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March
10
2021

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

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.

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.

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.

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…

DISCLAIMER: SRSrocco Report provides intelligent, well-researched information to those with interest in the economy and investing. Neither SRSrocco Report nor any of its owners, officers, directors, employees, subsidiaries, affiliates, licensors, service and content providers, producers or agents provide financial advisement services. Neither do we work miracles. We provide our content and opinions to readers only so that they may make informed investment decisions. Under no circumstances should you interpret opinions which SRSrocco Report or Steve St. Angelo offers on this or any other website as financial advice.

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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.


 

  

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