Lawrence Williams
Silver Eagle coin sales by the U.S. Mint took their usual strong sales pattern on the first day they became available this year, but the figure was still a little down on the 2014 initial sales day. To read full article and view chart go to Mineweb.com
LONDON
We are indebted to Steve St Angelo of SRSrocco Report in the U.S. for the following note on a big jump in the U.S. Mint’s Silver Eagle coin sales with pent up demand seeing huge purchases on the first trading day of this year. This was followed by a rather less hectic second day of sales, but nonetheless sales over the first two trading days are at over 75% of last year’s total January sales levels. See chart below courtesy of Steve’s www.SRSroccoreport.com . But perhaps not too much should be read into this so far as sales always start the year off strong and fall away through the remainder of the month.
Steve noted in a report on his website that sales of U.S. Mint Silver Eagles started off at this high level again this year with 3.6 million sold in the first two reporting days of 2015. The U.S. Mint also started selling Gold Eagles last week with 51,500 ounces reported on the first day of sales. The U.S. Mint released the official first day of Silver Eagle sales on January 12th.
As we can see from the chart below, the U.S. Mint sold 2,958,000 Silver Eagles on January 12th, then another 656,000 on Tuesday, January 13th. So far this year, the U.S. Mint has sold 3,614,000 Silver Eagles compared to 56,500 oz of Gold Eagles – a 70:1 ratio, which, probably coincidentally, ties in remarkably well with the 73:1 Gold:Silver price ratio at the time of writing……..
To read full article and view chart go to Mineweb.com