Gold & Silver Eagle Sales Yearly Change Jan-AugAccording to the most recent data put out by the Official Government Mints, silver coin sales are outpacing gold in a big way.
Silver Eagle sales up to the first week of August reached a little more than 27 million compared to 30.3 million during the same period last year.  This was due to a big drop off in demand during June and July.  
In contrast, Gold Eagle sales declined a staggering 376,825 ounces (55%) from 683,325 oz in 2013 to 306,500 oz year to date.

 

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From the SRSRocco Report

Even though some of the Official Mints silver coins sales are down somewhat compared to the same period last year, gold sales are down more than three times the rate.

For example, while Silver Eagle sales are down 11% compared to the same period last year, Gold Eagle sales are down a whopping 55%… five times greater than the percentage of silver eagle sales.

Gold & Silver Eagle Sales Yearly Change Jan-Aug
Silver Eagle sales up to the first week of August reached a little more than 27 million compared to 30.3 million during the same period last year.  This was due to a big drop off in demand during June and July.  

In contrast, Gold Eagle sales declined a staggering 376,825 ounces (55%) from 683,325 oz in 2013 to 306,500 oz year to date.

Interestingly, silver sales at the Perth Mint fell at the exact same percentage as Silver Eagles.  For the first six months of the year, silver sales at the Perth Mint declined from 4,516,857 oz in 2013 to 4,006,342 oz — an 11% decline.

Perth Mint Sales  Yearly Change JAN-JUL new

However, Perth Mint gold sales fell 43% from 466,757 oz in the first half of 2013, to 266,094 oz during the same period this year.  Unfortunately, we only have data from the Royal Canadian Mint for the first quarter of 2014.  The Royal Canadian Mint’s Q2 2014 Report will not be released until later this month.

During the first quarter of 2014, Silver Maple sales increased 24% from 6.6 million in 2013 to 8.2 million this year.  And continuing with the same trend taking place in the other Government mints, Gold Maple sales declined 35% from 269,000 oz in the first quarter of 2013 down to 176,000 oz the same period this year.

Maple Leaf Sales Yearly Change 1st Quarter

It will be interesting to see if sales of Silver Maples remain strong in the second quarter of 2014.  I would assume that Silver Maple Leaf sales dropped moderately in June and July, same as with the Silver Eagle sales.  However, overall Silver Maple sales for the first half of the year may actually remain the same or slightly higher year-over-year due to the extremely strong demand in the first quarter.

I have been watching very closely the change in Official coin sales and market sentiment this year.  It is a very interesting phenomenon to watch sales of Official coins decline in the same percentage across the world.  Which brings back to a relevant memory in my past.

Years ago, when I was much younger attending college and working as a waiter, I would see this same kind of trend take place in the restaurant business.  There were days, out of the blue, that were extremely busy for no reason at all.  It wasn’t due to a holiday or special event, but all of a sudden, the restaurant would fill up and there would be a huge line at the door.

Because we were a late night restaurant-bar, we would get a lot of servers from other restaurants coming in for a drink and appetizer to relax after a busy night.  It was quite interesting to find out that they were just as surprised how extremely busy it was at their restaurants…. and for no apparent reason.

This is represents the collective mentality of the public.  Some days, the restaurant business was dead all over the city, and other days it was balls to the wall.  I remember having discussions with the management on this strange phenomenon.  However, they could never make any sense of these huge swings in business… they just replied by saying, “That’s the restaurant business for ya.”

The reason I brought up that example is to show that the public-market reacts in a collective mentality, for whatever reason.  And… for some strange reason, Silver Eagle sales during the first week of August shot up considerably, surpassing the weekly averages for the past two months in a large way.

Did Something Big Just Change In Official Silver Coin Demand?

Silver Eagle Sales Apr to Aug Weekly Averages

Going back four months to April, 1st week sales of Silver Eagles in August are 955,000 compared to the weekly average of 494,000 in July, 673,000 in June, 999,500 in May and 893,000 in April.  Basically, first week sales in August beat the weekly averages of all the past four months except for May.

I didn’t include the averages for January, February or March, because we all know that Silver Eagle sales were robust during the beginning of the year.  But for some reason, Silver Eagle sales declined in June and July considerably compared to the previous months as well as the same months last year.

Now, out of the blue, Silver Eagle sales are on track to reach nearly 4 million in August if this trend continues.   With all the geopolitical and market events currently taking place, silver investment demand may remain strong for the rest of the year.

RCM_Bald_Eagle


  1. Sorry but I have this disease called Stacking so from hence forth I will stop buying as I’m well over my goal and will now concentrate on other items for my survival but I will keep saying. Keep StackingLol

    • @Marchas45
       
      As we both know, Charlie, there is no cure for stackophilia.  But… there IS a treatment… and that is buying several ounces every month or so.  It really does make the itching stop for a while.  ;-)
       

    • Got it.  Now, my safe is full of the stuff and there is almost no more room to add any more.  BUT… there is enough room for some fiat that has been converted to shiny yellow.  :-)
       

  2. People had to recognize sooner or later (this appears to be the ‘later’) that gold is way over-valued against silver, although keeping an eye on the SGR makes it plain enough for one who tracks it.

    Once the banknote scheme implodes and the SGR corrects, there will be the opportunity to swap into the gold at a fabulous bargain along today’s silver-cost (in Labor). From this perspective, in banknote terms, it will be as though gold is then had for a little more than 300 notes today. I’ll see you in the fray.

    Money Is Weighed, Fictions Are Counted.

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