US Mint sales of gold and silver

bushi

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yeah, it seems logical, that one is the exact inverse of the other - one would expect, that pure supply/demand dynamic would establish price ratios that way.

I was getting that feeling recently, that the historical GSR, as we often refer to (in the region of twenties), is not necessarily something that is apropriate nowadays - had seen some good article on Seeking Alpha, that the current GSR is quite appropriate to current supply in these two metals. It seems to confirm that.
 

pmbug

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Consider that this is just sales from the US Mint - a window on (physical) investment demand. It would be interesting to see a similar window on industrial demand for physical silver versus gold.
 

ancona

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I don't have any more faith that the mint is telling the truth than I do of the Fed telling the truth. They are all GovCo liars.

[...and their pants are all on fire]
 

pmbug

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pmbug

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The U.S. Mint reported annual American Eagle gold bullion sales dropped in 2012 from 1 million ounces in 2011 to 753,000 ounces last year.

However, December 2012 gold sales increased to 76,000 ounces, up from 65,500 ounces in December 2011.

Annual sales of American Eagle silver bullion coins totaled 33,742,500 ounces in 2012, down substantially from the sales of 39,868,500 ounces in silver bullion coins reported by the Mint in 2011. Nevertheless, December 2012 American Eagle silver bullion sales were the third highest in the Silver Eagle’s history.
...
http://www.mineweb.com/mineweb/content/en//mineweb-silver-news?oid=168530&sn=Detail
 

ancona

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PMBug, I think 2013 will se some epic shifts in the PM markets and PM miners. I have read several articles speaking about hedge funds and large investing entities starting to dip in to teh pool of miner stocks lately. It has been a pretty quiet move that to me at least, makes me think we shall see some material price movement, perhaps even in this quarter.

I sure hope so.
 

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US Mint sales impress..

http://www.caseyresearch.com/gsd/ed...ernment-admits-its-war-gold-and-wages-it-open

"The U.S. Mint had a rather strange, but eye-opening, sales report yesterday. They sold an absolutely stunning 50,000 ounces of gold eagles...along with an equally impressive 8,000 one-ounce 24K gold buffaloes...but zero silver eagles. If you're wondering how this can be possible on the first sales day of the new year, it's my guess that these gold sales actually occurred in December, but were pushed into January in order not to make the sales month look as good as it obviously was.

The bullion dealers all over the U.S.A. were reporting almost record sales figures in December...and the U.S Mint sales in gold, although strong, didn't come close to matching the rhetoric from the dealers. Now I know why. When we see the first true sales numbers in January for gold...and especially silver eagles, they should be equally as impressive. However, I find it very disturbing that the mint is now obviously playing games with their sales numbers. But, having said that, this is the third December/January time period in a row where I've seen them shove December sales into January. You have to wonder if there's any adult supervision going on at the mint."
 

superhero

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DoChenRollingBearing

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Happens to me all the time superhero!

2013 promises to be an exciting year of buying more gold. As long as the income comes in (and I do not get it all taxed away...), I'll be showing up at my local coin shop.

Since our FECKLESS POLITICIANS keep screwing us, I do not see alternative to buying PMs. That would include Pb and related...
 

superhero

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My ratio was 25:1. Bought 50 silver maples and 2 gold ones yesterday.

BTW, as expected, prices dropped right after I bought.

Ugh.
Double ugh as prices keep dropping.

POG currently $40 below purchase price, POS $1.50 below purchase price.

:flushed:
 

DSAbug

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Double ugh as prices keep dropping.

POG currently $40 below purchase price, POS $1.50 below purchase price.

:flushed:
What has changed? Were you planning on selling today?

<slap>

Don't look at your P&L. Unless you are a trader that is... :)
 

pmbug

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Sales of 1-ounce silver and gold American Eagle coins are soaring as market prices for the precious metals drop.

In fact, February sales of gold Eagles from the U.S. Mint were up 240 percent year over year, with sales of silver Eagles up 126 percent from February 2012 to 2013. The total number of troy ounces of gold sold during the two months in the form of Eagles was 230,500. For silver, the total was 10,866,500.
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“January and February for us were record type months,” Haynes said. “Our volume is extremely good; the physical markets are alive and well.”

It's APMEX Bullion Center on eBay had two of its top selling days ever in February, he said, and was frequently among the top 10 sellers on eBay.
...
While gold and silver Eagles are the most popular 1-ounce bullion coins in the U.S., Haynes said they by no means make up 50 percent of sales. Canadian Maple Leaf gold and silver coins also sell well, he said.

“A lot of people like Australia’s Kangaroo. It has a low premium over gold content. If you compare the Kangaroo and the Eagle, the Kangaroo is a little less expensive,” he said.

The Krugerrand is popular, but probably comes in at No. 4, he said, while in Europe it would rank first or second.
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http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=26694
 

pmbug

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Valyn

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Ok, I know I'm the FNG around here... but I thought when demand for these commodities went up, then the prices went up as well? Is there that much manipulation with the paper stocks?
:shrug:

Val
 

DCFusor

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I've been contributing to the demand for phys - not huge, of course. But I think, though my "system" doesn't say "trade paper long" right now, that it will soon, and this is fairly close to a bottom on gold - we're near the most recent support, a little room under, a lot over where we are now. And it's been gold and silver eagles. I'm going slow as we might drop a bit more to what I see as the real support level, but I'm still going.

Mouth=money, on this one.
 

Unbeatable

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When the decoupling happens, it's going to be epic. :paperbag:
There is an absolutely massive decoupling coming soon. Too soon I think

Excluding other uses (Jewelry & Technology) there about 40 million ounces of gold available annually for investment (Incl. Mined & recycled), so about 10 million ounces every 3 months. So the 246 000 ounces the US mint has sold so far (2.5% of the total) might be manageable for a little while especially if they are dipping into US gold reserves.

However with silver, (excluding industrial and Jewelry) there is only 300 million ounces of investment silver available a year (Incl. Mined & recycled). Or 75 million ounces every 3 months...

The US mint has already sold 14.2 million ounces this year, that's nearly 20% of globally available investment silver for this period just on silver eagles. It simply isn't sustainable, especially as there are also no stockpiles of silver & the Southern Europeans are probably buying by the boatload.
 
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