The Royal Canadian Mint Sells A Quarterly Record 10.6 Million Ounces of Silver in the First Quarter of 2016.
Silver sales were up 19.3% year over year in Q1 2016 from 8.9 million ounces in the same quarter in 2015.
First quarter 2016 silver sales higher than entire year mintages of 2004-2009.
Canadian Mint more than doubles its coin production in first quarter in preparation of “anticipated higher demand this summer”.
The Royal Canadian Mint released its first quarter 2016 report this week.
The report showed that Royal Canadian Mint first quarter 2016 silver sales increased 19.3% year over year from the first quarter of 2015. (10.6 million ounces vs. 8.9 million ounces)
First quarter 2016 silver sales topped the quarterly silver sales record at the Royal Canadian Mint of 9.5 million ounces set in the third quarter of 2015.
Silver Sales at the Royal Canadian Mint in the 1st Quarter 2016
Sales of Canadian Silver Maple Leaf coins and bars set a record in 2015 with 34,300,000 ounces sold, an increase of 5,200,000 ounces, or 18% from 2014’s then record sales.
With a record first quarter already booked, the Royal Canadian Mint is anticipating another record year for silver sales. Silver sales at the Royal Canadian Mint in 2015, while a record, were curbed by a lack of products to sell as Canadian Silver Maple Leaf coins and ten ounce silver bars were sold out for a few months during the year.
The Royal Canadian Mint noted in its quarterly report: “Sales of silver bullion have been driven for several quarters by demand that exceeds supply in North America and Europe.”
Royal Canadian Mint Ups Production
In order to avoid any shortage in 2016, the Canadian Mint noted in its first quarter report in reference to the Canadian Mint’s circuation coinage system:
“During the quarter, the Mint produced 138.4 million coins compared to 64.3 million in the first quarter of 2015. The increased production is to rebuild inventories to target levels, for higher demand anticipated over the summer and holidays later in the year. The efficient management of the coinage system that ensures no shortages of coins is achieved. ”
It seems the Canadian Mint is acutely aware of the issues that shortages create and we would imagine that they are also better prepared for increased silver bullion demand in 2016.
First Quarter Royal Canadian Mint sales were higher than 2009’s then record sales of 9.7 million.
Canadian Silver Maple Leaf
Description: Obverse: Picture of of Queen Elizabeth II of England
Reverse: Depiction of a Maple Leaf “CANADA” “Fine Silver 1 oz Argent Pur”
Composition/Weight: 1 ounce/.9999 fine silver; ridged edge
Face value: $5
Designer: Susanna Blunt
Mint Location: Ottawa, Canada
Years Minted: 1988-present
Compare Pricing and Shipping on Canadian Silver Maple Leaf Coins
Compare Canadian Silver Maple Leaf coins for sale at these online bullion dealers:
Golden Eagle Coin
Money Metals Exchange
See also First Quarter 2016 Royal Canadian Mint Gold Sales
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