Apmex Silver

Photo Block Spray to Stop Tickets in the Mail

Tuesday, August 24, 2010

U.S. Silver Eagles All-time Record for July- Mint is rationing Eagles Now

The U.S. Mint needs to buy Silver from Silver mined in the U.S. Currently the Mint is rationing Silver Eagles. We are very close to seeing delays of delivery for eagles first running into weeks and later months. As the delays increase, there will be a disconnect at one point from the Comex and SLV prices to the price of physical bullion. When that hits there will be a mad rush to the physical metal and if just one hedge fund decides to take the Nestea plunge into ownership of cold metal in one's hand, then the game is over and we are talking about Silver at over $100oz moving rapidly up to it's true cost adjusted for inflation price of over $150oz for the actual bullion, not the bullshit paper holdings.

Coming in at 2,981,000 coins sold, the month goes down in the history books as the best ever July for the series that was introduced back in 1986. The old record was hit just last year when sales of the Silver Eagles came in slightly over 2.8 million -- shattering the previous record set in 2008 of only 1.25 million.
The increases over the last three years are a perfect indicator of demand on an annual basis as well. 2008 American Silver Eagles ended the year with a record 19.6 million sold, beating the previous record holder of 2002 by over 9 million coins. While extremely impressive, the 2008 record status only lasted a year and was smashed by the 2009 total of 28.7 million coins sold.
Indications are that the 2009 record will be blown out of the water by this year's numbers. With seven months wrapped up, the United States Mint already shows 21.1 million coins purchased by its dealers. This leaves an average of a bit over 1.5 million per remaining months in the year for 2010 to become the new record holder. Considering almost 3 million were sold in July (a month typically not known for large Silver Eagle volume), it is nearly unfathomable that 2010 would not shoot past last year.
Supporting this conclusion is the current line-up for the top ten months ever for Silver Eagle Sales. Since their debut in 1986, the coins have been available for over 280 individual months. 2010 currently holds five of the top ten monthly sales slots. (July 2010 came in as the seventh best month ever for the coins.)
Making this feat even more interesting is the fact that the U.S. Mint is still throttling the sales of the strikes. Unable to obtain enough blank planchets to keep up with potential orders, the Mint has its network of authorized purchasers on an allocation system, meaning it may ship only a portion of the requested orders based on availability and the buyer's past order history.

The U.S. Civilflag is symbolic of a nation on the Gold/Silver standard under the common law.

For the best Silver supplier over 100oz there is Monex, Paul Bea 800-949-4653 ext 2172
Use Kevin from Goldmoneybill.org as referral.

For small silver purchases, I use Apmex.com

No comments: