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Gold and Silver Bullion Coin Sales Robust as Precious Metals Sell Off
Despite the recent bout of price weakness, gold American eagle coin sales from the U.S. Mint have picked up significantly from last month.
The latest bullion coin sales figures from the U.S. Mint show a tentative pickup and robust retail bullion demand, with September sales stronger for both the American Eagle and American Buffalo gold coins as well as for the American Eagle silver 1oz coins.
U.S. Mint Gold Buffalo Bullion Coin (1 oz)
Month-to-date for September, gold Eagle sales across all coin sizes have already reached 43,200 oz compared to total gold Eagle sales of 25,000 oz in August. This is also well ahead of September 2013, when total gold Eagle sales for the month only touched 13,000 oz.
Year-to-date American Eagle sales have now reached 364,200 oz.
Gold American Buffalo 1 oz sales so far this month have reached 10,500 oz, up from 8,000 oz in August, and 5,500 oz in July. With a strong first quarter, year-to-date American Buffalo sales are now running at a cumulative 135,500 oz for 2014.
Taken together, U.S. Mint gold Eagle and Buffalo sales for 2014 have now reached 500,000 troy oz, or 15.5 tonnes.
While this gold total falls short of the 1.1 million ozs of gold coins sold by the US Mint in 2013, if Q4 of 2014 continues the trend seen in Q3, then total gold sales by the Mint could reach just shy of 700,000 oz for all of 2014, which demonstrates an element of resilience in the face of the ongoing gold price weakness.
Silver American Eagle 1 oz sales are also stronger for the month-to-date, at 2.42 million ozs compared to 2.0075 million ozs for the full month of August.
While these monthly totals are weaker than the monthly sales in August and September 2013, which came in at 3.625 million ozs and 3.103 million ozs respectively, the year-to-date silver total for 2014 is running at a relatively strong 30.53 million ozs, and if the trend continues, silver sales may finish 2014 in the region of 40 million ozs which compares well with the 2013 silver sales total of 42.675 million ozs. This is because although 2013 silver sales has a very strong start compared to 2014, this year has seen relatively strong sales across most months.
The U.S. Mint is unusual in that its gold and bullion coin sales figures are updated very frequently and, as far as possible, the figures include sales activity in the most recent week or previous week.
Working stock of gold bars in the United States Mint Facility in West Point, New York - Bloomberg
Other government mints such as the Royal Canadian Mint and the Royal Mint in Britain do not have such real time bullion sales reporting. Publically available bullion coin sales data from these institutions has to be sourced from their quarterly, half yearly and annual report updates.
However, in Australia, the Perth Mint does release monthly data on gold and silver coin and bar sales with a one month lag. Data for August shows gold sales stronger at 36,369 ozs compared to 25,103 ozs in July, with silver sales also up strongly at 818,856 ozs compared to 577,988 ozs in July.
Overall, the U.S. Mint bullion sales figures, due to their real-time nature, are used extensively in the industry as a proxy for retail gold and silver investor sentiment, and are even included in a number of well known bullion bank commodity and precious metals research reports.
While extrapolating the U.S. Mint figures to other Mint bullion sales requires caution, the sales trends of the U.S. Mint tend to be confirmed when quarterly data from the Mint's main competitors is put into the public domain.
Smart money continues to accumulate bullion as prices are pushed lower.
By Ronan Manly, Editor Mark O’Byrne
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I just can't imagine why so many of us have fallen for the gold trade. The almighty Federal Reserve is bent on crashing gold back to $800. or less per oz. Just watch them, they may in fact bring her right on down to $8.00 just to play it safe, and why not, what's stopping them.
Now the price of gold is so low you would think the US government would print enough money to buy some and return the gold to Germany.
Thats sure alot of gold, but where's the SILVER?
They had some but I made a small buy yesterday. Now it's at the bottom of Lake Winnamucca off the eastern bank near an excellent crappie hole.
So the Mofos in charge in the District of Criminals, POS Mercs, etc, raid small countries, kill the security guards, bribe foreign traitors to look the other way, as in Libya and Ukraine to name TWO gold banks raided. Then they heist the gold, as they did below the WTCs on 911.
So I wonder where exactly these stolen tons of gold eventually go?
Sales are robust because only the most obtuse individuals can't see where this is headed. WallSt./Washington in their fear, have monkeyhammered prices below the cost of production. In short, little downside, incalculable upside. As an aside, I believe that photo of gold bars is shopped.
So John Q Public bought 15 tons of old this year.
Same unknown buyer(s)bought 30 tons of AGE coins last year.
Some day these gold and silver coins dropping into the pond may make a difference. Raise all boats, so to speak
Keep Boating My Friends!
I, for one, am glad they haven't wasted anymore of my tax dollars on painting the walls. Paint is pretty expensive, and painters charge a lot of money. See...the government is efficient after all.
Anyone else notice the recent and pronounced spread spike between the spot and actual physical delivery lately? That fact alone speaks louder than anything ...
Whats up with all the graffiti in the background behind the flag ???
Not graffiti, shows where the one and only gold rack is to be placed.
This is a staged photo shoot impressing someone, nobody lines racks up against a wall with a conduit run that has a recepticle.
I like the flag. In the hinterlands- "yup, this here guld must be in Amurca. Yup."
That and the power outlet on the wall for scale. So no one will look too carefully at the stacks of Wonka bars in the foreground.
If you enhanced that image enough, you would probably see that the outlet is whatever is commonly used in China.
American flag hanging against an unpainted concrete wall. Looks like a drug addict's basement.
Hard to tell what the premium is here. If the supplier is the Federal Government of the United States it might be absolutely huge.
No shortage of jewelry stores where I live. Sure is a shortage of customers though.
High or low prices, I'm a buyer of Physical (of course) every month.
Next order date, a week today...
Monster Boxes cracked 10K.
Debating on waiting ‘til lower….
Thoughts on 8k?
Yo p00kie,
Watch the BRICs, esp. China and Russia. When they declare their vaults full, then real price discovery will begin. Until then, I expect the stuff to edge lower.
OBTW: This could happpen as early as this year...
It will take a few years for them to do that. Solely for the purpose of letting the US dig a deeper hole.
Cheap bastards can't even afford a coat of paint for their vault? Looks photoshpped out of someones garage.
Germany would like a cut of those bars.
Dear Bundesbank,
Your German gold bars are in the mail....we used surface mail due to the weight restrictions. We got a good freight handling price on this nice Chinese cargo ship, registered in Panama or thereabouts.
You can track your shipment on http://www.ny.frb.org/data-and-statistics/
Use the gold bar tracking form at the end of the page. Some users may need to downgrade their browser to Mosaic 1.0 to experience this functionality.
Yours sincerely,
Bill Dudley
The bars need a bit more time, they need to ripen. Let's wait some ehm ..... 7 years, ok?
Why do they have a massive flag in the background?
The bigger the flag the bigger the corruption?
http://static.guim.co.uk/sys-images/Guardian/About/General/2013/7/9/1373...
That looks like a fairly new photo of gold bars at the US mint. I wonder how much they have? Where did those bars come from? I estimate about 10 tons in that photo.
Latitude 25
Bars were s
"saved" from possible invasion of Kiev by the Russians. Now safe.
Not even double stacked pallets from the looks of it. Nice gold porn there though for the average Joe.
I'm guessing they buy it on the open market, being an entitiy that must take delivery based on how much demand they see in the future. Wow that seemed like an obvious comment, well its not the US gold hoard so to be more clear the most likely source is mine supply or liquidation from ETF's. I am interested in how much physical is going to be bought due to the drop in price. I bought a lot of sliver when it dropped from the upper 20's to the 18-21 dollar range, and I'm guessing due to putting more cash and the lower price and premiums I'll probably be buying 50% more than during that period.
Notice the size of the bars have shrunk? do you see that? No, there's no inflation...
MassDecep
This is the new metric weight bar. Slightly different that a regular oz. and kilo.
Photoshop is getting pretty good!!!
Hi Latitude,
I smell wet paint...
That's probably the entire U.S. holdings, right there.
;-D
Latitude: STOP IT I just Spit up my coffee -- too funny, too early.
I guestimate about 12.5 tonnes for the 9 pallets in the FOV.
Germany can't even get that much back from the crooks.