PDA

View Full Version : US Mint sells an amazing 1.7 million ounces of silver on first day of 2011



Mighty_Men_of_Baltimore
4th January 2011, 17:09
...The Mint reported an astonishing 1,696,000 silver bullion coins sold on the first day of American Eagle sales on Jan. 3, 2011...

Note: I'm assuming each sale is an ounce...but it could be more because they do sell 5 ounce coins.

http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=117782&sn=Detail

Mighty_Men_of_Baltimore
4th January 2011, 17:12
Now this makes no sense. The article claims 1.772 million ounces of "silver bullion" sold in December, but 5 ounce coins sales are 4 million! Somebody needs to multiply.

While silver bullion coin sales hit a record 4.26 million ounces in November 2010, the number declined substantially in December 2010 to 1,772,000 ounces sold.
Gold bullion one-ounce sales also plunged to 58,500 coins sold in December 2010, the lowest total sales for any month of 2010. Gold sales peaked in May 2010 when 190,000 one-ounce bullion coins were sold.
The Mint also reported strong sales of 825,500 newly issued America the Beautiful 5-oz silver bullion coins as of Dec. 26, 2010.

silverheartbone
4th January 2011, 21:15
Somebody made a boo boo.
I seriously doubt if the US Mint reported those figures.
I think the mintages were about 30,000, and I don't remember if that is the total for all or the mintage for each variety.
Either way it was either ~30,000 or ~150,000 5 ounce coins in total.

I think that 825K number is from the beginning of last year, and represents what they were projecting to coin and issue, before the reality.

skijake
4th January 2011, 21:49
...The Mint reported an astonishing 1,696,000 silver bullion coins sold on the first day of American Eagle sales on Jan. 3, 2011...

Note: I'm assuming each sale is an ounce...but it could be more because they do sell 5 ounce coins.

http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=117782&sn=Detail

MMoBaltimore,, Is there a possibility that these are pre-orders tabulated through the end of 2010?
Seems you never get Government info that quick.
Just a thought.
They are obviously having problems with keeping up with demand as they keep yanking supply here and there. Good stuff!