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26th February 2014, 06:54 AM
I stopped by a dealer this past weekend and he showed me a tube of 2014 bullion silver eagles.
He called them first strikes, but I have to say, these were the best minted, prettiest bullion eagles I've ever seen.
He wanted $29.50 for them.
I wonder if the 2014 silver eagles are all like this? If they are, I can see why dealers would be fighting to get their hands on them. Maybe the reason for the near sell out by dealers?
U.S. MINT UPDATE: Silver Eagles Nearly Sell Out In Two Days
Filed in News, Precious Metals by SRSrocco on February 25, 2014 • 14 Comments
The U.S. Mint updated its sales figures today… and it was another whopper. Yesterday, the U.S. Mint sold 825,500 Silver Eagles which was about two-thirds of the weekly allocation.
The U.S. Mint raised the total allocation to its authorized dealers this week to 1,250,000 compared to 750,000 last week. Today, the U.S. Mint sold another 346,000 Silver Eagles for a total of 1,171,500.
This means the U.S. Mint only has 78,500 Silver Eagles available for the remainder of the week.
The total Silver Eagle for February is now 3,671,500:
Not only has this been another excellent month (so far) for Silver Eagle sales, it is an all-time record for February:
FEB 2010 = 2,050,000
FEB 2011 = 3,240,000
FEB 2012 = 1,490,000
FEB 2013 = 3,368,500
FEB 2014 = 3,671,500
I would imagine the authorized dealers will purchase the remaining 78,500 Silver Eagles of this week’s allotment to bring to total for the month at 3,750,000.
Lastly, there is a great deal of LOUSY ANALYSIS in the markets. I just saw Goldman Sachs downgrade Pan American Silver to a “SELL”, because the top-notch institution believes the price of silver is “overvalued.”
If I were to make a comparison here on what is really INSANE in this market… we would have the following figures:
FED Monthly Treasury & MBS Purchases (FEB) = $65 billion
TOTAL VALUE U.S. Mint Silver Eagle Sales (FEB) = $90 million
FEB U.S Mint Sales = 0.13% of Total Fed FEB purchases
http://srsroccoreport.com/u-s-mint-udpate-silver-eagles-nearly-sell-out-in-two-days/u-s-mint-udpate-silver-eagles-nearly-sell-out-in-two-days/
He called them first strikes, but I have to say, these were the best minted, prettiest bullion eagles I've ever seen.
He wanted $29.50 for them.
I wonder if the 2014 silver eagles are all like this? If they are, I can see why dealers would be fighting to get their hands on them. Maybe the reason for the near sell out by dealers?
U.S. MINT UPDATE: Silver Eagles Nearly Sell Out In Two Days
Filed in News, Precious Metals by SRSrocco on February 25, 2014 • 14 Comments
The U.S. Mint updated its sales figures today… and it was another whopper. Yesterday, the U.S. Mint sold 825,500 Silver Eagles which was about two-thirds of the weekly allocation.
The U.S. Mint raised the total allocation to its authorized dealers this week to 1,250,000 compared to 750,000 last week. Today, the U.S. Mint sold another 346,000 Silver Eagles for a total of 1,171,500.
This means the U.S. Mint only has 78,500 Silver Eagles available for the remainder of the week.
The total Silver Eagle for February is now 3,671,500:
Not only has this been another excellent month (so far) for Silver Eagle sales, it is an all-time record for February:
FEB 2010 = 2,050,000
FEB 2011 = 3,240,000
FEB 2012 = 1,490,000
FEB 2013 = 3,368,500
FEB 2014 = 3,671,500
I would imagine the authorized dealers will purchase the remaining 78,500 Silver Eagles of this week’s allotment to bring to total for the month at 3,750,000.
Lastly, there is a great deal of LOUSY ANALYSIS in the markets. I just saw Goldman Sachs downgrade Pan American Silver to a “SELL”, because the top-notch institution believes the price of silver is “overvalued.”
If I were to make a comparison here on what is really INSANE in this market… we would have the following figures:
FED Monthly Treasury & MBS Purchases (FEB) = $65 billion
TOTAL VALUE U.S. Mint Silver Eagle Sales (FEB) = $90 million
FEB U.S Mint Sales = 0.13% of Total Fed FEB purchases
http://srsroccoreport.com/u-s-mint-udpate-silver-eagles-nearly-sell-out-in-two-days/u-s-mint-udpate-silver-eagles-nearly-sell-out-in-two-days/