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Canadian Maple Leaf Silver Coin Sales Up A Hefty 24% in Q1

Canadian Maple Leaf Silver Coin Sales Up A Hefty 24% in Q1

Canadian Maple Leaf Silver Coin Sales Up A Hefty 24% in Q1

With the release of the Royal Canadian Mint’s first quarter 2014 report, sales of silver maples increased substantially compared to the same period last year.  While Silver Eagles sales in Q1 declined slightly year-over-year due to a backup at the U.S. Mint, Canadian Maple Leaf sales reported a 24% increase.

In 2013, there were 6.6 million Maple Leaf sales during the first quarter.  However, this year sales jumped an additional 1.6 million for a total of 8.2 million for the period.

Canadian Maple Leaf Sales Q1 2014

Furthermore, total sales last year reached 28.2 million and if the trend continues, we could see a new annual record between 30-32 million Silver Maples.

On the other hand, Gold Maple Leaf sales declined 35% from 269,000 oz during the first quarter of 2013 to 176,000 oz this year.   While Canadian Gold Maple sales are off compared to last year, the percentage decline in Gold Eagles was even greater.

Sales of Gold Eagles fell from 292,500 oz in Q1 2013 to 143,500 oz during the first quarter of 2014.  This is a staggering 51% decline y-o-y.

The reason for the decrease in Official Gold coins sales has everything to do with the Fed and Central Banks continued manipulation of the financial and precious metal markets.  The public has this notion that everything is fine once again in the financial markets and institutions.

Unfortunately, the opposite is the case as the Fed now has to resort to propping up the U.S. Treasury Market by covertly buying its own bonds through foreign intermediaries.  If there isn’t enough demand, well by gosh, the FED can print money… send it to a foreign Central Bank and force them to by the paper garbage.

Have we gone totally INSANE here?  I recommend watching the USA WatchDog interview between Greg Hunter and Jim Rickards.  Jim discusses this and other events in great detail.

The U.S. Dollar and economic system continues to disintegrate behind the scenes as the majority of Americans remain oblivious.  Even worse, it seems as if the precious metal investors are becoming bearish believing in the nonsense coming from MSM.  I got a kick today reading that Dennis Gartman says that “Gold is breaking down — it looks horrible.”

Whenever I need a good laugh… I put on CNBC and listen to Dennis Gartman’s gold forecast.  Just like the weather, if you wait around a while, Gartman’s predictions will change direction rather quickly.

The world is heading down the toilet and I am simply amazed at the lack of demand in the official gold coin market.  However, this was the Fed and Western Central Banks plan all along.  By destroying the paper price, they killed retail investment demand which allows China to purchase gold at a nice discount.

I believe Jim Rickards is correct.  The Gold (and Silver) price manipulation will end one day OUT OF THE BLUE.  There will be no warning.  And of course it will be too late to purchase gold or silver.

I have said it before and I will say it again….



Courtesy: SRSroccoreport

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