U.S. mint sold 27 million ounces of silver in July!!

[Large Sarge]

https://www.usmint.gov/about_the_mint/index.cfm?action=PreciousMetals&type=bullion


Holy Shit!!!!


http://www.silverdoctors.com/fact-or-fiction-us-mint-reports-27-6-million-silver-eagles-sold-in-july/

[aeondaze]

Holy Shit!!!!


I know, I was at first shocked, but it HAS to be a typo. Surely.

Each time they have bumper sales they 'claim' to have run out of blanks and then suspend sales. I know they can postpone sales figures and roll it over into the next month, but that is insane.

What are your thoughts LS?

[Large Sarge]

well, record demand for silver globally, so its not an isolated event,

Can the mint produce that much silver?

a million ounces a day?


its HUGE if its true

[mamboni]

27 millions ounces in one month? Unbelievable. Even 2.7 millions would be impressive.

[Large Sarge]

this is off the charts folks,

last year total sales of silver bullion, 33 million ounces, by u.s mint

[aeondaze]

well, record demand for silver globally, so its not an isolated event,

Can the mint produce that much silver?

a million ounces a day?


its HUGE if its true

True, demand is strong and strengthening by the day. Has the Mint got their hands on some of the metal that was pried lose from SLV during the smackdown?

I think they could at a push produce a million a day, but would they ever try, is the decinal place incorect, shoould it be 2.7 m ounces?

They are legally obliged to report correct figures.

[Large Sarge]

COMEX only has 165 million ounces

Remember the interview with tom cloud, about 10 days ago or so (Greg hunter interviewed him)

and he said the wealthy and very wealthy are demanding physical metals, dumping the ETF's, etc at a loss to take delivery


this would fit that scenario

[JohnQPublic]

July is not over. I think 27.6 MM is the total of Jan-June, plus July possibly to date. Then their screwed up program added the total to Jan-Jun and got 53 MM for 2013 total to date.

I added Jan-Jun = 25,043,500

Add 27,575,000 (the supposed July reading) = 52,618,500 (the displayed total).

So the July figure may be the July to date plus Jan-Jun to date.

That would make July to date = 27,575,000-25,043,500 = 2,531,500. This implies a July total of 2,531,500*(31/17) = 4,616,265

[mamboni]

COMEX only has 165 million ounces

Remember the interview with tom cloud, about 10 days ago or so (Greg hunter interviewed him)

and he said the wealthy and very wealthy are demanding physical metals, dumping the ETF's, etc at a loss to take delivery


this would fit that scenario

True enough. But the rich are not buying silver - it's too bulky and heavy. The rich buy gold. The working people are buying silver, a lot of it apparently. This is very good news. The thing of it is, only a small percentage of the population, a few million people, need to buy silver to create a physical squeeze as the silver supplies are so small.

[Atocha]

Demand is high, supplies tight and the d*mn price drops.... Manipulation pure and simple.

[Atocha]

So roughly 5 million ounces a month. I see where SARGE said Comex had 165 million ounces. So just for the Mint, Comex could fill the Mint's requirements for 33 months.. (165,000,000 /5,000,000)... What if the Mint can't get the silver? What happens then?

[Son-of-Liberty]

Nothing really. They just suspend production. They have done it before.

The numbers are a good indicator of overall demand though. Lots of people like to buy eagles but is isn't the only silver being sold out there.

[Large Sarge]

July is not over. I think 27.6 MM is the total of Jan-June, plus July possibly to date. Then their screwed up program added the total to Jan-Jun and got 53 MM for 2013 total to date.

I added Jan-Jun = 25,043,500

Add 27,575,000 (the supposed July reading) = 52,618,500 (the displayed total).

So the July figure may be the July to date plus Jan-Jun to date.

That would make July to date = 27,575,000-25,043,500 = 2,531,500. This implies a July total of 2,531,500*(31/17) = 4,616,265



have to see how the end of the month plays out, it could be a typo, etc

India bought 32 million ounces of silver last month,

so these numbers are not beyond the normal

have to wait and see

[Large Sarge]

they show total yearly sales at 52 million now, so their program is working correctly,

its either a typo, or they really sold that much

[Large Sarge]

plus we can add in the reports from other folks

Folk on July 9th I had heard of the 320,000 oz of gold going buy buy from Brinks!!! That is 70% of their inventory!!!!This is the 2nd largest vault and transport/logistic company outside of Viamat in Switzerland. Now I am hearing that other smaller vaults are being hit as well from Malca Amit in Singapore, G4S in the UK and Rhenus in Germany.

Take this with what I have said and shown about the incredible demand for PM as well the banksters trying to settle the debts and you begin to see a very clear picture. So the trillion dollar question is where is all the gold going? It's going EAST where the golden sun shines ever brightly while the darkness of doom spreads for the inhabitants of the west.

I will post numbers as soon as they are available.

[osoab]

So roughly 5 million ounces a month. I see where SARGE said Comex had 165 million ounces. So just for the Mint, Comex could fill the Mint's requirements for 33 months.. (165,000,000 /5,000,000)... What if the Mint can't get the silver? What happens then?

You would need to look at the planchet suppliers for the mint and what inventory of blanks they are keeping in stock.

[Silver Rocket Bitches!]

a little perspective for you..


5107

[StreetsOfGold]

As of this post July is only half over.