Second Quarter 2016 Royal Canadian Mint Silver Sales Rise 24%

The Royal Canadian Mint Sold 8,400,000 Ounces of Silver in the Second Quarter of 2016.

Second quarter 2016 Canadian Mint silver sales rose 24% year over year in Q2 2016 from 6,800,000 ounces sold in the same quarter in 2015

First quarter 2016 Canadian Mint silver sales rose 19.3% year over year in Q1 2016 to 10,600,000 ounces from 8,900,000 ounces sold in the first quarter in 2015.

First Half of 2016 Canadian Mint Silver Sales of 19,000,000 ounces were up 21% vs First Half 2015 Sales of 15,700,000 ounces*

Canadian Mint Reports ‘Both gold and silver metal prices jumped significantly after the Brexit vote, but have not yet translated into a material increase in bullion demand.’

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The Royal Canadian Mint released its second quarter 2016 report this week.

The report showed that Royal Canadian Mint second quarter 2016 silver sales increased 24% year over year from the second quarter of 2015. (8.4 million ounces vs. 6.8 million ounces)

Second quarter 2016 silver sales of 8.4 million decreased from the record the quarterly silver sales record at the Royal Canadian Mint of 10.6 million ounces set in the first quarter of 2016.

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Silver Sales at the Royal Canadian Mint in the 2nd 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.

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 first quarter 2016 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 2016 report in reference to the Canadian Mint’s circulation 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. The drop off in sales at the Royal Canadian Mint in the second quarter mirrored the decline in sales at the U.S. Mint in the second quarter. Sales at the U.S. Mint declined significantly in July and August.

Since the Canadian Mint second quarter report only covers sales through June we do not know what the Canadian Mint sales were in July and August. The Canadian Mint did however indicate that silver sales SINCE June 23, 2016 (the date of the Brexit vote) did not increase.

“The result of the Brexit vote is expected to continue to cause uncertainty and increase volatility
in the financial and precious metals markets. Both gold and silver metal prices jumped
significantly after the vote, but have not yet translated into a material increase in bullion

Canadian Mint Silver To Gold Sales Ratio

Q1 2016: 10.6 million ounces of silver sold vs. 212,600 ounces of gold sold or 49.86 to 1.
Q2 2016: 8.4 million ounces of silver sold vs. 251,400 ounces of gold sold or 33.4 to 1
First Half 2016: 19 million ounce of silver sold vs. 464,000 ounces of gold sold or 40.95 to 1.

Click here to see the current and historic gold silver ratios.

Click here to see Second Quarter Canadian Mint Gold Sales

Canadian Mint Silver Sales

royal canadian mint silver sales 2004-2016 through june

First half Royal Canadian Mint silver sales were 19 million.

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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

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Compare Canadian Silver Maple Leaf coins for sale at these online bullion dealers:
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See also First Quarter 2016 Royal Canadian Mint Gold Sales

*Canadian Mint reported for the first 26 weeks silver sales increased 26% to 19.7 million ounces from 15.7 million ounces in the previous year. (first 26 weeks) The slightly different numbers we reported are the sum total of the silver sales reported by the Royal Canadian Mint in the first and second quarters of 2016.

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Further Reading:

Canadian Mint Sales (quarterly and annual archives)

US Mint Sales (monthly archive)

Perth Mint Sales (monthly archive)

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