October Silver Eagle Sales Set A Monthly Record

1.4 million silver eagles were bought by investors in the last two days of October, setting a new one-month sales record (real analysts do not count January 2013’s 7+ million tally because the Mint suspended sales in early December 2012, effectively pushing December’s demand into January).   5,790,000 silver eagles were snapped up (LINK).  This was 88% more than October 2013.  38% more gold eagles were sold in October than in October 2013.

Contrary to the false narrative being spread by the financial media, the manipulated sell-off in the precious metals using fiat paper futures is triggering record investment demand for physical gold and silver.   In chatting with some coin dealers around Denver this past week, they all said that there were having trouble keeping silver eagles in stock.

While there’s no way to predict how much longer the Fed and its agent banks can keep pressure on this sector by bombarding the market with paper gold and silver, the demand for physical metal is intensifying here and in Asia.  Gold is being withdrawn from the Shanghai Gold Exchange at a torrid pace and recall that 90% of the physical silver has been removed this year from the Shanghai futures exchange (LINK).

With the above ground physical supply of silver disappearing from sight, at some point investors will come to realize that silver in the ground is a lot more valuable than it is being valued in the stock market currently.   I have written a new research report on a silver explorer/producer that I believe is currently undervalued even with the price of silver at $17.  Furthermore, it is significantly undervalued relative to the amount of silver it will likely uncover on the properties it already owns.  You can access this report HERE or here:


The Company has been ramping up its mill capacity and production during Q4.  In my conversations with management, it is clear that they are working to exceed current production and sales guidance for Q4.   They have also been drilling on a property adjacent to their existing mine (management thinks it could be a “twin” of the current property) and should be releasing results sometime in November.  If the results are good, which I expect, and if silver starts to recover, the stock will spike.

This is a “de-risked” silver producer which went free cash flow positive during its 3rd quarter, will ramp up its production significantly next year and has one of the lowest cost per ounce cost structures in the world for a silver producer.  It makes money down to $12/oz. silver!  We added to our position in the fund during the last two days.

6 thoughts on “October Silver Eagle Sales Set A Monthly Record

  1. Regarding the violent pricedrops in Silver and Gold recently, I might have a possible explanation.
    What if “they” are preparing for a Comex failure to deliver very soon? Very soon like before the Swiss gold poll this month. All the paper shorts then will have to pay for their paper 100 times physical available short position is the current (last?) price with a small mark up , I don’t know exactly how small, but a relatively small mark up in comparison with the “real” worth (like if they wouldn’t have naked shorted it in the first place).

    What do you say? Does it sound anywhere near logical?

  2. A Specter is Haunting Europe

    A pair of unsettling realities is now dawning on the markets: First, that all the major developed economies are facing their own “lost decades;” and secondly, that Abenomics is failing, implying that there may be no exit from such long-term structural conditions.

    Accordingly, nominal 10-year yields in the U.S., like those in Japan and Germany, are in an inexorable long-term secular downtrend, reflecting the looming lost decades, and entirely consistent with our original “yo-yo years,” thesis, alternatively labeled as the new normal (deleveraging) and secular stagnation.


    With PM’s getting lower in price and the market’s instability, I’m not surprised at this.

    I’m waiting for the bleak Black Friday report. A tailspin of some sort is soon to happen!

  3. bonds most overrated over blowed bubble in history, especially given the amounts issued (FV tens of trillions).

    if dollah so good, why all the extra zeros in 30 years–why did it take a measly $1B (paid back) to bailout chrysler 1980, a few hundred billion 1990 S&L crisis, yet 2008 it took trillions USA alone to “save” the system?
    it’s such a mutant abomination it shows up in the fed’s own money charts, reserves etc.

    fact is, even by armstrong’s fave numbers, the $USB &UST barely chugged to their appointed time finish line without collapsing entirely.

    he uses 224 yrs lots, & look where first ever USA debt was issued–sep/1789 right after official Constitution early 1789, when $USD officially defined also came in.
    makes sense for any gov when they get into power, immediately go into debt!

    so go forward 224= sep/2013. well, bonds peaked absolutely mid-2012, but worse if u look at strength indicators (D, W, OR M) like MACD, TSI, RSI, etc, the $USB peaked in fall/2011, a mere 222-years on almost exactly.

    nowhere close to strength since.

    that 222 is of course a triple deuce, & likely ties in to their numerology they use in their black art of counterfeiting.

    or again, using another fave number, go 10 PI years from the early 1980’s inflation burnout (went to simmer only) 1981.8 $USB low when rates hit 15%+, you get also 2013.2, again short of sep/2013 & well short of fall/2011 real peak.

  4. Gold and silver are nothing more than wealth protection. Some say insurance.

    An ounce of gold sixty years ago would cost you about $36.00 So, for the price of an ounce of gold you could buy 12 barrels of oil.

    Today? You can still buy 12 barrels of oil with that same ounce of gold. It holds it’s value over time. The $36.00? It won’t even fill your tank with gasoline from empty!

  5. On the weekend King World News had an interview with Eric Sprott and
    Sprott was asked what development would scare him the most. Sprott
    replied a silver failure to deliver on the Comex which would mean all
    accounts would be settled in cash so longs that want to take physical
    delivery would be left with nothing but paper and settlement would be
    at current heavily discounted prices. From that I got the impression
    Sprott was planning on taking more physical at these low prices.

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