Silver Eagle Sales Climb 87% Higher in October

November 1, 2014

silver eagles

Silver Eagle sales for the month of October were the highest of the year at 5,790,000. This is up 40% versus September and a whopping 87.5% versus October of last year. With 38 million Silver Eagles sold thus far in 2014, the 2013 record of 42.7 million coins may very well be broken.

Investors appear to be taking advantage of the dip in silver and depressed paper prices. Several dealers are now reporting that premiums are climbing rapidly and the more popular silver coins are out of stock and on backorder.  Cornerstone Bullion reported that:

Demand for physical metals (both coins and bars) has skyrocketed in the last 24 hours, causing higher premiums and delayed delivery on precious metals industry-wide.

The chart below shows the wild roller coaster ride that silver has been on over the past 5 years. Notice that the price is currently testing support around the $15-$16 range, where it had previously dipped and consolidated in early 2010. Analysts are coming out of the woodwork forecasting silver in the single digits, but at some point the supply and demand fundamentals are going to collide with the paper prices. I have a feeling that we are witnessing the capitulation stage now.

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Jason Hamlin - Founder - GoldStockBull

www.goldstockbull.com

Jason@GoldStockBull.com

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Jason Hamlin silver forecaster

Jason Hamlin is the founder of Nicoya Research and has been publishing investment research at goldstockbull.com since 2006. His background is in data analytics for the world’s largest market research firm. Jason consulted to Fortune 500 companies around the globe, including Nestlé, Johnson & Johnson and Del Monte. Jason eventually left the corporate world and leveraged his analytical skills to trade stocks successfully full-time. Jason is a contrarian, cycles investor and student of Austrian economics. He is a proponent of sound money, limited government, decentralization of power and the non-aggression principle (NAP). His website is at nicoyaresearch.com.  You can reach Jason at: https://nicoyaresearch.com/contact-us/.

Spanish Conquistadores invaded the Inca Empire in 1528 to steal their silver and gold.

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