Gold and Silver Eagles Have Crash Landed 2018

Gold and Silver Eagles Have Crash Landed 2018 by Rory – The Daily Coin

During the months of September, October and November 2018, we saw a year over year spike to the upside in ASE sales to the Authorized Purchasers (AP’s). Not sure what constituted this spike, but the numbers are below for you to see for yourself. September and November were extremely dramatic increases. For example in September 2018 there was close to a 7 fold increase year over year.

Both Gold and Silver Eagles are suffering this year. It appears the metals consumer is completely broke. Can the profits, and loses, from gambling in the cryptocurrency markets be playing a role? I would say yes. As 2018 has progressed, and cryptocurrencies have continued to get hammered to the downside, Eagle sales have followed suit. The only relief, for Silver Eagles, coming in September, October and November 2018.

Gold Eagles really took off beginning July and haven’t looked back. It appears both metals are going to be way off 2017 sales by high percentage numbers. Gold, if December holds the line, will be down somewhere around 5-6% year over year, while Silver Eagles will be down upwards of 12%.

Here is what Reuters reported about a week ago.

(In the Nov 30 item, the U.S. Mint incorrectly reported that November sales of American Eagle gold coins fell 67.3 percent from the previous month to 8,000 oz, when, in fact the coin sales fell 16 percent to 20,500 oz in November. The U.S. Mint also incorrectly reported that November sales of American Eagle silver coins fell 11.2 percent to 1.27 million oz, when, in fact, the coin sales increased 15 percent to 1.645 million oz. Also corrects year-to-date totals for both metals and the headline.)

NEW YORK, Nov 30 (Reuters) – The U.S. Mint sold 20,500 ounces of American Eagle gold coins in November, down 16 percent from the previous month, according to the latest data.

(in ounces)

                       Gold                Silver                   Platinum
                       2018      2017      2018         2017         2018    
January                58,500    117,500   3,235,000    5,127,500    n/a     
February               5,500     27,500    942,500      1,215,000    20,000  
March                  3,500     21,000    915,000      1,615,000    n/a     
April                  4,500     6,000     915,000      835,000      n/a     
May                    24,000    15,500    380,000      2,455,000    10,000  
June                   24,500    6,000     435,000      986,000      n/a     
July                   35,000    17,500    885,000      2,320,000    n/a     
August                 21,500    9,500     1,530,000    1,025,000    n/a     
September              20,500    11,500    2,897,500    320,000      n/a     
October                24,500    15,500    1,430,000    1,040,000    n/a     
November               20,500    12,000    1,645,000    385,000      n/a     
YTD Total              242,500   259,500   15,210,000   17,323,500   30,000

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.