bullshit! I never thought I would see the day when the United States Allies would turn on them! The biggest crooks are in the United States Government. This is a sad thing to say. However, very true. People can’t believe in the person(s) we elect into office. One lie after another. 

  4. C&P from FB side …
     
    An endless string of lies and manipulation has become government’s standard fare, from the very bottom to the very top. This latest evidence again proves the maxim of America’s beloved Founding Fathers … that government has always been the greatest enemy of The People’s Liberties. As it has, so shall it forever be.

  5. Why is this important?
     
    A couple of coins in a tube do not reflect the price of silver. The silver used to make these coins was purchased a long time ago in my opinion, therefore the sale of manufactured silver objects to the secondary market would be reflective of the price when the metal was acquired in the primary market, not the secondary.
     
    The Mint sales report reflect the demand for silver by the general public in the secondary market which has no bearing on the silver price at all. The people who sell the coins in the secondary markets use the current silver price but for the silver to be relevant in my opinion, it should only be counted in the primary sales of the raw product, not the finished article, else your double counting the silver on the open exchange.
     
    The mint obviously didn’t buy enough raw silver a couple of years ago, underestimating demand. But they need to keep the numbers tight as they have only accounted this year on production to be as based on silver demand when purchased a couple of years back.
     
    For example, I don’t base the price of sugar in the market on a bag of sugar in the supermarkets, this is pure refined sugar. The actual price of the sugar was made at harvest when sold to the refiner.
    In the secondary markets the price is an emerging property, thankfully the laws of economics say that the price is subject to what the market can bare so that the price is always as low as it can be with small margins, in an efficient model at least.

    • Am I missing something?
       
       
      I don’t understand the relevance of sales in the secondary market, reflecting the price of silver in the primary markets?
       
       
      So the demand is high for silver in the secondary market, this to me means nothing. Just means that the populace are worried about the world economy and want to buy silver in the most recognized form possible.
       
       
      How can the sale of Silver coins in the secondary market, which have been priced into the silver price when the raw silver was sold be relevant to today’s silver price?

    • Getting into Palladium was easy and yes the numbers look good, but a mate of mine is trying to shift his palladium bars, been trying to do it for the last couple of weeks, no one is interested in buying the Physical stuff, only looks good on paper as far as I can see.

    • Well here in Europe Palladium enjoys a 19-21% extra premium in the for of VAT. That’s what been holding me back the past months. By the day I feel less smart for sitting it out.
      Is your friend in Europe any time soon? :-)
      Unloading silver isn’t easy either. Not if you want fair value. In my case, I try to sell for a few per cent more than it cost me to get back in. We’re near bottoms in faith in gold/silver. Lots of people are disappointed. Despite the huge sales we’re seeing for at least Eagles. Perth mint supposedly did less stellar for reasons that are beyond me.
      I’m fine with metals being hard to sell right now, as this is the time to buy foremost. Selling should be trading, not getting out.

    • Umicore are the only refiners I have seen that are selling palladium, I called them to put an order in, they bite my arm off, they were that eager to sell. I held back. Call the UK operation there’s a fella there trying to sell some misshaped rounds, he be more than happy to sell them to you :-) 
       
      Off topic, I bought some gold today, saw the drop and went for it. :-) 

  6. With current prices they’re going to be busy for the next coming days. Dealers see premiums going up all the time, they may not want to wait for even higher prices and premiums if sales are steady.

  7. This manipulation of the data is so transparent that they can’t possibly believe it would fool anyone.  I don’t understand what they’re trying to accomplish by doing it.  Seems like they’re deliberately trying to destroy whatever small amount of credibility they still possess.

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