Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Silver Bug

Like Tree5Likes
  • 2 Post By DSAbug
  • 1 Post By DSAbug
  • 1 Post By DSAbug
  • 1 Post By PMBug

Reply
 
LinkBack Thread Tools
Old 01-10-2012, 11:43 AM   #1
Moderator
 
Join Date: Oct 2011
Posts: 1,059
Liked: 459 times
US mint sell 8% of 2011 volume in a day

http://silverdoctors.blogspot.com/20...er-eagles.html
Quote :
US Mint Sells 3.2 Million Silver Eagles First Business Day of 2012!!!
United States Mint logo
Did the US Mint just 'fat-finger' their Silver Eagle sales totals for the first business day of 2012!?!
On the first business day of October, we alerted readers that the US Mint sold an astounding 3/4 million ounces of silver in a single day.
Well, the US Mint shattered this total today, selling 3,197,000 Silver Eagles, nearly 10% of the 2011 record sales total of 39.8 million ON THE FIRST BUSINESS DAY OF 2012!!!
That is not a typo, you read that correctly.
The US Mint today sold 3.2 MILLION Silver Eagles, nearly the COMBINED TOTAL for all of November and December combined, and higher than ANY MONTHLY TOTAL since September 2011!
To put this number in perspective, the US Mint's Silver Eagle sales totals for the 1st business day of 2012 were 50% of the January 2011 record MONTHLY sales total of 6.4 million, and greater than the MONTLY totals for March, April, July, October, November, and December during the Mint's sales record 2011 year.
3.197 million ounces in a single day!!!!!
Apparently when Americans log into their computers after a 2-week holiday and see the price of silver in the $26-$28 range they raid the US Mint shelves (via Gainesville, APMEX, and local shops) like the gaming crowd on the first day of the Play Station 4 release!



2012 Silver Sales Totals (in ounces / number of coins) Month One
( oz. / #coins )
January 3,197,000
3,197,000
Total 3,197,000
3,197,000


Compare to 2011 Sales totals:

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
May 3,653,500
3,653,500
June 3,402,000
3,402,000
July 2,968,000
2,968,000
August 3,679,500
3,679,500
September 4,460,500
4,460,500
October 3,064,000
3,064,000
November 1,384,000
1,384,000
December 2,009,000
2,009,000
Total 39,868,500
39,868,500

Last edited by DSAbug; 01-10-2012 at 11:46 AM.
DSAbug is offline   Reply With Quote
Old 01-10-2012, 11:51 AM   #2
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
I saw that too DA, but Harvey Organ postulates that tehy simply rolled a bunch of December sales in to January so they wouldn't have to admit to ultra record smashing sales of silver and gold.

I for one, would not be surprised the least little bit.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 01-10-2012, 11:57 AM   #3
Moderator
 
Join Date: Oct 2011
Posts: 1,059
Liked: 459 times
I don't see the benefit to letting all these sales go off on a single day. Hell.. the 1st week had 4 million so we've already crossed the 10% mark. If sales keep up this kind of pace the physical market will start to force the paper market higher.

Either way... i'm glad i went all in.. Sometimes you just feel it's right.
ancona likes this.

Last edited by DSAbug; 01-10-2012 at 12:00 PM.
DSAbug is offline   Reply With Quote
Old 01-10-2012, 12:07 PM   #4
PM Bug Supporter
 
DoChenRollingBearing's Avatar
 
Join Date: Oct 2011
Location: SE USA
Posts: 1,275
Liked: 691 times
Great work derek! Keep us up to date if these very high sales continue.
DoChenRollingBearing is offline   Reply With Quote
Old 01-10-2012, 12:08 PM   #5
Yellow Jacket
 
Join Date: Oct 2011
Posts: 2,053
Liked: 925 times
January 2011 was the biggest month for that year, too.
Maybe people are selling their Christmas gifts for silver
swissaustrian is offline   Reply With Quote
Old 01-10-2012, 12:12 PM   #6
Moderator
 
Join Date: Oct 2011
Posts: 1,059
Liked: 459 times
Originally Posted by swissaustrian View Post:
January 2011 was the biggest month for that year, too.
Maybe people are selling their Christmas gifts for silver
I think it's because people want the new version of the coins.

IE.. You probably wont wait for the 2013 panda if you are looking to buy in June. Someone who is looking to buy in November probably is...

That's normal behavior IMO..
swissaustrian likes this.
DSAbug is offline   Reply With Quote
Old 01-10-2012, 12:56 PM   #7
Yellow Jacket
 
Join Date: Oct 2011
Posts: 2,053
Liked: 925 times
Originally Posted by dereksatkinson View Post:
I think it's because people want the new version of the coins.

IE.. You probably wont wait for the 2013 panda if you are looking to buy in June. Someone who is looking to buy in November probably is...

That's normal behavior IMO..
I see where you´re coming from.
But shouldn´t people monitor prices first?
Coincidently, the big run from $ 20 to $ 49 had a little correction in January 2011. Maybe people were buying the dip?
swissaustrian is offline   Reply With Quote
Old 01-10-2012, 01:12 PM   #8
Moderator
 
Join Date: Oct 2011
Posts: 1,059
Liked: 459 times
Originally Posted by swissaustrian View Post:
I see where you´re coming from.
But shouldn´t people monitor prices first?
Coincidently, the big run from $ 20 to $ 49 had a little correction in January 2011. Maybe people were buying the dip?
There are always corrections along the way... ALWAYS... I wouldn't be surprised to see today's gap up filled at some point either.

IMO... Funds and investors in general are waiting for the dips to add. Same way I was buying when gold was down huge, other people do the same thing. Everyone has a different comfort level. Sometimes people want to see certain levels taken back on a closing basis, a higher high.. a higher low etc..

Eventually, my strategy wont work anymore. The downswings will be less violent much like how it was for people buying tech stocks back in 96-99. Eventually, it will get to that mania phase. At that point it will be very hard to be willing to let go of your gold/silver.
DSAbug is offline   Reply With Quote
Old 01-10-2012, 01:48 PM   #9
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,017
Liked: 2444 times
The big online dealers were taking pre-orders for 2012 ASEs all December (at least). I imagine they placed their orders to the US Mint on the first available business day in January commensurate with their pre-sales data. 2011 ASEs were sold out roughly in mid-December if I remember correctly.
white&yellow999 likes this.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 01-11-2012, 03:34 AM   #10
KMS
Moderator
 
Join Date: Oct 2011
Location: Cheesehead Land
Posts: 374
Liked: 119 times
I know that wholesalers and coin/bullion dealers that the Mint sells to get their ASE at $2 over spot. However, if Average Joe wanted to buy one ASE today it would cost him 45.95 direct from the mint. Personally, I think it is wrong that they can be allowed to charge what they do, therefore forcing us to use a 3rd party to get their product.
__________________
“The first panacea for a mismanaged nation is inflation of the currency; the second is war.
Both bring a temporary prosperity; both bring a permanent ruin.
But both are the refuge of political and economic opportunists.”
– Ernest Hemingway

If voting made any difference they wouldn't let us do it - Mark Twain
KMS is offline   Reply With Quote
Old 01-11-2012, 07:40 AM   #11
Predaceous stink bug
 
white&yellow999's Avatar
 
Join Date: Nov 2011
Location: USA
Posts: 239
Liked: 98 times
Quote :
The big online dealers were taking pre-orders for 2012 ASEs all December (at least). I imagine they placed their orders to the US Mint on the first available business day in January commensurate with their pre-sales data. 2011 ASEs were sold out roughly in mid-December if I remember correctly.
Hit the nail on the head. I think this had the biggest part to do with it... but I feel there were also some other factors, i.e., price drop, dealers buying the dip for inventory, and probably back orders from the holidays. Even if the number is slightly inflated it's still impressive. That's a lot of monster boxes.

Quote :
Maybe people are selling their Christmas gifts for silver
Execpt for a very small percent of people, the sheeple in the U.S. are more content with there iPhones, Flat Screen T.V.'s, and tablets to trade them for silver (or gold for that matter), or even consider buying silver with any cash they got as a present. But a very optimistic thought SA.
white&yellow999 is offline   Reply With Quote
Old 01-11-2012, 08:12 AM   #12
Moderator
 
Join Date: Oct 2011
Posts: 1,059
Liked: 459 times
It's not joe public buying up this silver. It's people who "get it". Look at how well Ron Paul is doing in the primaries. I bet you 1/2 of those people at minimum have been actively buying gold and silver.
DSAbug is offline   Reply With Quote
Old 01-13-2012, 06:27 AM   #13
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,017
Liked: 2444 times
Quote :
... Bill Haynes, President and owner of CMI Gold & Silver had this to say about the situation: ...

“I’m shocked by the demand for eagles. As an example we just had a buyer who picked up $1.5 million of one ounce silver eagles and that’s all he wanted -- the eagles. The significant thing I’m seeing here, Eric, is there is next to no selling by retail customers. It would appear the gold and silver, held by the public, is in extremely strong hands.

People who are buying these metals are buying and they are holding on. To me this is an indication we are still in the very early stages of a precious metals bull market. This is especially the case for buyers of silver eagles, they buy and they hold. They simply do not come back into the market to sell....
http://kingworldnews.com/kingworldne..._Shocking.html
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 01-13-2012, 07:34 AM   #14
Moderator
 
Join Date: Oct 2011
Posts: 1,059
Liked: 459 times
LOL who would buy 1.5 million of 2012 american eagles? That's crazy
DSAbug is offline   Reply With Quote
Old 01-13-2012, 07:50 AM   #15
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,017
Liked: 2444 times
Crazy like a fox.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Review: Northwest Territory Mint white&yellow999 Marketplace 24 05-24-2016 06:34 PM
Official Mint Silver Sales Surpass Domestic Silver Production in US & Canada in 2011 PMBug Silver Bug 5 04-05-2013 06:44 AM
Gold outperforms ALL major stock markets in 2011 swissaustrian Gold Bug 6 01-17-2012 10:17 PM
Big volume on the DOW today ancona Fiat Ponzi 5 12-16-2011 03:38 PM
FOFOA article: MF Global, paper hedging, buy-sell spread Unobtanium PM Bug 3 12-13-2011 11:44 AM


All times are GMT -5. The time now is 09:44 AM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.