from Silver Doctors:
A Low $14 futures price of silver combined with this weekend’s world changing tragic events in Paris appear to have ignited another run on physical precious metals…
Authorized Purchasers of US Silver Eagles and the largest gold and silver wholesalers reported massive physical demand for silver on Monday, with multiple AP’s reporting sales have been “crazy“, with clients calling to take down 50,000 – 100,000 Silver Eagles at a time.
In response, Silver Eagle as well as Silver Maple premiums – which had been declining for the past 4-6 weeks- have jumped multiple times intra-day on the wholesale market.
The sudden shift in market sentiment is reminiscent of early September, when record-breaking demand for physical silver coins saw wholesale premiums for Silver Eagles surpass $5.00/oz.
US Mint 2015 Silver Eagles sales have already reached 2.2 million coins in November, bringing total 2015 sales to 42,029,500 coins, and will likely set a new all-time sales record within the next 2-3 weeks.
Whether wholesale premiums for Silver Eagle coins remain under $3/oz for the near future will likely be determined by the futures price of the volatile white metal.
Another factor likely to influence availability and premiums for Silver Eagles is the US Mint’s production schedule, as we anticipate the mint to announce a 4 to 6 week shut-down of production in early-mid December while the Mint switches dyes over to 2016 coins and builds up a 5-7 million oz inventory of 2016 Silver Eagle coins.
(The Mint announced with zero warning on Friday 11/13 that they had sold out entirely of 2015 1/4 oz Gold Eagles entirely, and would not be producing any further coins until 2016):
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