Yesterday we reported that the US Mint had sold 3,957,000 ounces during the first week of 2012. Many readers scoffed at the report as unimportant as many of these ASE's were likely 2012 pre-sales from December 2011. Well, the mint updated their sales totals again tonight, and January 2012 sales jumped another 300,000 ounces overnight to 4,257,000 ounces.
Clearly ASE's continue to fly off the shelves like hot cakes, and a new all-time record sales total for the month of January is looking likely.
If Monday's sales pace continues throughout the rest of January, the US Mint would sell AN ADDITIONAL 4.8 million Silver Eagles during the remainder of January, for a monthly total of 9 million ounces!
Remember that the 2011 sales total was 39 million ounces.
Should this pace continue throughout January, the sales total would be 1/4 of 2011's record breaking TOTAL sales during merely the first month of 2012!!!
Clearly the cartel is in a predicament, as they need to drive the price much lower if they wish to extricate themselves from their enormous naked short position, yet doing so creates a black-hole like suction of physical silver from rapidly awakening investors.
We say bring on your $20 paper silver prices Blythe and Jamie, we would be more than happy to take a few more ounces off your hands.
| Month | One ( oz. / #coins ) |
|---|---|
| January | 4,257,000 4,257,000 |
| Total | 4,257,000 4,257,000 |
Monday's numbers:
| Month | One ( oz. / #coins ) |
|---|---|
| January | 3,957,000 3,957,000 |
| Total | 3,957,000 3,957,000 |
