Worthless SAE sales reach all time high... please disregard sales figures & sell

[ximmy]

I imagine the US mint offering great deals to their primary dealers in the hopes of lowering the demand for silver. It appears this is one more government failure in progress...

Silver Eagle Bullion Sales Move into Record Territory

For the year to date, the United States Mint has now sold 34,673,500 American Silver Eagle bullion coins, which exceeds the record annual sales achieved last year.

This will mark the fourth consecutive year of record breaking sales for the popular one ounce silver bullion coins.

The American Silver Eagle was introduced in 1986 as a one ounce 99.9% pure silver bullion coin, with its weight, content, and purity guaranteed by the U.S. government. The obverse design features Adolph A. Weinman’s Walking Liberty design used on the circulating half dollars struck from 1916 to 1947. The reverse features a heraldic eagle designed by John Mercanti.


When the coins were first available in November and December 1986, the US Mint recorded sales of 5,096,000. In the following year, when the coins were available throughout the year, sales reached 9,420,000. Annual sales registered lower for the next twelve years, bottoming with annual sales of only 3,466,000 coins in 1996. In 2002, sales exceeded 10 million for the first time and set an annual sales record at 10,475,500.


Demand for Silver Eagle bullion coins rose to new heights in 2008, which resulted in periodic suspensions and order rationing imposed by the US Mint. Despite these obstacles, annual sales achieved a new record at 19,583,500.
In 2009 and 2010, new annual records were achieved at 28,766,500 and 34,662,500, respectively. During these years, the US Mint continued to periodically ration sales to the small group of authorized purchasers that are able to buy the coins directly.


For the current year, sales have reached 34,673,500 with still more than two months to go. Monthly sales have averaged about 3.7 million coins, an amount which exceeds the annual sales totals for two separate years of the program.

http://news.coinupdate.com/silver-eagle-bullion-sales-move-into-record-territory/

[mamboni]

IIRC, SAE production now consumes virtually all US domestic silver annually. The 1986 law mandates that SAEs be produced from domestically mined silver. The US must now import silver.

[JohnQPublic]

Time for Timmy to shut down the coin presses. The law they passed in (2009, 2010?) allows the Sec. of treasury to make a determination that production quantities should be lowered.

[Heimdhal]

Time for Timmy to shut down the coin presses. The law they passed in (2009, 2010?) allows the Sec. of treasury to make a determination that production quantities should be lowered.

that would have the opposite effect. It would skyrocket prices on new production and wouldnt slow down sales in the least. It might shift them more heavily into the numicist markets rather than investment markets, but I doubt we'd see any reduction in demand.

[osoab]

Time for Timmy to shut down the coin presses. The law they passed in (2009, 2010?) allows the Sec. of treasury to make a determination that production quantities should be lowered.


It wasn't just quantities. It was qualities too.

Your thread from then.
http://gold-silver.us/forum/showthread.php?41162-Silver-and-Gold-Eagles-to-be-Axed-by-Timmy&highlight=treasury+silver+american+eagles+qualitie s


(i) (1) Notwithstanding section 5111 (a)(1) of this title, the Secretary shall mint and issue the gold coins described in paragraphs (7), (8), (9), and (10) of subsection (a) of this section, in quantities qualities and quantities that the Secretary determines are sufficient to meet public demand, and such gold coins shall—

search function worked this time too.

[Kali]

I don't believe what our gov has to say about silver.

[Silver Rocket Bitches!]

Maybe they'll start adding zinc to the SAEs. ;D

[ximmy]

Update:

October 27, 2011

http://www.sunshinesilver.com/silver_eagle_coin_mint_rolls-Picture.jpg

With over two months remaining in 2011, sales of the American Silver Eagles [reach] 36,375,500 ounces. If sales of the Silver Eagle for November and December match the levels of 2010, total sales for 2011 should total over 42 million ounces or more than 20% above the record breaking sales level of 2010.

A review of sales by month for 2011 indicate solid fundamental buying by silver investors. Typically, buying of an asset will increase as prices go higher and decrease as prices decline. This was not the case with the American Silver Eagles - despite a sharp sell off in May and September, monthly sales increased as investors took advantage of bargain prices.

http://goldandsilverblog.com/american-silver-eagle-bullion-sales-soar-as-investors-buy-at-bargain-prices-0324/

[ximmy]

Update:

November 22nd.

http://news.coinupdate.com/wp-content/uploads/2011/11/proof-silver-eagle.jpg

2011 Proof Silver Eagles Sold Out

Earlier today, the 2011 Proof Silver Eagles unexpectedly sold out at the United States Mint. The coins went on sale June 30, 2011 and were offered without a stated maximum authorized mintage. The current report indicates sales of 850,000. The proof Silver Eagle was also included in the 25th Anniversary Sets, which sold out of the 100,000 maximum within hours.
----
The strong sales figures should not be trusted... Please sell all your limited value silver now and trade for dollars... the integrity of the dollar will long outlast the limited life span of silver...

http://news.coinupdate.com/us-mint-sales-proof-silver-eagle-sold-out-1070/

[Half Sense]

Maybe they'll start adding zinc to the SAEs. ;D

I wondered about that. I looked at a 2010 SAE and it seemed milkier than the ones I bought in 2004 and 2005. The early ones were nice and shiny like silver, the 2010 looked like aluminum.

[Sparky]

I wondered about that. I looked at a 2010 SAE and it seemed milkier than the ones I bought in 2004 and 2005. The early ones were nice and shiny like silver, the 2010 looked like aluminum.

The Mint purposely went from shiny to frosty after 2005. I prefer shiny.

[ximmy]

US Mint Bullion Sales: New Record for Worthless American Silver Eagles

The annual sales total for Silver Eagles has reached 39,868,500, setting a record for the fourth consecutive year. Starting in 2008, demand for Silver Eagles increased sharply, resulting in periodic sales suspensions and frequent allocation of available supplies. In the ensuing years, the US Mint has managed to increase the number of coins available. Most recently, the Mint announced that they intend to begin accepting orders for the 2012-dated coins


http://news.coinupdate.com/us-mint-bullion-sales-new-record-for-american-silver-eagles-1141/

[BrewTech]

LOL and silver @ 29...

[TomD]

The Mint purposely went from shiny to frosty after 2005. I prefer shiny.

Here are some 2011 versions compared to a 2005 (top center). The 2011 coins are, from left to right, "S" mintmark, "W" mintmark & no mintmark BU.

To me, the 2011's look burnished, I like them. These are from the 25 Anniversary set, don't have any other 2011's to compare them to.

http://i185.photobucket.com/albums/x229/TomD77/SAE4.jpg

http://i185.photobucket.com/albums/x229/TomD77/SAE5.jpg

[Joe King]

Here's an unhappy SAE purchaser. It's just horrible. Gotta watch them women sellers. They'll sell ya milky lookin' "new" coins. lol


http://www.youtube.com/watch?v=RBnkVd2RcPA&feature=related

[EE_]

Here's an unhappy SAE purchaser. It's just horrible. Gotta watch them women sellers. They'll sell ya milky lookin' "new" coins. lol


http://www.youtube.com/watch?v=RBnkVd2RcPA&feature=related

He's just an angry person that's just venting. He needs anger management!
Silver went up 5 bucks after he got them...shut the fuck up dick!

[ximmy]

comments on his youtube page... LOL


http://s.ytimg.com/yt/img/no_videos_140-vfl1fDI7-.png (http://www.youtube.com/user/ManilasMan)


ManilasMan (1 week ago)

DISAPPOINTING EBAY SILVER BULLION PURCHASES

you video: Silver oxidizes you idiot!!! You thought your silver is / was new!?! Sealed or not; Silver is Silver, it will tarnish you Dumbass!!!!
http://s.ytimg.com/yt/img/no_videos_140-vfl1fDI7-.png (http://www.youtube.com/user/drgeek100)


drgeek100 (1 week ago)

sorry dude your video about having bad experiences on ebay...you are whiner man nothing but a whiner..get over it..silver is silver I would hate to do business with someone like you...freakin picky! GET A LIFE!
http://i2.ytimg.com/i/uh-jTMMpojEIDxYos4U0yA/1.jpg?v=a5cc0c (http://www.youtube.com/user/coldkidc)


coldkidc (2 weeks ago)

You should take your vid complaining about the silver you bought on Ebay down or allow comments...it does sound whiney and you ARE being too picky
Silver naturally tarnishes, acquires a patina or gets milky just because - it's totally normal and doesn't affect the value of bullion
You are confusing numismatics and bullion - condition is everything on one and barely matters for the other