The US Government Doesn’t Want You to Know There’s a Run on Silver Bullion

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silvercoinfix

It looks like the entire world is spitting out gold and silver as an investment or hedge, as the prices of both precious metals were tumbling in the past few weeks. Well, at least the demand for gold and silver ‘paper’ isn’t anymore what it used to be, but the demand for physical silver is really booming.

Reports have reached us from Germany that the demand for silver is really surging, and this is an interesting sentiment meter because Germany usually acts as one of the main distribution centers for the European Union. Several large bullion dealers have seen the demand for silver increase, and in just the next few days after last week’s crash, almost all dealers sold as many silver coins in just three days as they usually do in an entire month.

Now you can try to dismiss this easily by saying that the Germans and the rest of the European Union are simply preparing for an upcoming implosion of the Eurozone, but that couldn’t be further from the truth. The US Mint recently had to announce that there were no more silver Eagles in inventory, and that it would have to suspend deliveries for new orders. This announcement hasn’t been made public (why not, US Mint? Are you trying to keep the people dumb?) but was only sent to larger bullion dealers in the USA.

US-Mint-Silver-Sales

Source: US Mint

So did the US Mint miscalculate its production rate or was there effectively a surge in demand? Well, the previous image proves it’s the latter. The sales number of Silver Eagles in October almost TRIPLED from the August level and in just the first few days of November (there were only 3 trading days before the US Mint ran out of coins), another 1.26 million ounces were sold, and this brings the total year to date at 39.3M (and it’s quite certain last year’s sale number of 42.675M will be surpassed). We see the same demand increase in gold (see the next image), as the Mint sold more gold in October alone than in July and August combined. And here again, in just the first few days in November, the Mint already sold more gold than in several previous months and it looks like November will end on the second place in terms of demand per month.

Gold Coin Demand US Mint

Source: US Mint

A cheap argument would be that it’s the Europeans who are accelerating their purchases of Silver Eagles. That’s incorrect, as people usually buy silver Maple Leafs and Australian coins and not as much Silver Eagles which have a higher premium over the pure silver value. So this demand for the Silver Eagles (and renewed demand for the Gold Eagle coins) is coming from the USA itself and NOT from foreign demand.

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  • don’t binge buy. don’t dump you’re entire stack. Don’t short preps, necessities, bills, or anything else to stack… make a reasonable plan (budget) and stick to it. slow and steady always wins the investment race. Started keeping pre-64 silver when I was 10 and silver per oz was less than a few dollars. Yes, I continued to buy when it was $30. Did I lose out a bit when it came down to $15? sure. Still way up overall compared to the USD, and compared to the true price of hard goods and not fiat dollars, I’m well ahead of inflation.
    Don’t panic.

  • jim_robert

    The *only* people who still think there no scam going on with paper gold and silver are the “Yes we can/Yes we have no bananas” chanters

  • Fleendar the magnificent

    I was buying silver when it was $33 an ounce. Do I regret it? Nope. The government’s plan of duping people into staying in the fiat money game is dying as more and more people realize that those who hold only paper LOSE when the music stops.
    This is why China is buying SO much gold. Precious metals is where the store of wealth is. Not paper money.

    Hold on. It’s going to get rough…

    • Hammerun

      I’m with ya, I did the exact same thing. My average is at $28.50. Im down a bunch! There is one way to test the validity of this author. I’m going to call Monex tomorrow and see what the availability of eagles, maples and philharmonics are.
      My guess is that they are ready for delivery.
      We’ve heard this spook and doom shit before, remember.
      Never a lesson learned so well, as the one that was paid for dearly!

      • William Keith Lopez

        The mint ran out – dealers have plenty,but guess what – your premium increases. You might be used to paying around $3 an ounce extra for silver Eagles, look now and you’ll see it’s closer to $5.50.

        • Hammerun

          I just spoke to Monex and yes indeed the mint is down ” due to the end of the present Eagle production run”.
          They have eagles for delivery out of Delaware. Theres no shortage for right now, however though (this might be a sales pitch) where have you been? People have been buying on the low, wanna buy a hundred???

  • William Keith Lopez

    The U.S. government doesn’t want you to know this so bad, that every msm outlet has reported the run on siover Eagles. This isn’t a secret.

    If you follow silver, months ago it’s targeted price was being predicted to be around $15.80/oz.

    For people who buy silver $15.30 seems like a bargain as it had been going for around $18-20/oz

    The only problem with buying U.S. silver Eagles is the per coin premium price kills your investment.

    Silver this morning: $15.67/oz
    1 One oz. US silver eagle $20.27

  • Yup, that’s what I meant by “Still way up overall compared to the USD, and compared to the true price of hard goods and not fiat dollars, I’m well ahead of inflation.”. I did have to lay out the cost per USD for those who insist on judging the market as up or down based on that.

    Funny, isn’t it that 1oz silver still buys the same anoint of hard goods as it did 70 years ago, isn’t it?