More stress is being placed on very tight physical supplies of silver. The mints simply cannot keep up with demand. Silver producers should trade considerably higher in the coming months. A self-sufficient silver producer a la UC will likely trade at many multiples of the current SP. Ivana
JanuARY 17, 2013
*Update: as if on que, the Mint has just notified the primary dealers that Silver Eagles are sold out, and that sales are suspended effective immediately through 1/28!
The US Mint reported another 1 million Silver Eagles sold Thursday, bringing the January sales total to an astonishing 6.007 million ounces in less than 2 weeks of sales!
With nearly half of January remaining, it is now all but certain (barring a complete shut-down by the mint) that January 2013 Silver Eagles sales will absolutely shatter the all-time monthly sales record for the Mint set in January 2011 at 6,422,000 ounces.
The Mint is currently on pace to sell a COMEX sucking 12.66 MILLION OUNCES OF SILVER EAGLES IN THE FIRST MONTH OF 2013, more than the YEARLY sales total for ANY year prior to 2008 at the US Mint!!!
The US Mint has sold over 6 million ounces during the first 9 business days of January! (the mint began production on 1/7)
And the all-time monthly record set in January 2011: