OCTOBER SILVER EAGLE SALES BEST EVER…. And With 10 Days Remaining

Jon Economy, Fiscal Policies, Market Commentary, Precious Metals, Silver

While the Fed and Western Central Banks continue to prop up the entire market, investors took advantage of the manipulated low silver price by purchasing a record amount of Silver Eagles in October. Silver Eagle sales were also extremely strong last month as total sales reached 4.1 million in September.
In the beginning of October as the price of silver was clobbered below $17, investors purchased more silver eagles in one week than in any other week throughout the year. This trend continues as sales in October are the strongest ever compared to previous years.
If we look at the chart below, we can see that investors only bought 550,000 Silver Eagles in October 2007. Then in the next few years, purchases of Silver Eagles increased dramatically to 1,425,000 in Oct 2008 and 2,939,000 in Oct 2009. However, since 2010…. October sales were relatively flat – between 3.0 to 3.1 million.

This post was published at SRSrocco Report on October 22, 2014.