I just posted an article yesterday, pointing out how strong the physical sale of silver is from the US Mint and that the amount of dollars flowing into silver in the 1st 9 months equal the amount of dollars that flowed into the silver program in the first 263 months of its existence. Now, I get this from my friend Randa with this great catch!
Yesterday 10/3, the US Mint sold a whopping 737,000 Silver Eagle 1 oz coins in a single day!
To put this number in perspective, in Dec of 2010 with silver in the mid $20′s, the US Mint sold a total of 1,772,000 Silver Eagles FOR THE ENTIRE MONTH OF DECEMBER! Yesterday, on 10/3, with the spot price of silver approximately $31/oz, the US Mint sold 737k Eagles, or 42% of sales for ALL of December 2010!
Sales totals for September are now in as well, at a massive 4,460,500 ounces for the month, the highest monthly sales total since January 2011 (during a massive take-down…seeing the connection here) by nearly 50%!!
If the yesterday’s sales pace is continued throughout the rest of 2011 (not to mention the increase we would see with any further sell-off), the US Mint Silver Eagle sales would be nearly 50 Million ounces for the LAST QUARTER OF 2011!
In 2010, the US Mint sold a record 34.662 Million Silver Eagle 1 oz coins.
You sure you want to challenge $20 Blythe?
What will daily Silver Eagle sales look like then? 1 M oz? 2 M oz? 5 M oz?
2011 Silver Sales Totals (in ounces / number of coins)
( oz. / #coins )
October 737,000 That is ONE DAY!
Also keep in mind that the same day people bought $25,000,000 dollars of silver in one day, the government spent $47,000,000,000 more than it took in on that same day. Dramatically higher silver is coming with more dollars that come into circulation and the further the loss of confidence in the dollars that are in circulation. Oh yeah, China that is holding trillions in our debt is threatening a trade war with us. Go dollar!