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U.S. Mint Silver Eagle Sales Continue To Be Strong In March While The SLV ETF Sheds More Silver

Scorpio

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U.S. Mint Silver Eagle Sales Continue To Be Strong In March While The SLV ETF Sheds More Silver
Steve St Angelo



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JP Morgan and its Authorized Participants played a very SAVVY “Accounting Gimmick” to squelch the Silver ShortSqueeze…



In March, sales of Silver Eagles continue to be quite strong as investors pay hefty premiums for the highly sought-after U.S. official silver coin. Also, the U.S. Mint has sold 70 times more Silver Eagles than Gold Eagles in the first eight days of March. This is nearly three times the ratio of Silver to Gold Eagles sold last month in February.


According to the U.S. Mint’s most recent update, Silver Eagle sales totaled 1,572,000 as of March 8th, while Gold Eagle sales were 22,500 oz. The chart below shows the total for Jan-Mar over the past five years. However, the 2021 figures are just for the first eight days of the month. So we could easily see 11+ million for Jan-Mar 2021.


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In March, sales of Silver Eagles continue to be quite strong as investors pay hefty premiums for the highly sought-after U.S. official silver coin. Also, the U.S. Mint has sold 70 times more Silver Eagles than Gold Eagles in the first eight days of March. This is nearly three times the ratio of Silver to Gold Eagles sold last month in February.


According to the U.S. Mint’s most recent update, Silver Eagle sales totaled 1,572,000 as of March 8th, while Gold Eagle sales were 22,500 oz. The chart below shows the total for Jan-Mar over the past five years. However, the 2021 figures are just for the first eight days of the month. So we could easily see 11+ million for Jan-Mar 2021.


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The iShares SLV ETF current silver inventories of 593.3 Moz is down from its record 677 Moz just a little more than a month ago.


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The massive Rise & Fall of JP Morgan’s SLV ETF inventories of 86 Moz since Feb 2nd, is more than the global monthly silver mine supply of 66 Moz. Indeed, JP Morgan and its Authorized Participants played a very SAVVY “Accounting Gimmick” to squelch the Silver ShortSqueeze.


And, if we look at the Sprott PSLV ETF silver inventories… they have increased by 26 Moz while the SLV ETF declined by 86 Moz.


Regardless… with the Fed and central bank playbook of issuing more Monopoly Money, Debt, and Leverage in the system, the fundamentals of precious metals, especially silver, only continue to get stronger every day. Unfortunately, the 99% of investors haven’t quite figured that out yet as they are still RUBBING their LUCKY HIGH-TECH RABBIT FOOT, hoping for higher stock prices.


GOD HATH A SENSE OF HUMOR…


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Independent researcher Steve St. Angelo (SRSrocco) started to invest in precious metals in 2002. Later on in 2008, he began researching areas of the gold and silver market that, curiously, the majority of the precious metal analyst community have left unexplored. These areas include how energy and the falling EROI – Energy Returned On Invested – stand to impact the mining industry, precious metals, paper assets, and the overall economy.​
Steve considers studying the impacts of EROI one of the most important aspects of his energy research. For the past several years, he has written scholarly articles in some of the top precious metals and financial websites.​
You can find many of Steve’s articles on noteworthy sites, such as GoldSeek-SilverSeek, Market Oracle, Financial Sense, GoldSilver.com, SilverDoctors, TFMetals Report, Outsiderclub, SGTreport, BrotherJohnF, Hartgeld, Der-klare-blick, PeakProsperity, SilverStrategies, DollarCollapse, FurtureMoneyTrends, Sharpspixley, FinancialSurvivalNetwork, Pmbull, Deviantinvestor, PmBug, Wealthwire, and ZeroHedge.​
















http://www.silverbearcafe.com/private/03.21/eaglesales.html
 

solarion

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Amazingly brisk volume, given the ridiculous premiums the US mint products are commanding. I get an average of 38.46 between Apmex, JMB, and SDB. $40.24 at Apmex...which is deluxe insane. That puts the average premium between the three companies at 12.26 or 46.8%. ...complete insanity. I've stacked zero eagles this year for this reason. Perhaps people assume the pre-change over 2021 eagles will command a higher re-sale down the road...but damn.

The SLV. LOL What a fraudulent clown show. Not much else to say. Don't send your PM funds to JP Morgue to watch over as "custodian" AND "authorized participant". They get to drain the silver from the fund they oversee? What the ridiculous fuqs? Run away. JPM guys belong in handcuffs, not overseeing the world's largest PM fund.
 

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And, if we look at the Sprott PSLV ETF silver inventories… they have increased by 26 Moz while the SLV ETF declined by 86 Moz.
These are both tiny amounts in the big picture, but I wonder. Is SLV selling the silver (to push the price down), or are the principals taking delivery? The former would be malfeasance, in my opinion. The latter would suggest that participants really want a long position, and need to possess physical for assurance. Either way, SLV having fewer bars on the books is good.

Not too long ago, there were news stories about a global monetary fund that had some gold (20 million?) to make threats against some countries. They used the threat again and again. And finally, they actually sold the gold, and now they have lost their threat.
 

solarion

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There is zero transparency, but the leading theory is that the SLV "authorized participants" (big banks) are raiding the SLV bullion inventory to cover naked shorts in the futures market...which were being used to smash the silver price.

There's been a significant spike in EFP(exchange for physical) contracts since the beginning of the year at the crimex as well...like some players are covering naked shorts.

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