As Prices Drop, Gold Sales Explode at US Mint

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Top Tier Gear USA

gold eagles

A little over two weeks ago, a source within the US Mint announced that sales of their silver eagles had grown to the point that the Mint was running out, and would have to suspend all orders for several weeks. This claim was later officially confirmed by the US Mint, and ZeroHedge noted how strange it was that demand for physical silver was peaking at a time when the price was falling to record levels. They also added that other precious metal sellers like the GoldCore, BullionVault, and the UK Royal Mint were experiencing an unprecedented demand for physical gold, but at the time this was easily attributable to the economic crisis in Greece.

But now it’s not so easy to make that claim. The US Mint announced this week that their gold has been flying off the shelves lately, and they haven’t sold this much since April of 2013, which totaled 210,000 ounces. When Reuters mentioned this fact on Wednesday, the mint had sold 110,000 ounces. Just two days later ZeroHedge mentioned that their sales had grown to 143,000 ounces for July. At this rate, their gold sales may match their previous record by the end of the month.

And all of this happened on a day when the gold price reached another 5 year low. Supposedly, lower demand is driving the price down, but there’s clearly an increasing demand for the physical metal. When something as simple as supply and demand doesn’t add up, it’s time to question the legitimacy of the forces responsible for setting the price.

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Contributed by Joshua Krause of The Daily Sheeple.

Joshua Krause is a reporter, writer and researcher at The Daily Sheeple. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshua’s reports at Facebook or on his personal Twitter. Joshua’s website is Strange Danger .

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  • SovereignPatriot88

    I don’t know if it’s a good thing or a bad thing that the price is being manipulated down. On one hand, a low price allows us to buy more. On the other hand, what we already have is worth less.
    Those who are saving it for a reigny day, won’t care about its value until after Federal Reserve Notes collapse.
    Those who are using it as an investment, and hope to sell it for a profit later, are going to have a hard time making money if its value never goes up.

    • Nexusfast123

      Paper gold manipulation is being used to suppress the value of physical gold to try and protect the value of the US Dollar. Makes it more attractive to dump Dollars and buy physical gold. At some point confidence in the Dollar will collapse.

  • breakawaymotorsports .

    All I know is if the federal reserve completely collapses..along with all the other world currencies..gold will still hold value to someone, iincluding myself. I will trade for gold and silver when fiat dies…but not a worthless piece of paper. So..having some physical gold and silver is a pretty safe way to secure some buying power,regardless of it’s ‘worth” in paper. Nuff said.

  • MrAnthill

    May I suggest buying the smaller denomination coins. They are much easier to liquidate. Imagine if gold is $10,000/oz and you have been collecting 1 oz coins only and the alternative is that you need a Zimbabwe wheel-barrow to carry the worthless paper dollars to the store.
    You want to buy a loaf of bread and some milk and a few other things.
    The store keeper says, sorry I don’t have change for $10,000.

    • Gold is the saving account.
      Silver is the pocket money.
      If you want smaller denominations, buy junk silver, but it will come out of hoards when it is highly useful in trade. It is pretty hard to find and running at high premiums right now.

  • James Wood
  • Now is a good time to buy real money to use when the government foists digital currency on us, which will send PMs to the stratosphere.
    Then there are bank runs…

  • Rogoraeck

    Only PAPER GOLD is going down….
    Physical Gold, you have to dig it from the ground.. Lots of hard work.. Paper Gold ? Piece of cake ! Just print more Gold Paper & hope that some stupid goyim schmuck will pay good money for it ?

  • Fleendar the magnificent

    BITFD!!!

    In any case. Silver and gold AREN’T short term investments. If you are buying silver and gold for short term ‘flipping’? Forget it. Silver ISN’T for the faint of heart as it’s a roller coaster, and gold is a fickel bitch.
    PMs are for the long haul. The long term investor who knows that paper money is dead and knows that PMs will be needed.

    Keep in mind that the NWO needs people to pay allegiance to digital money and a cashless society. This is how governments control people. Using money THEY control( think Greece bank holidays), food and water. PMs allow you another medium of trade that doesn’t force you to rely upon ‘the system’, namely, the banks and fiat money.

    We CAN survive this global crisis IF we remember that paper money ISN’T God and that people have survived worse well before paper money.