By The DocSRSrocco

In the midst of a 2 month price consolidation for both gold and silver, US Mint gold and silver eagle sales exploded in November, coming in a 3,159,500 oz of ASE’s, the 3rd highest monthly total for 2012, and 136,500 oz of AGE’s, by far the highest monthly gold sales for the US Mint for 2012.

While silver eagle sales were strong, the story is in gold eagle sales, which roared back to life in the wake of Obama’s re-election The silver/gold sales ratio narrowed to 23/1, after reaching such extremes as 74/1 as recently as August.
The 136,500 oz gold eagle sales total was nearly triple the October sales total of 59,000, and was up an astonishing nearly 4 fold year over year from Nov 2011, which saw 41,000 oz sold.   November silver eagle sales were nearly as strong, up 2.5 fold year over year from 1,384,000 sold in November 2011.

 


While annual sales totals for gold and silver eagles will fall well short of 2011 records, the recent massive increase in demand indicates that the next up-leg in the secular gold and silver bull markets will likely be extraordinary and unprecidented.

Got PHYZZ??
2012 US Mint Gold Eagle sales courtesy SRSrocco:

2012 Gold Sales Totals
(in ounces / number of coins)

Month One
( oz. / #coins )
Half
( oz. / #coins )
Quarter
( oz. / #coins )
Tenth
( oz. / #coins )
Total
( oz. / #coins )
January 84,500
84,500
24,500
49,000
9,500
38,000
8,500
85,000
127,000
256,500
February 20,000
20,000
0
0
500
2,000
500
5,000
21,000
27,000
March 57,500
57,500
1,000
2,000
0
0
4,000
40,000
62,500
99,500
April 19,000
19,000
0
0
500
2,000
500
5,000
20,000
26,000
May 49,000
49,000
1,500
3,000
1,000
4,000
1,500
15,000
53,000
71,000
June 55,000
55,000
1,000
2,000
1,500
6,000
2,500
25,000
60,000
88,000
July 28,500
28,500
0
0
500
2,000
1,500
15,000
30,500
45,500
August 34,000
34,000
1,500
3,000
1,000
4,000
2,500
25,000
39,000
66,000
September 63,000
63,000
1,000
2,000
1,000
4,000
3,500
35,000
68,500
104,000
October 54,000
54,000
1,000
2,000
1,000
4,000
3,000
30,000
59,000
90,000
November 129,500
129,500
2,500
5,000
1,000
4,000
3,500
35,000
136,500 oz
173,500
December 0
0
0
0
0
0
0
0
0
0
Total 594,000
594,000
34,000
68,000
17,500
70,000
31,500
315,000
677,000 oz
1,047,000

 

2011 Gold Sales Totals
(in ounces / number of coins)
Month One
( oz. / #coins )
Half
( oz. / #coins )
Quarter
( oz. / #coins )
Tenth
( oz. / #coins )
Total
( oz. / #coins )
January 130,500
130,500
500
1,000
500
2,000
2,000
20,000
133,500
153,500
February 72,500
72,500
6,000
12,000
4,000
16,000
10,000
100,000
92,500
200,500
March 60,500
60,500
4,000
8,000
5,000
20,000
4,000
40,000
73,500
128,500
April 94,500
94,500
6,000
12,000
3,500
14,000
4,000
40,000
108,000
160,500
May 93,500
93,500
11,000
22,000
1,000
4,000
1,500
15,000
107,000
134,500
June 56,000
56,000
0
0
2,000
8,000
3,500
35,000
61,500
99,000
July 61,500
61,500
1,500
3,000
0
0
1,500
15,000
64,500
79,500
August 103,500
103,500
1,500
3,000
1,500
6,000
5,500
55,000
112,000
167,500
September 87,500
87,500
500
1,000
500
2,000
2,500
25,000
91,000
115,500
October 46,000
46,000
1,500
3,000
1,500
6,000
1,000
10,000
50,000
65,000
November 38,500
38,500
0
0
1,000
4,000
1,500
15,000
41,000 oz
57,500
December 65,500
65,500
0
0
0
0
0
0
65,500
65,500
Total 910,000
910,000
32,500
65,000
20,500
82,000
37,000
370,000
1,000,000 oz
1,427,000

 

 

2012 Silver Sales Totals
(in ounces / number of coins)

Month One
( oz. / #coins )
January 6,107,000
6,107,000
February 1,490,000
1,490,000
March 2,542,000
2,542,000
April 1,520,000
1,520,000
May 2,875,000
2,875,000
June 2,858,000
2,858,000
July 2,278,000
2,278,000
August 2,870,000
2,870,000
September 3,255,000
3,255,000
October 3,153,000
3,153,000
November 3,159,500
3,159,500
December 0
0
Total 32,107,500
32,107,500

 

 

2011 Silver Sales Totals
(in ounces / number of coins)
Month One
( oz. / #coins )
January 6,422,000
6,422,000
February 3,240,000
3,240,000
March 2,767,000
2,767,000
April 2,819,000
2,819,000
May 3,653,500
3,653,500
June 3,402,000
3,402,000
July 2,968,000
2,968,000
August 3,679,500
3,679,500
September 4,460,500
4,460,500
October 3,064,000
3,064,000
November 1,384,000
1,384,000
December 2,009,000
2,009,000
Total 39,868,500
39,868,500
    • Agreed, the surge in gold eagle sales is from big $$$ investors, not the general public.  The problem with acquiring several million dollars worth of physical silver is that it is heavy and takes up a lot of space.  On the other hand, you can fit several million dollars worth of gold eagles in two shoe boxes.

    • Perhaps maybe the other big investors are buying gold American Eagles because they are worried that paper gold aren’t backed by actual physical gold and that they might accidentally buy some tungsten plated with gold. 
       

  1. Looks like a trend buying market. Hardly any stacking going on at low prices.
    Overall, a slower sales year than 2011. Unless customers get reeeaaal crazy in December.

    Would the gold sales be picking up due to CB rumors?

    • It’s normal that last year, sales were very high because gold and silver’s prices were also very high and it attracted a lot of new buyers. In 2011, gold was at about 1900$ per ounce and silver at about 50$ per ounce.

    • Wholeheartedly agree. I’d buy platinum (now) before gold as long as it’s priced lower. However, there is 21% VAT on platinum here, which negated its appeal to me. Perhaps if I were to find myself in Switzerland I could buy some and just walk into the EU with it in my wallet? Mailordering it will see me ponying up big time.

    • I tend to agree Patt. Pt has been way undervalued in relation to Au for some time. If there is ever a new or revolutionary technology that requires Pt look out, it could be like what the cadylitic converter was for Palladium. Otherwise it is still a fantastic store of wealth in a small space.

    • I agree Pat, two years ago a friend on another forum hounded me to buy Platinum just close to $500.00 and I didn’t listen. Now I’m kicking myself. O’ Well if I win the lotto then maybe I can buy some now. Lol

    • I would also be interested at stacking some physical platinum but the problem is that my local coin shops don’t sell them. I’ve only seen once a one fourth of an ounce of platinum for sale about two months ago but the premium was very high.

  2. One interesting observation of human nature is for the volume of Gold sales to increase when the price is on the upswing.
    This is an opportunity for savvy folks* who trade Phyzz AU to make a nice profit!

    *Folks who have tens of thousands of dollars to gamble with, that is. 

  3. While encouraging, no need to hype it up as ZH did. The biggest sale EVER took place right after the Washington agreement was signed (September 1999). However, the amount of dollars was less considering gold was hitting decade lows. Shortly after that, the financial world almost ended which is what FOA and ANOTHER were writing about.

  4. @Mammoth: The Au & Ag yearly sales charts above do show that when the PMs were their at least expensive, there were fewer sales. Makes one wonder why Big Money waits! I’m sure there is a good reason for it. I’m just to ignorant to understand it. Guess I’ll continue with the K.I.S.S. system–”Keep It Simple Stupid”, works for me!

  5. I wonder if there are a lot of physical gold that are sold worldwide on November. My local coin shop finally got some gold for sale after more than two months but this time, I don’t have any more dollars so I can’t buy the gold. :(

    • @Sumkid: I’ve heard that if all the gold (silver too) ever mined could fit in a small cube. I think the size of that cube would have to be much larger that what some say. Billions of wedding rings, necklaces, the coins, bracelets, & bars… It may be true but untill I see it I can’t believe it.

  6. Yesterday I did some reading on platinum, which I should have done before. Seems platinum didn’t always have a 1+ ratio to gold. On the contrary. As it’s such an industrial metal, and this world being about debt, I have just turned relatively bullish on gold. I’ll stick to silver though.

  7. Yes, a small cube.
    The thing of course with cubes…if it were twice as tall, it would contain 8 times as much.

    With silver, about 10-15x perhaps having been mined since the beginning of time, the coube would be twice as tall. But then factoring in the kinds of applications (with little or no recycling after use), the above-ground cube of silver might be quite small. New large purchases of silver are fulfilled in brand new bars. we can assume them resmelted from old vault stock (totally unnecessarily so), but realistically it was just freshly mined.

    The ever-thinning ore grades,  a fact of life, make for pretty impressive amounts of ore to be dug up in order to double the every mined qty’s.

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