U.S. Mint Silver Eagle Sales Continue To Be Strong In March While The SLV ETF Sheds More Silver

JP Morgan and its Authorized Participants played a very SAVVY “Accounting Gimmick” to squelch the Silver ShortSqueeze…

 by Steve St Angelo of SRSrocco Report

In March, sales of Silver Eagles continue to be quite strong as investors pay hefty premiums for the highly sought-after U.S. official silver coin.  Also, the U.S. Mint has sold 70 times more Silver Eagles than Gold Eagles in the first eight days of March.  This is nearly three times the ratio of Silver to Gold Eagles sold last month in February.

According to the U.S. Mint’s most recent update, Silver Eagle sales totaled 1,572,000 as of March 8th, while Gold Eagle sales were 22,500 oz.  The chart below shows the total for Jan-Mar over the past five years.  However, the 2021 figures are just for the first eight days of the month.  So we could easily see 11+ million for Jan-Mar 2021.

In March, sales of Silver Eagles continue to be quite strong as investors pay hefty premiums for the highly sought-after U.S. official silver coin.  Also, the U.S. Mint has sold 70 times more Silver Eagles than Gold Eagles in the first eight days of March.  This is nearly three times the ratio of Silver to Gold Eagles sold last month in February.

According to the U.S. Mint’s most recent update, Silver Eagle sales totaled 1,572,000 as of March 8th, while Gold Eagle sales were 22,500 oz.  The chart below shows the total for Jan-Mar over the past five years.  However, the 2021 figures are just for the first eight days of the month.  So we could easily see 11+ million for Jan-Mar 2021.

The iShares SLV ETF current silver inventories of 593.3 Moz is down from its record 677 Moz just a little more than a month ago.

The massive Rise & Fall of JP Morgan’s SLV ETF inventories of 86 Moz since Feb 2nd, is more than the global monthly silver mine supply of 66 Moz.  Indeed, JP Morgan and its Authorized Participants played a very SAVVY “Accounting Gimmick” to squelch the Silver ShortSqueeze.

And, if we look at the Sprott PSLV ETF silver inventories… they have increased by 26 Moz while the SLV ETF declined by 86 Moz.  

Regardless… with the Fed and central bank playbook of issuing more Monopoly Money, Debt, and Leverage in the system, the fundamentals of precious metals, especially silver, only continue to get stronger every day.  Unfortunately, the 99% of investors haven’t quite figured that out yet as they are still RUBBING their LUCKY HIGH-TECH RABBIT FOOT, hoping for higher stock prices.

GOD HATH A SENSE OF HUMOR…

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