Source: http://silverdoctors.blogspot.com/2012/01/official-mint-silver-sales-surpass.html#more We've all read about the fundamentals of silver and the arguments about manipulation, blogs and videos from silver-permabulls and bearish technical analyses, and most of us have seen the price rocketing ("to da moon") and dropping >30% in just a few hours ... But considering the difficulty of extracting relevant information from this overload, and when someone is looking for something that gives back some confidence in silver after the recent price drops, one might like to simplify this message to "They need more silver than they have" (and we know what this usually means for a commodity ... although silver is certainly not a "usual commodity" ) Presumably, it will take a while until this is also the case for Australia - anybody has an idea how much silver the Perth Mint processes anually, in relation to the ~2000t that are mined? I found a few individual figures, but no total nubers...
I thought american eagles had to be produced with american silver ? how did they sell more than they mined ?
That's explicitly mentioned in the article, which quotes this section from Wikipedia: (Source: http://en.wikipedia.org/wiki/American_Silver_Eagle#Program_extension.2C_2002 )
