U.S. Mint Stops Production of American Silver Eagles

Silver Doctors Reports U.S. Mint Authorized Purchaser Has Told Them that the Mint Will Stop Making 2016 dated American Silver Eagles.

Lack of Demand Cited.

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Silver Price Rising, Demand Falling?

Update: August 22 2016: Caller to US Mint reports that US Mint official says production has not stopped *** (SEE BELOW)

According to a report on Silver Doctors, the U.S. Mint is halting production of American Silver Eagles, due to lack of demand. This runs counter to the stories we have heard that physical gold and silver demand was ‘skyrocketing’. One report even said we would run out of silver in 2016 – guaranteed!

We have been reporting on noticeable declines in global physical gold and silver demand for several months, and while we are surprised the US Mint is halting production this early in the year, we are not shocked given what we know.

American Silver Eagle sales 2106 through August

American Silver Eagle sales to Authorized Purchasers have collapsed recently

The U. S. Mint, a branch of the U.S. Treasury, didn’t want the attention that would come from a silver shortage or another record year, so they allowed authorized purchasers to buy a million silver eagles a week for six months. As a result, authorized purchasers and their dealers have plenty of silver eagles on hand and don’t need to buy any more for awhile. The Mint actually managed, not only to avoid a ‘positive’ silver story but now has a negative silver story:silver is plentiful, demand is gone, nothing to see here.

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Investment Demand and “Trader Sentiment” Drive Gold and Silver Not Physical Demand

Sounds counterintuitive. Keep in mind gold and silver ‘sentiment’ on gold and silver was very low from 2014-2015 despite record Shanghai Gold Exchange withdrawals, massive Indian silver imports and record silver sales at the major mints. Physical demand was boosted by the low prices.

When the “big money” moves into gold and silver, it moves into paper gold and silver. Messrs. Soros, Drukenmiller, Paul Singer, Rothschild dont go down to the local coin shop or call online bullion dealers for a few eagles or maples, they buy comex futures contracts, gold and silver ETFS (record inflows) and gold and silver mining shares. This is how they are authorized by their investment mandates to invest. When prices rise, stackers stop buying physical gold and silver perhaps and instead are watching the ride higher or even buying some mining shares.

All during 2016 we have been reporting on the decline in physical demand (see below) and the increase in investment demand and have cited the latter as the reason for the swift rise in precious metals prices this year.

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gold etf august 20 2016

silver etf august 20 2016

silver open interest august 20

comex open interest gold august 20 2016

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***Seeking Alpha Reports

The US Mint is denying that is has stopped selling eagles to its AP’s

“Reports that the US Mint is halting silver bullion sales to authorized purchasers are simply inaccurate. Sales of silver bullion continues, and there are no plans-and no reasons-to discontinue or suspend sales of any of our bullion products.”

No one said they had stopped SELLING; the report on Silver Doctors was that they had stopped production.





80% of Central Bank Gold Buying is from Russia and China

RUSSIAN GOLD RESERVES (monthly archive)

The PBOC has slowed its purchases this year.


Shanghai Gold Exchange withdrawals, often considered a proxy for physical gold demand In China, are down this year.



Number one importer of silver, number one or two consumer of gold.

INDIAN SILVER IMPORTS (no import duty restrictions) DOWN in 2016


U.S. MINT SALES (monthly archives)

PERTH MINT SALES (monthly archives)

(quarterly and annual archives)
(admitted over producing this year to avoid a shortage)

The Lowest Cost. Period.

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America The Beautiful coin sales: US Mint

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