Investors snatched up a record number of Silver Eagles as the paper price was manipulated to new lows today. This is a very strange market phenomenon, as several “Official” analysts forecasted a drop or sell-off of physical metal if the price continued to decline.
In just the past two days, investors purchased more than 1.4 million Silver Eagles. This pushed the total sales for October to 5,790.000, surpassing the record set in March at 5,354,000.
Furthermore, total Silver Eagle sales for 2014 are now over 38 million. In 2013, the record stood at 42.7 million. If we have another strong sales month in November of 4 million, all we would need is at least 800,000 Silver Eagles sold in December to surpass the record set last year.
Even though a small portion of the public is investing in Silver Eagles.. it’s still amazing to see this sort of HIGH DEMAND, while most fickle investors would be running for the hills. Again, several analysts stated that silver investment demand would start to ease if the price of silver continued to fall.
Here we can see that the OPPOSITE IS THE CASE. … silly analysts.
Lastly, if Silver Eagles are flying out of the U.S. Mint at the bottom basement prices, I can guarantee the same thing is taking place with Silver Maples at the Royal Canadian Mint.
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