Global Mints See Strong Silver Sales For A Second Year

/, Popular Silver Coins, Silver/Global Mints See Strong Silver Sales For A Second Year

Global Mints See Strong Silver Sales For A Second Year

Silver bullion coin sales had another strong year in 2014, according to data from the U.S. Mint, the Royal Canadian Mint and the Perth Mint.

For the U.S. Mint, 2014 was a new record year for silver bullion demand as they announced on Dec. 24 that they had sold out of 2014 denominated American Eagle Silver Coins. The mint set a new personal record, selling more than 44 million coins.

Although the data is not complete for the Canadian mint, accord to their quarterly reports, silver sales in first nine-months of 2014 outpaced its sales during the same timeframe compared to 2013.

According to the reports, the Canadian mint sold 20.8 million ounces of silver as of September, up compared to 20.7 million ounces in 2013. The Canadian mint said in its 2013 annual report, released in January, it had sold 28.2 million ounces of silver – record levels, so far.

However, the Perth Mint’s silver sales were lower in 2014 compared to last year. Sales data provided by the Australian-based mint, showed that almost 7.09 million ounces of silver were sold between January and November, down compared to 7.799 million ounces of silver sold in 2013 during the same time period.

January was the busiest month for the Australian-based mint as it sold more than 912,000 ounces of silver during the month. Its slowest month was April as more than 361,000 ounces of silver were sold.

In an email response to Kitco News, the Perth Mint said that it won’t have December’s sales data available until January.

Demand for silver has been strong as silver prices have dropped significantly during the year. This year Comex Silver futures opened 2014 at $19.440 an ounce and closed Wednesday at $15.680, a decline of more than 19% on the year.

Although silver sales at all three mints have been strong, gold sales have been lackluster compared to 2013.

According to data from the U.S. Mint, as of Dec. 26, a total of 702,000 ounces of gold – from American Eagle and American Buffalo coins – have been sold this year, down almost 36% compared to 1.095 million ounces sold in 2013.

In the first nine months of the year the Canadian mint reported that it had sold a total of 474,000 ounces of gold, down significantly compared to 876,000 ounces sold during the same time period in 2014. In its annual report, the Canadian mint said that it sold more than 1.14 million ounces in 2013.

Finally, the Australia-based mint reported that it sold more than 475,000 ounces of gold between January and November, down from almost 611,000 ounces gold in all of 2013.


Read the original article here.

User Review
0 (0 votes)
By | 2014-12-30T13:55:02-06:00 December 30th, 2014|Coins, Popular Silver Coins, Silver|Comments Off on Global Mints See Strong Silver Sales For A Second Year

About the Author: