Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > PM Bug

Like Tree35Likes

Reply
 
LinkBack Thread Tools
Old 09-19-2012, 06:41 AM   #1
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 6,865
Liked: 2425 times
US Mint sales of gold and silver

http://www.usmint.gov/mint_programs/...ales&year=2012

Silver to gold ounces sold = ~54.87 : 1 ratio.

At an average (over the course of the year) GSR of say, 54, that looks to be roughly even money going into physical gold and silver from the US Mint.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 09-19-2012, 08:49 AM   #2
Predaceous stink bug
 
HCA1961's Avatar
 
Join Date: May 2012
Location: Kentucky
Posts: 143
Liked: 68 times
Very interesting. Gold:silver volume inversely proportional to GSR.
bushi likes this.
HCA1961 is offline   Reply With Quote
Old 09-19-2012, 09:35 AM   #3
Ground Beetle
 
bushi's Avatar
 
Join Date: Nov 2011
Posts: 971
Liked: 554 times
yeah, it seems logical, that one is the exact inverse of the other - one would expect, that pure supply/demand dynamic would establish price ratios that way.

I was getting that feeling recently, that the historical GSR, as we often refer to (in the region of twenties), is not necessarily something that is apropriate nowadays - had seen some good article on Seeking Alpha, that the current GSR is quite appropriate to current supply in these two metals. It seems to confirm that.
bushi is offline   Reply With Quote
Old 09-19-2012, 09:58 AM   #4
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 6,865
Liked: 2425 times
Consider that this is just sales from the US Mint - a window on (physical) investment demand. It would be interesting to see a similar window on industrial demand for physical silver versus gold.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 09-19-2012, 02:31 PM   #5
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,359
Liked: 2037 times
I don't have any more faith that the mint is telling the truth than I do of the Fed telling the truth. They are all GovCo liars.

[...and their pants are all on fire]
mike and Jay like this.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 10-23-2012, 04:37 PM   #6
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 6,865
Liked: 2425 times
Quote :
The US Mint’s frantic silver sales pace continued over the weekend, as the Mint reported 430,000 ounces of silver sales over the weekend on Monday. Perhaps more importantly, the US Mint Silver eagle to US Gold eagle sales ratio continues to exceed 50 to 1, a pace that is simply unsustainable with a current mine ratio of 9 to 1.
...
More: http://www.silverdoctors.com/u-s-min...r-the-weekend/
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 10-23-2012, 04:49 PM   #7
Ground Beetle
 
mike's Avatar
 
Join Date: Feb 2012
Location: Texan in Sweden
Posts: 549
Liked: 306 times
Originally Posted by ancona View Post:
I don't have any more faith that the mint is telling the truth than I do of the Fed telling the truth. They are all GovCo liars.

[...and their pants are all on fire]
hahahaha
__________________
"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary."

H. L. Mencken

comparegoldandsilverprices.com
mike is offline   Reply With Quote
Old 01-03-2013, 09:13 AM   #8
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 6,865
Liked: 2425 times
Quote :
The U.S. Mint reported annual American Eagle gold bullion sales dropped in 2012 from 1 million ounces in 2011 to 753,000 ounces last year.

However, December 2012 gold sales increased to 76,000 ounces, up from 65,500 ounces in December 2011.

Annual sales of American Eagle silver bullion coins totaled 33,742,500 ounces in 2012, down substantially from the sales of 39,868,500 ounces in silver bullion coins reported by the Mint in 2011. Nevertheless, December 2012 American Eagle silver bullion sales were the third highest in the Silver Eagle’s history.
...
http://www.mineweb.com/mineweb/conte...8530&sn=Detail
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 01-03-2013, 09:16 AM   #9
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,359
Liked: 2037 times
PMBug, I think 2013 will se some epic shifts in the PM markets and PM miners. I have read several articles speaking about hedge funds and large investing entities starting to dip in to teh pool of miner stocks lately. It has been a pretty quiet move that to me at least, makes me think we shall see some material price movement, perhaps even in this quarter.

I sure hope so.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 01-03-2013, 12:54 PM   #10
Moderator
 
Join Date: Oct 2011
Posts: 1,059
Liked: 459 times
US Mint sales impress..

http://www.caseyresearch.com/gsd/edi...-wages-it-open

Quote :
"The U.S. Mint had a rather strange, but eye-opening, sales report yesterday. They sold an absolutely stunning 50,000 ounces of gold eagles...along with an equally impressive 8,000 one-ounce 24K gold buffaloes...but zero silver eagles. If you're wondering how this can be possible on the first sales day of the new year, it's my guess that these gold sales actually occurred in December, but were pushed into January in order not to make the sales month look as good as it obviously was.

The bullion dealers all over the U.S.A. were reporting almost record sales figures in December...and the U.S Mint sales in gold, although strong, didn't come close to matching the rhetoric from the dealers. Now I know why. When we see the first true sales numbers in January for gold...and especially silver eagles, they should be equally as impressive. However, I find it very disturbing that the mint is now obviously playing games with their sales numbers. But, having said that, this is the third December/January time period in a row where I've seen them shove December sales into January. You have to wonder if there's any adult supervision going on at the mint."
PMBug, ancona and bushi like this.
DSAbug is offline   Reply With Quote
Old 01-03-2013, 01:57 PM   #11
Predaceous stink bug
 
Join Date: Jun 2012
Location: Left Coast
Posts: 167
Liked: 71 times
Originally Posted by PMBug View Post:
http://www.usmint.gov/mint_programs/...ales&year=2012

Silver to gold ounces sold = ~54.87 : 1 ratio.

At an average (over the course of the year) GSR of say, 54, that looks to be roughly even money going into physical gold and silver from the US Mint.
My ratio was 25:1. Bought 50 silver maples and 2 gold ones yesterday.

BTW, as expected, prices dropped right after I bought.

Ugh.
superhero is offline   Reply With Quote
Old 01-03-2013, 02:55 PM   #12
PM Bug Supporter
 
DoChenRollingBearing's Avatar
 
Join Date: Oct 2011
Location: SE USA
Posts: 1,275
Liked: 691 times
Happens to me all the time superhero!

2013 promises to be an exciting year of buying more gold. As long as the income comes in (and I do not get it all taxed away...), I'll be showing up at my local coin shop.

Since our FECKLESS POLITICIANS keep screwing us, I do not see alternative to buying PMs. That would include Pb and related...
DoChenRollingBearing is offline   Reply With Quote
Old 01-03-2013, 07:20 PM   #13
Predaceous stink bug
 
Join Date: Jun 2012
Location: Left Coast
Posts: 167
Liked: 71 times
Originally Posted by superhero View Post:
My ratio was 25:1. Bought 50 silver maples and 2 gold ones yesterday.

BTW, as expected, prices dropped right after I bought.

Ugh.
Double ugh as prices keep dropping.

POG currently $40 below purchase price, POS $1.50 below purchase price.

superhero is offline   Reply With Quote
Old 01-07-2013, 11:04 AM   #14
Moderator
 
Join Date: Oct 2011
Posts: 1,059
Liked: 459 times
Originally Posted by superhero View Post:
Double ugh as prices keep dropping.

POG currently $40 below purchase price, POS $1.50 below purchase price.

What has changed? Were you planning on selling today?

<slap>

Don't look at your P&L. Unless you are a trader that is...
rblong2us likes this.
DSAbug is offline   Reply With Quote
Old 03-21-2013, 10:13 AM   #15
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 6,865
Liked: 2425 times
Quote :
Sales of 1-ounce silver and gold American Eagle coins are soaring as market prices for the precious metals drop.

In fact, February sales of gold Eagles from the U.S. Mint were up 240 percent year over year, with sales of silver Eagles up 126 percent from February 2012 to 2013. The total number of troy ounces of gold sold during the two months in the form of Eagles was 230,500. For silver, the total was 10,866,500.
...
“January and February for us were record type months,” Haynes said. “Our volume is extremely good; the physical markets are alive and well.”

It's APMEX Bullion Center on eBay had two of its top selling days ever in February, he said, and was frequently among the top 10 sellers on eBay.
...
While gold and silver Eagles are the most popular 1-ounce bullion coins in the U.S., Haynes said they by no means make up 50 percent of sales. Canadian Maple Leaf gold and silver coins also sell well, he said.

“A lot of people like Australia’s Kangaroo. It has a low premium over gold content. If you compare the Kangaroo and the Eagle, the Kangaroo is a little less expensive,” he said.

The Krugerrand is popular, but probably comes in at No. 4, he said, while in Europe it would rank first or second.
...
http://www.numismaster.com/ta/numis/...rticleId=26694
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 03-27-2013, 06:46 AM   #16
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 6,865
Liked: 2425 times
Quote :
The US Mint has just updated March Silver Eagle sales for the first time since 3/21.

THURSDAY LAST WEEK = 2,438,000
TODAY = 3,356,500
March US Mint silver/gold sales ratio: 60/1!
In the wake of the Cyprus banking collapse, the US MINT HAS SOLD NEARLY 1 MILLION OUNCES OF SILVER IN 4 DAYS!!
...
More: http://www.silverdoctors.com/usmint-...-sales-record/
BigJim and Unbeatable like this.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 03-27-2013, 08:03 AM   #17
n00b
 
Join Date: Mar 2013
Location: Oklahoma
Posts: 7
Liked: 3 times
Ok, I know I'm the FNG around here... but I thought when demand for these commodities went up, then the prices went up as well? Is there that much manipulation with the paper stocks?


Val
Valyn is offline   Reply With Quote
Old 03-27-2013, 08:23 AM   #18
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 6,865
Liked: 2425 times
Originally Posted by Valyn View Post:
... Is there that much manipulation with the paper stocks?
Yes. I think NNL explained it fairly well here:

http://www.pmbug.com/forum/f2/page-p...une-2012-a-12/

When the decoupling happens, it's going to be epic.
Unbeatable likes this.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 03-27-2013, 08:34 AM   #19
Yellow Jacket
 
DCFusor's Avatar
 
Join Date: Nov 2011
Location: Floyd, Virginia
Posts: 1,682
Liked: 1233 times
I've been contributing to the demand for phys - not huge, of course. But I think, though my "system" doesn't say "trade paper long" right now, that it will soon, and this is fairly close to a bottom on gold - we're near the most recent support, a little room under, a lot over where we are now. And it's been gold and silver eagles. I'm going slow as we might drop a bit more to what I see as the real support level, but I'm still going.

Mouth=money, on this one.
PMBug likes this.
DCFusor is offline   Reply With Quote
Old 03-27-2013, 09:11 AM   #20
Big-eyed bug
 
Join Date: Nov 2012
Posts: 416
Liked: 249 times
Originally Posted by PMBug View Post:
When the decoupling happens, it's going to be epic.
There is an absolutely massive decoupling coming soon. Too soon I think

Excluding other uses (Jewelry & Technology) there about 40 million ounces of gold available annually for investment (Incl. Mined & recycled), so about 10 million ounces every 3 months. So the 246 000 ounces the US mint has sold so far (2.5% of the total) might be manageable for a little while especially if they are dipping into US gold reserves.

However with silver, (excluding industrial and Jewelry) there is only 300 million ounces of investment silver available a year (Incl. Mined & recycled). Or 75 million ounces every 3 months...

The US mint has already sold 14.2 million ounces this year, that's nearly 20% of globally available investment silver for this period just on silver eagles. It simply isn't sustainable, especially as there are also no stockpiles of silver & the Southern Europeans are probably buying by the boatload.
Unbeatable is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Official Mint Silver Sales Surpass Domestic Silver Production in US & Canada in 2011 PMBug Silver Bug 5 04-05-2013 06:44 AM
US Mint Sales Down on AGE and ASE white&yellow999 PM Bug 5 04-05-2012 06:35 AM
US Mint sales of gold and silver eagles PMBug PM Bug 1 12-23-2011 01:45 PM
US Mint buys more gold, silver from Sunshine Minting PMBug PM Bug 0 11-10-2011 06:37 AM
US Mint sales up for Silver Eagle proofs PMBug Silver Bug 0 11-04-2011 05:50 PM


All times are GMT -5. The time now is 12:08 PM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.