Silver Outsells Gold 75.29 to 1 at the U.S. Mint in October
The Gold/Silver Ratio was 60.04/1 in October
- Retail investors continue to buy physical silver and gold in large quantities
-2013 Silver Eagle sales to date pass 39 million approaching 2011 record of 39.8 million.
Earlier this year we started tracking the silver to gold sales ratio as measured by the sales of physical gold vs. sales of silver bullion at the U.S. Mint. We track the sales of one ounce American Gold Eagles vs. one ounce American Silver Eagles. We now provide this data from 2008 through October 2013 and compare it to the gold/silver ratio that measures how many ounces of silver it takes to purchase one ounce of gold.
Below are the 2008-2013 Year To Date U.S. Mint Gold and Silver Eagles sales in number of ounces and total dollars:
The October 2013 Silver to Gold Sales Ratio: 75:1
In October the U.S. Mint sold 3,087,000 one ounce Silver Eagles up from 3,013,000 Silver Eagles sold in September and sold 41,000 one ounce Gold Eagles up from 8,500 sold in September equaling a ratio of 75 silver eagles sold for each gold eagle sold.
The Silver to Gold Sales Ratio Year to Date: 61:1
Year to date the U.S. Mint has sold 39,175,000* one ounce Silver Eagles and 646,000 one ounce Gold Eagles for a ratio of silver to gold sales of 61:1.
The U.S. Mint is selling about the same dollar amount of silver eagles as gold eagles. In order to sell the approximate dollar amount of silver as gold, the mint has sold sixty one times more silver eagles than gold eagles.
On October 31, 2013 at 6:00PM EST:
Silver was $21.91 per ounce
Silver Price Average for October $21.92
Gold was $1323.80 per ounce
Gold Price Average for October $1316.18
October Gold/Silver Ratio: 60.04/1
*the most silver one ounce American Eagles sold in one year was 39,868,500 in 2011.
Mexico to Tax Silver and Gold Miners
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