After selling an all-time monthly record of 7.498 million Silver Eagles in January, the US Mint has picked up right where it left off in February once it began reporting sales figures again, announcing nearly 3/4 of a million silver eagles were sold Monday.
The Mint has now sold a whopping 8,173,500 silver eagles during a mere 17 business days in operation during 2013, nearly 25% of the entire annual sales for 2012 of 33 million!
| Month | One ( oz. / #coins ) |
|---|---|
| January | 7,498,000 7,498,000 |
| February | 675,500 675,500 |
| Total | 8,173,500 8,173,500 |
The 8.2 million Silver Eagles sold during the mere 17 business days that the US Mint has been open in 2013 equal over 24% of the Mint’s entire 2012 sales of 33 million ounces!
| Month | One ( oz. / #coins ) |
|---|---|
| January | 6,107,000 6,107,000 |
| February | 1,490,000 1,490,000 |
| March | 2,542,000 2,542,000 |
| April | 1,520,000 1,520,000 |
| May | 2,875,000 2,875,000 |
| June | 2,858,000 2,858,000 |
| July | 2,278,000 2,278,000 |
| August | 2,870,000 2,870,000 |
| September | 3,255,000 3,255,000 |
| October | 3,153,000 3,153,000 |
| November | 3,159,500 3,159,500 |
| December | 1,635,000 1,635,000 |
| Total | 33,742,500 33,742,500 |
The Mint has sold 150,000 ounces of Gold Eagles year to date, meaning the Mint continues to sell approximately 55 times the volume of silver to gold, while the 2012 silver to gold mining extraction ratio was approximately 9 to 1!
How much longer can the paper market shenanigans result in a market distortion of 1 to 1 ratios of investment dollars going into physical silver as well as gold without an eventual explosion of the silver price to the upside as free market forces take over?
| Month | One ( oz. / #coins ) |
Half ( oz. / #coins ) |
Quarter ( oz. / #coins ) |
Tenth ( oz. / #coins ) |
Total ( oz. / #coins ) |
|---|---|---|---|---|---|
| January | 124,500 124,500 |
8,500 17,000 |
6,000 24,000 |
11,000 110,000 |
150,000 275,500 |
| February | 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
| Total | 124,500 124,500 |
8,500 17,000 |
6,000 24,000 |
11,000 110,000 |
150,000 275,500 |
FEBRUARY 6, 2013 BY THE DOC - Silver Doctors
