US Mint sales of gold and silver

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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.
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.
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]
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.
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.
US Mint sales impress..

"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."
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...
My ratio was 25:1. Bought 50 silver maples and 2 gold ones yesterday.

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


Double ugh as prices keep dropping.

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

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?


Don't look at your P&L. Unless you are a trader that is... :)
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.
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?

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.
When the decoupling happens, it's going to be epic. :paperbag:

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.
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?


Ignore the spot price and take a look around your local coin stores. In my area, palladium is non-existent, platinum is only seen in the occasional high priced proof coins, silver eagles are going for ~5 dollars over spot if you can find them, and gold eagles (spot + $99) are the only gold that is regularly in stock.
Q1 2013 US Silver Eagle Sales Beats All Records

All the numbers are bot in yet but look at the detail in the link !

Only a week ago, we wrote how the physical silver investment demand is historically high. We got to that conclusion based on the physical holdings of all silver ETF’s combined, as well as the 2013 US Silver Eagle coin sales.

This is the table we published exactly one week ago. It shows the Q1 sales of each year since 2008. Obviously, March 2013 was not complete at that moment in time.

Today’s US Mint figures show an astonishing increase of almost a million ounces over the past week. March 2013 stands now at 3,356,500 silver ounces sold. Replace the latest figure in the above table with the most actual one, and it becomes clear how this is the best first quarter ever (the figures before 2008 were consistently lower).

Now we did an easy but interesting exercise. The first quarter of 2013 saw sales of 14,2 million ounces of US Silver Eagles. We compared this Q1 2013 figure with the total of each year since this giant gold & silver bull market started in 2001. The comparison needs no additional comment (but readers should feel free though to comment in the section below).

Q1 2013 equals 42% of total 2012 US Mint sales of Silver Eagles
•Q1 2013 equals 35% of total 2011 US Mint sales of Silver Eagles
•Q1 2013 equals 41% of total 2010 US Mint sales of Silver Eagles
•Q1 2013 equals 49% of total 2009 US Mint sales of Silver Eagles
•Q1 2013 equals 72% of total 2008 US Mint sales of Silver Eagles
•Q1 2013 is already 40% higher than total 2007 US Mint sales of Silver Eagles
•Q1 2013 is already 42% higher than total 2006 US Mint sales of Silver Eagles
•Q1 2013 is already 69% higher than total 2005 US Mint sales of Silver Eagles
•Q1 2013 is already 47% higher than total 2004 US Mint sales of Silver Eagles
•Q1 2013 is already 56% higher than total 2003 US Mint sales of Silver Eagles
•Q1 2013 is already 41% higher than total 2002 US Mint sales of Silver Eagles
•Q1 2013 is already 61% higher than total 2001 US Mint sales of Silver Eagles :wave:
& they're already listing 812 000 sold for April... (Obviously big amount carried over from March)

& over 15 million ounces sold YTD.
The US Mint has updated April sales statistics for the first time since last week, and to no surprise, the Mint again reported more massive sales, with another 833,000 silver eagles reported sold Monday! The April total through 6 business days is now 1.645 million ounces, bringing the 2013 total to a massive 15.868 million ounces.
In response to the continued massive demand for silver eagles, the mint also has begun rationing sales of silver eagles to primary dealers resulting in supply delays!
Just as was seen in January, tight physical supplies have seen premiums on ASE’s skyrocketing over the weekend and throughout the day, as ASE’s are rapidly becoming as scarce as 90%!

I couldn't find any corroboration to The Doc's claims about the rationing of ASE sales (yet?).
A few of those silver ounces are reserved (ie. bought, but not yet delivered) for me. :silver:
The U.S. Mint has temporarily suspended sales of its one-tenth ounce American Eagle gold bullion coins because of inventory depletion due to strong demand, but continues to offer the one-ounce, one-half ounce and one-quarter ounce coins.

In a memo to its authorized purchases late Monday, the Mint said that gold coins sales in total ounces has been up more than 100 percent year to date over the same period last year.
Roughly a million a week. That sounds sustainable.
Chart porn courtesy of :


US Mint resumes production/sales of 1/10 ounce gold eagles:
The U.S. Mint has resumed selling its 2013 American Eagle One-Tenth Ounce Gold Proof Coin at a hefty $195 per coin as of late Tuesday.

In a memo Tuesday to its authorized coin dealers, the Mint has set a 20,000-coin production limit for the one-tenth ounce bullion coin—without a limit per household.

Sales of its smallest U.S. gold coin was suspended by the Mint in late April as year-to-date demand at that point in time had increased by more than 118%. Sales were suspended until inventories could be replenished.

Also on Tuesday, the Mint lifted purchase limits on the America the Beautiful five-ounce silver bullion coins.

Figures on the U.S. Mint gold sales totals site late Tuesday revealed 50,000 one-tenth ounce gold coins have been sold thus far for this month, with a total of 350,000 one-tenth ounce gold coins sold so far this year. This compares to total sales of 315,000 one-tenth ounce gold coin sales for the entire year of 2012.

Meanwhile, a U.S. Mint spokesman told Reuters that the agency will continue to limit purchases of the American Eagle one-ounce silver coins. Sales of the silver bullion coin were suspended earlier this year due to record-breaking demand. Silver American Eagle bullion coin sales have hit 3,458,500 ounces sold so far this month and a total of 21,768,500 ounces thus far since January 2013.

In June my wife and I will be go to Canada. I will report to how available gold & silver are up there. I hear it is easy to buy gold at banks, we will see.

I am particularly interested in the availability of fractional gold (esp. 1/10 and 1/4 oz sizes) of Maples.
Yeah they must have put the 'sold year to date total' in the July column & that's what was showing up.

2.5 million is still a good total, as I saw they up dated that on 16th of July, so still a lot of the month left to go.
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