2018 US Mint Bullion Sales Tanking
I've been in the Gold & Silver investment segment for almost 20+ years in various forms including mining stocks, coins and bullion. I've never seen sentiment this bad. The premiums on pre-1933 Gold are near $0, the premiums on Constitutional "aka Junk" Silver are near $0 and with a record amount of debt continuing to pile up throughout the World, US Mint Sales of bullion Gold and Silver coins are tanking in 2018 versus 2017 which was already a down year in and of itself.
2018 Gold sales for the first 2 months of the year came in at 64,000 oz versus 145,000 oz in prior year 2017. This is a reduction of nearly 56% in just 1 year!
2018 Silver sales for the first 2 months of the year came in at 4,177,500 oz versus 6,342,500 oz in prior year 2017. This is a reduction of nearly 35% in just 1 year!
At this pace, we will be lucky to see a year of over 15,000,000 Silver Eagle sales in 2018. For reference, just a few years ago, we were pushing total sales of almost 50,000,000 US Silver Eagle sales. This is a reduction of over 70%! The good news is, that I have a very long term perspective on this investment/financial insurance. With premiums this low, we are all able to buy more ounces with our fiat.
I am @matthewwarn and I have Stackitis... there are worse problems to have in life.
Photos from https://www.usmint.gov
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Amazing real time stats for sales thru the US Mint. The MSM public is so headline dependent and cannot see an game changing investment if it was staring them in the eye. More PM for the steemsilvergold community, at low premiums. But I have a hunch, by the end of the year, when this manipulated market breaks in our favor, the mint will be selling many more ounces and the premiums will rise with this barrage of Buying.
I've been waiting for manipulated markets to break for a long time now...eventually they will, but I've stopped watching the price action on a daily basis. It was driving me mad.
I look at it like you said, a great opportunity to buy will sentiment and premiums are so low. This will also keep the mintage down and may command a higher premium in the future because of it. Great article!
Its a great time to dollar cost average in.
@matthewwarn You think you have been around for a Long Time ?? What about me when I was pulling Junk Silver out of Change when I was a Kid in the 60's and also working in a Coin Shop when I was in High School in the Early 70's ??? I will NEVER lose my perspective on why I Love Precious Metals......
Nice! We are in agreement then, you are old :-). In all seriousness, the manipulation and time in the market does age ones investment soul
Those numbers blow my mind. I cannot figure out why more people are not waking up. Whenever I talk to friends about silver they have no clue. I guess the good thing is prices are low so we can keep stacking on!
Most people will believe anything the government tells them...its sad, but schools beat thinking for ones' self out of students.
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You got a 50.00% upvote from @redlambo courtesy of @matthewwarn! Make sure to use tag #redlambo to be considered for the curation post!