Insert witicism here. [ xxx ]
I am sure the numbers are correct, so there must either be a lot coming in from offshore, or reuse of melted "junk" or scrap.
Using their numbers and the Silver Eagle Production (No proof or mint sets, or other stuff)
Year SAE Production New Mined Silver SAE > Mined
2013 44,156,300 33400000 -10,756,300
2014 45,203,926 37600000 -7,603,926
2015 47,707,518 35400000 -12,307,518
2016 37,701,500 37000000 -701,500
So just the SAE production, on average, is consuming all new silver plus about 21% more.
Interesting data point... and since silver is finding more applications (i.e. clothing due to it's anti-bacterial properties), we could see a substantial increase in base metal pricing. Cheers, RickO
I hope the price of Silver goes up.
Maybe repurpose some of that junk that's out there. What's the point of struggling to mine it just so someone can hoard it?