Demand For Coins And Bars Exploding While Gold And Silver Prices Pushed Down

While the price of silver and gold have been breaking down, the demand for coins and bars is exploding, as evidenced by the following facts:
Bloomberg reports on October 31st ‘U. S. Mint Silver-Coin Sales Jump to 21-Month High’:
Sales of American Eagle silver coins by the U. S. Mint jumped 40 percent in October to the highest in 21 months, defying a slump in New York futures to the lowest in more than four years. Sales surged to 5.79 million ounces, the most since January 2013, the month that set an all-time high at 7.5 million. Today, sales jumped 33 percent in one of the busiest times this year, Tom Jurkowsky, a spokesman at the Washington-based mint, said in an interview. Last month’s total was 4.14 million.
Reuters reports today, November 5th ‘Silver lining in precious metals’ rout catches out coin mints’:
The U. S. Mint sold 1.4 million ounces of silver American Eagle coins on Friday alone, the highest daily sales since Jan. 13 when the new 2014-dated coins first became available. The Perth Mint, which runs the only gold refinery in No. 2 gold producer Australia, said it was not facing any supply issues as it usually launches a new line of products from September, unlike the other mints.
Reuters reports today, November 5th ‘U. S. Mint temporarily sold out of Silver Eagles amid huge demand’:

This post was published at GoldSilverWorlds on November 5, 2014.