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U.S. Mint : Unloads Another Million Silver Eagles Over The Holiday Weekend

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January 20, 2015 - 9:13pm

The U.S. Mint just updated its Silver Eagle sales on its website… and it was a real doosey.  Looks like the U.S. Mint sold nearly one million Silver Eagles over the Holiday weekend.  The last update provided by U.S. Mint, listed sales for January at 3,701,500 on Friday.

There was no update yesterday due to the Martin Luther King Holiday, but they did updated their website today.  Another 954,500 Silver Eagles were sold since the end of last week:

2015 Silver Eagle Sales Jan 16 & 20

The total for January is 4,656,000 compared to 4,775,000 for the entire month last year.  There are nearly two weeks remaining in the month, so if sales continue to be strong, we could see total Silver Eagle sales for January to reach 5,500,000 to 6,000,000.

Gold Eagle sales remain subdued at 76,000 oz, but are only 15,500 away from the 91,500 oz sold in January last year.  Currently the Silver-Gold Eagle ratio is 61 to 1.

This was just a quick update, so I want to put a link to my recent article on the Bakken:

BLINKING RED LIGHT:  Big Trouble Ahead For Bakken Oil Production

Bakken Oil Price Collapse

The glory days of the Great Bakken Oil Field are soon coming to an end.  With the collapse of the price of West Texas Intermediate Crude, shale oil production from the Bakken is in big trouble.  How much trouble?  Well, if we understand how much of its production growth came in 2014, the situation is dire indeed.

Ironically, Americans have been lulled into believing that the United States is heading towards energy independence, while the opposite is the case.  Not only has the Bakken given us a false sense of energy security, when it finally peaks… it will decline in stunning rapid fashion.  This is what the media, oil industry and public fail to realize.

READ MORE HERE:  BLINKING RED LIGHT:  Big Trouble Ahead For Bakken Oil Producction

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I highly recommend precious metal investors to take a look at that article as the implications of the peak and decline of U.S. Shale Oil Production will negatively impact the value of most paper assets going forward.

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