U.S. Mint June Silver Coin Sales At 4,651,429 Ounces – Record 2013 Likely

USMintThe recent price slump spurred demand for physical metal, with the U.S. Mint predicting last week that its gold and silver coin sales may reach a record in 2013.
The Austrian Mint sold about 2 million ounces of silver in April, compared with 8.8 million for all of 2012.
The U.S. Mint has sold 1,628,000 ounces of silver coins so far in June, according to figures on the Mint’s website. At that pace, total sales for the month would be 4,651,429 ounces, up 62.8% from a year earlier:

 

Silver Buffalo Rounds As Low As
$.99 Over Spot At SDBullion!

 

From Goldcore:

 

Today’s AM fix was USD 1,386.25, EUR 1,039.71 and GBP 885.33 per ounce.
Yesterday’s AM fix was USD 1,377.25, EUR 1,036.77 and GBP 878.40 per ounce.

Gold climbed $10.00 or 0.73% yesterday to $1,388.70/oz and silver surged to $22.012 and finished up 0.37%.


Silver in USD, 5 Year – (Bloomberg)

Silver continues to perform very poorly and is down 28% year to date to make it one of the worst performing commodities in the world and on track for its worst performance since 1984.

At the end of 2012, investors expected silver to be one of the biggest gainers in 2013, expecting a 33% return, a Bloomberg survey showed. Analysts expected silver to surge because either turmoil would boost demand for precious metals as a protection against inflation and currency debasement or accelerating growth would spur more industrial buying for everything from solar panels to batteries.


Total Known Silver ETF Holdings – (Bloomberg)

Investors are maintaining their belief in silver even as they lose faith in gold. While the amount of silver held through exchange-traded products is little changed this year, and within 5% of the record reached in March, gold holdings dropped 19%, data compiled by Bloomberg show.

Holdings of silver in ETPs rose 1.1 tons this year, compared with a 1,621-ton expansion in 2012, data compiled by Bloomberg show.

Silver investments stand at 18,905.8 metric tons, valued at $13.2 billion and enough to meet global demand for jewelry and silverware for almost three years. The value of gold ETP investments slumped 34% to $94.1 billion this year.

Investors for now are treating silver more like a precious metal than an industrial one, with its 30-week correlation coefficient to gold at 0.85, from 0.68 in 2011. A figure of 1 means the two move in lockstep.

Silver also tumbled into a bear market in April and is 56% below the record $49.8044 reached in April 2011. However, silver is up 63% in the last 5 years of the financial crisis, thereby protecting investors and savers globally from stock market crashes, bail-ins and currency debasement.


Precious Metals & Currency Ranked Returns in South African Rand

Hedge funds and other large speculators have turned bullish again after betting on lower prices as recently as mid-May, U.S. Commodity Futures Trading Commission data show. They are holding a net-long position of 1,230 futures and options, compared with a five-year average of 21,400 contracts.

Industrial demand may gain as the global economy improves, with the International Monetary Fund predicting growth of 3.3 percent this year and 4 percent in 2014, from 3.2 percent in 2012. About 50 percent of silver is used in industry, compared with 10 percent for gold, data from the Silver Institute and London-based World Gold Council show.

Consumption by industrial users will rise 1.7 percent to a three-year high of 14,625 tons this year and gain another 2.8 percent in 2014, Barclays Plc predicts. A car contains as much as 30 grams (1.1 ounces) and a mobile phone as much as 0.25 gram, according to Washington-based Silver Institute data.

The slump spurred demand for physical metal, with the U.S. Mint predicting last week that its gold and silver coin sales may reach a record in 2013.

The Austrian Mint sold about 2 million ounces of silver in April, compared with 8.8 million for all of 2012.


Cross Currency Table – (Bloomberg)

The U.S. Mint has sold 1,628,000 ounces of silver coins so far in June, according to figures on the Mint’s website. At that pace, total sales for the month would be 4,651,429 ounces, up 62.8% from a year earlier:

================================================================

Total

Ounces        YOY%        MOM%

================================================================

June 2013

Month-to-Date       1,628,000

Full month pace     4,651,429       62.8%       34.5%

—————————————————————-

May 2013             3,458,500       20.3%      -15.4%

April 2013           4,087,000      168.9%       21.8%

March 2013           3,356,500       32.0%       -0.4%

—————————————————————-

Feb. 2013            3,368,500      126.1%      -55.1%

Jan. 2013            7,498,000       22.8%      358.6%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

Dec. 2012            1,635,000      -18.6%      -48.3%

Nov. 2012            3,159,500      128.3%        0.2%

Oct. 2012            3,153,000        2.9%       -2.2%

Sept. 2012           3,225,000      -27.7%       12.4%

Aug. 2012            2,870,000      -22.0%       26.0%

July 2012            2,278,000      -23.2%      -20.3%

June 2012            2,858,000      -16.0%       -0.6%

May 2012             2,875,000      -21.3%       89.1%

—————————————————————-

April 2012           1,520,000      -46.1%      -40.2%

March 2012           2,542,000       -8.1%       70.6%

Feb. 2012            1,490,000      -54.0%      -75.6%

Jan. 2012            6,107,000       -4.9%      204.0%

Dec. 2011            2,009,000       13.4%       45.2%

Nov. 2011            1,384,000      -67.5%      -54.8%

Oct. 2011            3,064,000       -2.7%      -31.3%

Sept. 2011           4,460,500      137.3%       21.2%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

Aug. 2011            3,679,500       50.1%       24.0%

July 2011            2,968,000       -0.4%      -12.8%

June 2011            3,402,000       13.4%       -6.9%

May 2011             3,653,500        0.5%       29.6%

—————————————————————-

April 2011           2,819,000       12.4%        1.9%

March 2011           2,767,000      -18.2%      -14.6%

Feb. 2011            3,240,000       58.0%      -49.5%

Jan. 2011            6,422,000       78.8%      262.4%

Dec. 2010            1,772,000      -36.1%      -58.4%

Nov. 2010            4,260,000       64.7%       35.2%

Oct. 2010            3,150,000        7.2%       67.6%

Sept. 2010           1,880,000       10.4%      -23.3%

Aug. 2010            2,451,000       15.1%      -17.8%

July 2010            2,981,000        6.1%       -0.7%

June 2010            3,001,000       33.7%      -17.5%

May 2010             3,636,500       90.9%       45.0%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

April 2010           2,507,500       -0.4%      -25.8%

March 2010           3,381,000        8.0%       64.9%

Feb. 2010            2,050,000       -3.5%      -42.9%

Jan. 2010            3,592,500       89.1%       29.5%

Dec. 2009            2,773,500       28.5%        7.2%

Nov. 2009            2,586,500       26.2%      -12.0%

Oct. 2009            2,939,000      106.2%       72.6%

Sept. 2009           1,703,000       -6.7%      -20.0%

Aug. 2009            2,130,000       17.5%      -24.2%

July 2009            2,810,000      124.5%       25.2%

June 2009            2,245,000       29.4%       17.9%

May 2009             1,904,500       25.6%      -24.4%

—————————————————————-

April 2009           2,518,000       59.0%      -19.6%

March 2009           3,132,000       68.8%       47.4%

Feb. 2009            2,125,000      962.5%       11.8%

Jan. 2009            1,900,000      -12.4%      -12.0%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

Dec. 2008            2,158,500       -7.1%        5.3%

Nov. 2008            2,050,000       70.8%       43.9%

Oct. 2008            1,425,000      159.1%      -21.9%

Sept. 2008           1,825,000      138.6%        0.7%

Aug. 2008            1,813,000       55.6%       44.9%

July 2008            1,251,500      209.0%      -27.9%

June 2008            1,735,500      269.3%       14.5%

May 2008             1,516,000      283.8%       -4.3%

—————————————————————-

April 2008           1,584,000      465.7%      -14.6%

March 2008           1,855,000      143.4%      827.5%

Feb. 2008              200,000      -60.0%      -90.8%

Jan. 2008            2,170,000      102.8%       -6.6%

Dec. 2007            2,324,500       41.7%       93.6%

Nov. 2007            1,200,500      515.6%      118.3%

Oct. 2007              550,000       93.0%      -28.1%

Sept. 2007             765,000       39.1%      -34.3%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

Aug. 2007            1,165,000      182.1%      187.7%

July 2007              405,000       -2.9%      -13.8%

June 2007              470,000      -38.2%       19.0%

May 2007               395,000      -66.7%       41.1%

—————————————————————-

April 2007             280,000      -79.9%      -63.3%

March 2007             762,000      -28.9%       52.4%

Feb. 2007              500,000      -49.6%      -53.3%

Jan. 2007            1,070,000       -4.0%      -34.8%

Dec. 2006            1,640,000      -23.5%      741.0%

Nov. 2006              195,000      -73.1%      -31.6%

Oct. 2006              285,000      -28.8%      -48.2%

Sept. 2006             550,000      -24.1%       33.2%

Aug. 2006              413,000      -32.8%       -1.0%

July 2006              417,000       17.5%      -45.1%

June 2006              760,000       90.0%      -35.9%

May 2006             1,186,000      276.5%      -15.0%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

April 2006           1,395,000      190.6%       30.1%

March 2006           1,072,000       64.9%        8.0%

Feb. 2006              993,000       98.6%      -10.9%

Jan. 2006            1,115,000        1.8%      -48.0%

Dec. 2005            2,145,000      -18.2%      195.9%

Nov. 2005              725,000       47.2%       81.3%

Oct. 2005              400,000       25.0%      -44.8%

Sept. 2005             725,000       25.0%       17.9%

Aug. 2005              615,000       97.7%       73.2%

July 2005              355,000      108.8%      -11.3%

June 2005              400,000      -20.8%       27.0%

May 2005               315,000      -65.6%      -34.4%

—————————————————————-

April 2005             480,000      -29.4%      -26.2%

March 2005             650,000       86.8%       30.0%

Feb. 2005              500,000      -61.0%      -54.3%

Jan. 2005            1,095,000      -21.4%      -58.2%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

Dec. 2004            2,622,500       32.1%      432.5%

Nov. 2004              492,500       33.1%       53.9%

Oct. 2004              320,000      -54.6%      -44.8%

Sept. 2004             580,000       22.1%       86.5%

Aug. 2004              311,000      -41.9%       82.9%

July 2004              170,000      -39.3%      -66.3%

June 2004              505,000        7.9%      -44.8%

May 2004               914,500      273.3%       34.5%

—————————————————————-

April 2004             680,000       56.7%       95.4%

March 2004             348,000      -60.3%      -72.8%

Feb. 2004            1,281,000       21.4%       -8.0%

Jan. 2004            1,392,500      -19.3%      -29.8%

Dec. 2003            1,985,000      -20.3%      436.5%

Nov. 2003              370,000      111.4%      -47.6%

Oct. 2003              705,500      355.2%       48.5%

Sept. 2003             475,000      -13.6%      -11.2%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

Aug. 2003              535,000      -69.3%       91.1%

July 2003              280,000      -62.2%      -40.2%

June 2003              468,000      -32.7%       91.0%

May 2003               245,000      -50.5%      -43.5%

—————————————————————-

April 2003             434,000      -46.7%      -50.5%

March 2003             876,000        9.9%      -17.0%

Feb. 2003            1,055,000       16.6%      -38.8%

Jan. 2003            1,725,000       88.8%      -30.7%

Dec. 2002            2,490,000       73.3%     1322.9%

Nov. 2002              175,000      -83.0%       12.9%

Oct. 2002              155,000      -81.6%      -71.8%

Sept. 2002             550,000        0.0%      -68.5%

Aug. 2002            1,745,000      267.8%      135.8%

July 2002              740,000       18.5%        6.5%

June 2002              695,000       48.8%       40.4%

May 2002               495,000       16.2%      -39.3%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

April 2002             815,000       45.0%        2.3%

March 2002             797,000        1.4%      -11.9%

Feb. 2002              905,000        6.9%       -0.9%

Jan. 2002              913,500       17.2%      -36.4%

Dec. 2001            1,436,500      -27.3%       39.3%

Nov. 2001            1,031,500       77.7%       22.3%

Oct. 2001              843,500      118.2%       53.4%

Sept. 2001             550,000       85.5%       15.9%

Aug. 2001              474,500       85.7%      -24.0%

July 2001              624,500       25.0%       33.7%

June 2001              467,000      -36.8%        9.6%

May 2001               426,000      -53.9%      -24.2%

—————————————————————-

April 2001             562,000      -30.1%      -28.5%

March 2001             786,000       -7.7%       -7.1%

Feb. 2001              846,500        4.7%        8.6%

Jan. 2001              779,500      -22.9%      -60.5%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

Dec. 2000            1,975,000       15.0%      240.2%

Nov. 2000              580,500       58.6%       50.2%

Oct. 2000              386,500       10.7%       30.4%

Sept. 2000             296,500      -57.3%       16.0%

Aug. 2000              255,500      -66.7%      -48.8%

July 2000              499,500      -26.4%      -32.4%

June 2000              738,500      -14.4%      -20.2%

May 2000               925,000       16.8%       15.0%

—————————————————————-

April 2000             804,500       12.0%       -5.5%

March 2000             851,500       18.6%        5.3%

Feb. 2000              808,500      442.6%      -20.1%

Jan. 2000            1,011,500      -15.4%      -41.1%

Dec. 1999            1,718,000      587.2%      369.4%

Nov. 1999              366,000      -42.4%        4.9%

Oct. 1999              349,000      -62.1%      -49.7%

Sept. 1999             694,000       54.2%       -9.6%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

Aug. 1999              768,000       31.3%       13.2%

July 1999              678,500      384.6%      -21.4%

June 1999              863,000      475.3%        9.0%

May 1999               792,000       93.2%       10.3%

—————————————————————-

April 1999             718,000      857.3%        0.0%

March 1999             718,000      395.2%      381.9%

Feb. 1999              149,000       49.0%      -87.5%

Jan. 1999            1,195,000      159.8%      378.0%

Dec. 1998              250,000      -71.6%      -60.6%

Nov. 1998              635,000      182.2%      -31.0%

Oct. 1998              920,000      283.3%      104.4%

Sept. 1998             450,000      150.0%      -23.1%

Aug. 1998              585,000      800.0%      317.9%

July 1998              140,000      -54.1%       -6.7%

June 1998              150,000      -31.8%      -63.4%

May 1998               410,000       54.7%      446.7%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

April 1998              75,000      -73.8%      -48.3%

March 1998             145,000       -3.3%       45.0%

Feb. 1998              100,000      -74.0%      -78.3%

Jan. 1998              460,000        5.7%      -47.7%

Dec. 1997              880,000      -34.5%      291.1%

Nov. 1997              225,000      -53.6%       -6.3%

Oct. 1997              240,000       -4.0%       33.3%

Sept. 1997             180,000       71.4%      176.9%

Aug. 1997               65,000      -71.7%      -78.7%

July 1997              305,000      306.7%       38.6%

June 1997              220,000      -15.4%      -17.0%

May 1997               265,000      960.0%       -7.3%

—————————————————————-

April 1997             286,000       63.4%       90.7%

March 1997             150,000      -63.7%      -61.0%

Feb. 1997              385,000      413.3%      -11.5%

Jan. 1997              435,000     1350.0%      -67.6%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

Dec. 1996            1,343,000      -28.4%      176.9%

Nov. 1996              485,000       56.5%       94.0%

Oct. 1996              250,000      400.0%      138.1%

Sept. 1996             105,000      -30.0%      -54.3%

Aug. 1996              230,000      206.7%      206.7%

July 1996               75,000      -40.0%      -71.2%

June 1996              260,000       92.6%      940.0%

May 1996                25,000      -86.5%      -85.7%

—————————————————————-

April 1996             175,000      -30.0%      -57.6%

March 1996             413,000      -21.3%      450.7%

Feb. 1996               75,000      -73.7%      150.0%

Jan. 1996               30,000      -95.2%      -98.4%

Dec. 1995            1,875,000      -25.3%      504.8%

Nov. 1995              310,000      148.0%      520.0%

Oct. 1995               50,000      -77.8%      -66.7%

Sept. 1995             150,000         n/a      100.0%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

Aug. 1995               75,000      -80.0%      -40.0%

July 1995              125,000      -45.7%       -7.4%

June 1995              135,000       35.0%      -27.0%

May 1995               185,000      -64.8%      -26.0%

—————————————————————-

April 1995             250,000       42.9%      -52.4%

March 1995             525,000       16.7%       84.2%

Feb. 1995              285,000      -17.4%      -54.4%

Jan. 1995              625,000       30.2%      -75.1%

Dec. 1994            2,510,500      188.6%     1908.4%

Nov. 1994              125,000        0.0%      -44.4%

Oct. 1994              225,000      350.0%         n/a

Sept. 1994                   0     -100.0%     -100.0%

Aug. 1994              375,000      -31.8%       63.0%

July 1994              230,000       -8.0%      130.0%

June 1994              100,000      -78.0%      -81.0%

May 1994               525,000        5.0%      200.0%

================================================================

Total

Ounces        YOY%        MOM%

================================================================

April 1994             175,000      -58.8%      -61.1%

March 1994             450,000      -11.8%       30.4%

Feb. 1994              345,000      -59.4%      -28.1%

Jan. 1994              480,000      -41.8%      -44.8%

Dec. 1993              870,000      -21.5%      596.0%

Nov. 1993              125,000      -80.0%      150.0%

Oct. 1993               50,000      -74.4%      -89.6%

Sept. 1993             480,000       20.0%      -12.7%

Aug. 1993              550,000       14.6%      120.0%

July 1993              250,000      -19.4%      -45.1%

June 1993              455,000       51.7%       -9.0%

May 1993               500,000       92.3%       17.6%

—————————————————————-

April 1993             425,000       37.1%      -16.7%

================================================================
SOURCE: U.S. Mint

Societe Generale see silver outperforming gold in the second half of 2013.

Silver’s poor performance is despite still strong fundamentals. Even a small increase in store of wealth demand due to ongoing currency debasement will propel prices much higher.

Contrarian buyers continue to accumulate on this latest dip and silver will continue to protect from financial and economic dislocations.

NEWS
Gold extends gains as stocks, dollar tumble – Reuters

Gold Swings as Investors Weigh Stimulus Outlook, Dollar Decline – Bloomberg

EU Countries Disguising True Financial Position – Irish Times

Japan Stocks Fall as Nikkei 225 Enters Bear Market – Bloomberg

COMMENTARY
‘Disorderly’ bursting of biggest bond bubble in history is biggest risk to financial stability – The Telegraph

Silver’s Monetary Return
– Silver Coin Investor

This Is What Crisis Feels Like, A Personal Story  – Sovereign Man

Don’t Dismiss the Possibility of Gold Confiscation
-24hGold

 

2013 Silver Eagles As Low As $2.99 Over Spot!

2013 San Francisco Mint ASE’s As Low As $3.29 Over Spot!

Comments

  1. totally dishonest in the prognostication for june numbers. They clearly shove some may sales in there. Let the sales of eagles stand on their own, rather than continuing the hopium by doing intellectually dishonest mathematics exercises.

  2. Before halfway into a month coming up with a total month sale. Did that work well in April?
    Seems they are prepapring for a July article where June sales ended up a bitter disappointment, physical is falling, retail market saturated, etc.

  3. Yes it will be something like that. The last week and a half of May they didn’t updated the may sales as I already stated in an other quote. They added 750K to June (for what? hiding the succes of May? When they do this everymonth they can average the numbers?)

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