U.S. Mint Rations One Million American Silver Eagles a Month To Authorized Purchasers To Avoid News of Shortage.
News of a shortgage could create panic buying demand that can’t be met.Earlier this week, Rory Hall of the Daily Coin and I held our bi-monthly precious metals update call. We were breifly sidetracked by current events.
We started the show with a discussion of the shooting incident in Orlando. We discussed how main stream media is designed to grab your attention and alternative media is designed to criticize/call out main stream media’s inconsistencies and manipulations.
Alternative media would be well served, not only to highlight false narratives of the main stream media, but to create some truthful ones of its own.Sovereign Mint Silver Sales
We discussed the record silver sales of the Canadian, Perth and U.S. Mints in the first quarter of 2016 after a record year in 2015. (See charts below)
The United States Mint had record sales in the month of May and sold over four millionAmerican Silver Eagles for the fifth month in a row.
The Perth Mint sold 974,865 ounces of silver in May breaking a streak from September 2015 – April 2016 during which the Perth Mint sold over a million ounces of silver every month.
The U.S. Mint Keeps the Authorized Purchasers Well Stocked With American Silver Eagles
In “What if 1% of the U.S. Labort Force Saved in Silver?” Rory and I discussed how the U.S. Mint desperately wants to avoid a shortage of American Silver Eagles in 2016 after they were sold out in 2015. Therefore, in 2016, the U.S. Mint rationed a very high amount – one million American Silver Eagle coins a week – to its Authorized Purchasers.
Please have a listen as we discuss silver coin demand in 2016: