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Gold and Silver Eagle sales way down YOY

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Jan 2014 Gold 91,500 ounces
Jan 2014 Silver 4,775,000 ounces

Jan 2013 Gold 150,000 ounces
Jan 2013 Silver 7,498,000 ounces
 

TomD

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Though we all "know" to buy low and sell high there is some perverse instinct that kicks in and makes us do the opposite. Herd mentality I guess.

Sure wish I could find some silver at close to spot.
 

Tinbox

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Though we all "know" to buy low and sell high there is some perverse instinct that kicks in and makes us do the opposite. Herd mentality I guess.

Sure wish I could find some silver at close to spot.

Very true, the fact that buying is slowing a little probably is a positive thing for the price of metals.

U.S. mint is also not meeting demand so its kind of hard to say what the true numbers should be.
 

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Very true, the fact that buying is slowing a little probably is a positive thing for the price of metals.

U.S. mint is also not meeting demand so its kind of hard to say what the true numbers should be.

Actually the article I read said the full allotment wasn't even ordered

ETA:
When the US Mint began accepting orders for their initial allocation of 2014 Silver Eagles on January 13, authorized purchasers ordered 3,180,500 coins from total availability of 3,575,000 coins. These opening day sales were slower than the prior year when 3,937,000 coins were ordered on the first day of availability

http://news.coinupdate.com/us-mint-gold-and-silver-bullion-sales-fall-short-of-prior-year-3135/
 

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Also the mint stopped sales on Dec 9,so I was expecting way more pent up demand.. The largest bullion dealer still has lots of 2013 ASE inventory too...

I own a boatload of PM & am in no way liking this info..Investor demand was said to be 24% of total silver sales in 2013..Maybe this is just a blip & or people are ordering other forms of bullion more..
 

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Many of us learned not to try to catch a falling knife. True story. ;)
I just bought about 3% above where we are now (total stack) so lets hope it's stopped falling...
 

Chester-Copperpot

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Many of us learned not to try to catch a falling knife. True story. ;)

Yep, lesson learned. :eek:

neils-cut-hand.jpg%3Fw%3D403
 

TomD

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I just (less than 10 minutes ago) bought a few 10's of ounces of silver. It doesn't bother me that silver may fall further still but at this moment I'd rather have the silver than the (digital) FRN's.
 

southfork

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I just (less than 10 minutes ago) bought a few 10's of ounces of silver. It doesn't bother me that silver may fall further still but at this moment I'd rather have the silver than the (digital) FRN's.

Picked up a bit at the venice coin show this weekend myself, 3 10 ounce jm bars and 9 one ouncers.
 

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I prefer to buy the bounce in hope of a rally. The bounces over the last few years have cost me. I try to maximize return rather than minimize loss. I'm funny that way.
 

2014

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I know what would really make sales take off.. Make a Silver Buffalo
 

Tinbox

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They are already so many buffalo generics.

How about a coin featuring a drone spying on farmers or something along those lines? Would be a better representation of the country in its current state.
 

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I think a govt backed (stamped $) buffalo would be a huge hit..People gladly pay a higher premium for govt issued PM
 

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Jan 2014 Gold 91,500 ounces
Jan 2014 Silver 4,775,000 ounces

Jan 2013 Gold 150,000 ounces
Jan 2013 Silver 7,498,000 ounces

Damn. I was setting my watch by the pumpers and their scare tactics regarding the annual January US Mint press release the past few years that said "SAE sales are temporarily suspended due to all current allocations being sold out." The pumpers subsequently would go on and on ad nauseum about "global silver shortage...US Mint sold out and rationing future orders...long delivery times...you can't find silver anywhere at any price, none...bla bla bla."

Another cherished delusion proven false. This time it's truly different. Someone please let me know what month, day and time it is so I can reset my watch.

:hmpf:
 

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I prefer to buy the bounce in hope of a rally. The bounces over the last few years have cost me. I try to maximize return rather than minimize loss. I'm funny that way.
your a trader, not an investor.
 

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Ahillock

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Another take on things. DYODD.

2014 Silver Eagle Sales Limited By Rationed Blank Supply
Filed in Precious Metals by SRSrocco on February 4, 2014


Sales of 2014 Silver Eagles were restricted in January due to a limited supply of available silver blanks. Silver Eagle sales during January reached 4,755,000 oz, compared to 7,498,000 oz in January, 2013.

According to Mike Unser at the CoinNew.net:

This year’s 2014 American Silver Eagles debuted on Jan. 13, or about a month after the 2013 American Silver Eagles sold out on Dec. 10. United States Mint distributors could not order as many as they wanted, as sales were rationed. The U.S. Mint allocated how many it sold during the first week to fewer than 3.6 million, and then reduced the amount to less than 600,000 for the second week so it could “begin the process of slowly building weekly inventories.” The final week of Silver Eagle sales reached 741,000.

…..The United States Mint now has the capability to fulfill demand, but the limited supply of silver blanks has kept allocation alive. The bureau does not manufacture blanks for silver coins like it does for nickels, dimes and quarters. They are purchased from a select group of vendors who are rationing how many they sell.

Interestingly, the U.S. Mint sold out of 2013 Silver Eagles on Dec. 10th, last year and had more than a month to get the 2014′s up and running. However, the U.S. Mint could only produce 3.6 million by Jan. 13th, 2014, compared to the 3,937,000 oz sold by Jan. 7th, 2013.

Again… according to Mike Unser,

Last year in January, 2013 American Silver Eagle sales reached a monthly record of 7,498,000. The 2013-dated coins debuted on Jan. 7, 2013 with orders of 3,937,000. The Mint had to halt sales temporarily on Jan. 17, 2013 when its stockpiles were depleted. Sales resumed in an allocated basis on Jan. 28, 2013 with rationing in place ever since. The 2013-dated Silver Eagle inventory ran out on Dec. 13, 2013. The month-long dry spell may help in driving January 2014 sales to a new record.

I spoke with Michael White, Public Affairs for the U.S. Mint last week about the decline of 2014 Silver Eagle sales compared to last year. I asked him if the reason for the fall in sales was due to supply or demand. Mr. White did not have an answer and told me that he would return my call in a few days. I still have not received a call, but when I do, I will update this post.

There are two reasons why sales of 2014 Silver Eagles in January were down 2.7 million oz (36%) compared to the same month in 2013.

1) Limited supply of silver blanks from third-party vendors

2) Softer sales in the beginning of 2014​

I also corresponded with James Anderson at Goldsilver.com. He said that the big reason for low 2014 Silver Eagle sales is that Hedge Funds dumped millions of ounces of 2011-2012 Silver Eagles on the wholesale market at the end of 2013.

He went on to say that once the wholesalers worked through this glut of secondary mint supply, the normal monthly orders for the 2014 Silver Eagles would ensue. James believes this might take until March before the market absorbs the extra supply.

Here is a table from CoinNews.net on the total 2014 Gold & Silver Eagle sales for January:

2014-Jan-Gold-Silver-Eagle-Sales.png


If the U.S. Mint released the new 2014 Silver Eagles during the first week of the year instead of the end of the second week, I would imagine sales would have been closer to 6+ million for January.

The Mint recently updated their Silver Eagle sales for February, yesterday:

2014-Jan-Feb-Silver-Eagle-Sales.png


Just as I was getting ready to finish this article, I noticed that the U.S. Mint updated their sales figures once again. Here we can see that the U.S. Mint sold another 234,500 oz in the past 24 hours:

2014-Jan-Feb-Silver-Eagle-Sales-NEW.png


The total Silver Eagle sales so far for 2014 are 5,570,000 oz. It will be interesting to see how the rest on the year unfolds for Silver Eagle demand as weakness continues in the Broader Stock Indexes and financial system.

Lastly, demand for Silver Eagles is stronger than Gold Eagles. So far this year, 5,775,000 oz of 2014 Silver Eagles have been sold compared to 95,500 oz of Gold Eagles (in all denominations). This turns is a ratio of 60 to 1.

http://srsroccoreport.com/2014-silv...eagle-sales-limited-by-rationed-blank-supply/
 

2014

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Do you have a reputable link to where they didn't have enough silver blanks?
 

2014

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2014

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So you just regurgitate something from a sketchy source without fact checking? I love PM's but why is there so much shady stuff going on in PM news?
 

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So you just regurgitate something from a sketchy source without fact checking? I love PM's but why is there so much shady stuff going on in PM news?

Not my job to do the fact checking for you. That is your job. DYODD. "Y" stands for your. "O" stands for own. As in do it yourself as no one will spoon feed you.
 

hernancortes

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The last production indication that Michael White gave was 800K to 1M ase's a week, which is the limit of how many blanks they can secure. Thus the continuing allocation. Between that & the mint's sporadic reporting of sales I don't see how we can guage true demand.
 

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Regardless of what all those articles say, we know/saw what APMEX sold in 24 hours yesterday on EBay without even considering their website. They are just one of the brokers for the mint.
 

2014

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Regardless of what all those articles say, we know/saw what APMEX sold in 24 hours yesterday on EBay without even considering their website. They are just one of the brokers for the mint.

What's your guesstimate on how many?
 

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What's your guesstimate on how many?

It was a little over 150,000, it shows how many were sold so its not a guess :)
 

2014

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It was a little over 150,000, it shows how many were sold so its not a guess :)

So roughly 3.5% of a months mint supply from the biggest dealer on earth in the biggest sale of the year in the biggest pent up demand month of the year..

Color me not impressed

I need to rethink some things... I don't see investment demand being able to hold anywhere near 24% of silver supply
 

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So roughly 3.5% of a months mint supply from the biggest dealer on earth in the biggest sale of the year in the biggest pent up demand month of the year..

Color me not impressed

I need to rethink some things... I don't see investment demand being able to hold anywhere near 24% of silver supply

I consider any physical silver taken off the market by the little guys an added bonus. There's about 200 million ounces of silver that need to be absorbed by the investment community, that is about 4 billion dollars. Would you consider that a lot? The U.S. government spends about 10 billion every single day.
 

Fatboy

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I consider any physical silver taken off the market by the little guys an added bonus. There's about 200 million ounces of silver that need to be absorbed by the investment community, that is about 4 billion dollars. Would you consider that a lot? The U.S. government spends about 10 billion every single day.

Based only on a few posts, I think you may be fighting a loosing battle using facts with "the new guy". I hope time proves me wrong.
 

southfork

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I smell a banker in disguise.
 

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Based only on a few posts, I think you may be fighting a loosing battle using facts with "the new guy". I hope time proves me wrong.

The "new guy" sounds like one of the "old guys."