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U.S. Silver Eagles Experience Record Sales for the Month of March

By admin 4 years ago 950 Views 4 comments

1oz_Silver_Eagles_2014

Janet Yellen’s now infamous rate-hike slip up has done some serious damage to the precious metals market. This one simple statement has caused both gold and silver to break serious resistance levels in the weeks following.

Most notably hurt by this ambiguous announcement was silver, which is down 7.6% since the her remarks were made. Adding further pressure to the silver market is the ongoing slowdown in China. Forget the fact that this so called slowdown still leaves the GDP growth of the country at levels in which the United States would be frothing at the mouth to have.

In spite of this push down in paper prices, or possibly because of this push down, bargain hunters of the real physical commodity have been coming out in droves to acquire silver. The US Mint has once again reported a record breaking number of sales for the month of March.

Full month numbers have yet to be released, but already sales of the US Mint’s Silver Eagles stood at a whopping 4,476,000. Once the finalized numbers for the month of March come in, it is quite possible that the previous record, which was made in January, could be shattered.

Despite these record breaking numbers for 2014, I repeatedly see a negative number being punted around. That is, that year over year, sales of Silver Eagles are down 9%.

An important fact that many journalists are choosing to leave out is that sales of silver eagles have been rationed this year by the Mint, due to the incredible demand and reduced supply. Also, the US Mint did not begin sales this year until the end of the second week in January.

Given these two facts, it is very likely that sales of Silver Eagles would not only be up, but quite substantially. It comes as no surprise to me and many of my readers that the news is being reported in this manner.

It is just another example of the strategy of choice by those who would like to see the precious metals painted in a negative light. It is simply more MOPE.

Record Silver Sales in March for the U.S. and Perth Mint | Sprott Money Blog 3 years ago at 10:15 PM
[...] results are in. As previously reported, the United States Mint was on track to break previous records for sales of its American Silver [...]
March a Record-breaking Month for American Eagle Silver Coin Sales | Silver Investing News 3 years ago at 10:15 PM
[...] some light on why American Eagle silver coins sold so well in March, Sprott Money Blog identifies low silver prices caused by the US Federal Reserve’s statement that it ”may consider [...]
| March a Record-breaking Month for American Eagle Silver Coin Sales 3 years ago at 10:15 PM
[...] some light on why American Eagle silver coins sold so well in March, Sprott Money Blog identifies low silver prices caused by the US Federal Reserve’s statement that it ”may consider raising [...]
Perth Mint & US Mint See Record Silver Demand on Global Uncertainty – Nathan McDonald – Sprott Money News 3 years ago at 10:15 PM
[...] Mirroring these results and proving that it is not a one-off event, was the United States Mint, which also seen record breaking sales in the month of March. Sales of their American Silver Eagles topped a staggering 5.3 million ounces. It is being reported that major bullion dealers are buying all available production. [...]
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