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The US Mint’s frantic silver sales pace continued over the weekend, as the Mint reported 430,000 ounces of silver sales over the weekend on Monday. Perhaps more importantly, the US Mint Silver eagle to US Gold eagle sales ratio continues to exceed 50 to 1, a pace that is simply unsustainable with a current mine ratio of 9 to 1.
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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]
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.
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"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."
http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2012
Silver to gold ounces sold = ~54.87 : 1 ratio.
At an average (over the course of the year) GSR of say, 54, that looks to be roughly even money going into physical gold and silver from the US Mint.
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.
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.
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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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The US Mint has just updated March Silver Eagle sales for the first time since 3/21.
THURSDAY LAST WEEK = 2,438,000
TODAY = 3,356,500
March US Mint silver/gold sales ratio: 60/1!
In the wake of the Cyprus banking collapse, the US MINT HAS SOLD NEARLY 1 MILLION OUNCES OF SILVER IN 4 DAYS!!
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... Is there that much manipulation with the paper stocks?
When the decoupling happens, it's going to be epic.
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
The US Mint has updated April sales statistics for the first time since last week, and to no surprise, the Mint again reported more massive sales, with another 833,000 silver eagles reported sold Monday! The April total through 6 business days is now 1.645 million ounces, bringing the 2013 total to a massive 15.868 million ounces.
In response to the continued massive demand for silver eagles, the mint also has begun rationing sales of silver eagles to primary dealers resulting in supply delays!
Just as was seen in January, tight physical supplies have seen premiums on ASE’s skyrocketing over the weekend and throughout the day, as ASE’s are rapidly becoming as scarce as 90%!
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According to today's data from the US Mint, a record 63,500 ounces, or a whopping 2 tons, of gold were reported sold on April 17th alone, bringing the total sales for the month to a whopping 147,000 ounces or more than the previous two months combined with just half of the month gone.
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US Mint reported a whopping 681,000 ASEs sold Monday, bringing the April sales total past 3 million ounces for the first time EVER at a record 3,068,000 oz.
The Mint has now set a monthly sales record 3 out of the first 4 months in 2013, ...
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The Mint has also now sold an amazing 175,000 ounces of gold in April, a new monthly sales record for April ...
The U.S. Mint has temporarily suspended sales of its one-tenth ounce American Eagle gold bullion coins because of inventory depletion due to strong demand, but continues to offer the one-ounce, one-half ounce and one-quarter ounce coins.
In a memo to its authorized purchases late Monday, the Mint said that gold coins sales in total ounces has been up more than 100 percent year to date over the same period last year.
The U.S. Mint has resumed selling its 2013 American Eagle One-Tenth Ounce Gold Proof Coin at a hefty $195 per coin as of late Tuesday.
In a memo Tuesday to its authorized coin dealers, the Mint has set a 20,000-coin production limit for the one-tenth ounce bullion coin—without a limit per household.
Sales of its smallest U.S. gold coin was suspended by the Mint in late April as year-to-date demand at that point in time had increased by more than 118%. Sales were suspended until inventories could be replenished.
Also on Tuesday, the Mint lifted purchase limits on the America the Beautiful five-ounce silver bullion coins.
Figures on the U.S. Mint gold sales totals site late Tuesday revealed 50,000 one-tenth ounce gold coins have been sold thus far for this month, with a total of 350,000 one-tenth ounce gold coins sold so far this year. This compares to total sales of 315,000 one-tenth ounce gold coin sales for the entire year of 2012.
Meanwhile, a U.S. Mint spokesman told Reuters that the agency will continue to limit purchases of the American Eagle one-ounce silver coins. Sales of the silver bullion coin were suspended earlier this year due to record-breaking demand. Silver American Eagle bullion coin sales have hit 3,458,500 ounces sold so far this month and a total of 21,768,500 ounces thus far since January 2013.
Reuters reports, Richard Peterson - acting director of the US Mint - explains, demand for US gold and silver bullion remains at "unprecedented" high levels almost two months after the historical sell-off
Demand right now is unprecedented. We are buying all the coin (blanks) they can make
US Mint reporting 27,575,000 ounces of Silver Eagles sold in the month of July - roughly 6-7 times normal sales volume. Maybe someone made a typo?
http://www.usmint.gov/about_the_mint/index.cfm?action=PreciousMetals&type=bullion
h/t: http://www.silverdoctors.com/fact-o...orts-27-6-million-silver-eagles-sold-in-july/
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