Silver and Gold Sales at the U.S. Mint August 2014
Silver and Gold Sales Flat at the U.S. Mint in August 2014
After Falling Sharply In July, Silver and Gold Sales at the U.S. Mint Flat in August
One ounce Silver Eagles outsell one ounce Gold Eagles 95 to 1 at the U.S. Mint in August, up from 75.96 to 1 in July.
U.S. Mint sells 2,007,500 one ounce Silver Eagles and 21,000 one ounce Gold Eagles in August.
The Gold/Silver Price Ratio was 66.21 to 1 in August vs. 62.67 to 1 in July.
Sales of one ounce American Silver Eagles in August were up 1.6% from July.
Sales of one ounce American Gold Eagles in August were down 24% from July.
Year to date sales of one ounce American Silver Eagles down 15% from last year’s record pace (28,111,000 vs. 33,075,000).
Year to date sales of one ounce American Gold Eagles down 57% from last year (245,500 vs. 595,500).
Total August 2014 Gold Bullion Sales at the U.S. Mint: 33,000 ounces, including 31,000 fractional ounce gold Eagles (totaling 4,000 ounces) and 8,000 24K one ounce Buffalo gold coins*.
Total August 2014 Silver Bullion Sales at the U.S. Mint:2,053,000 ounces**.
Last year we started tracking the silver to gold sales ratio as measured by the sales of physical gold bullion vs. sales of physical 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 August 2014 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 U.S. Mint one ounce Gold and Silver Eagles sales in number of ounces and total dollars:
The August 2014 Silver to Gold Sales Ratio: 95/1
In August the U.S. Mint sold 2,007,500 one ounce Silver Eagles up from 1,975,000 Silver Eagles sold in July and down from 3,625,000 Silver Eagles sold in August 2013.
In August, the U.S. Mint sold 21,000 one ounce Gold Eagles down from 26,000 sold in July and up from 9,000 Gold Eagles sold in August 2013.
The ratio of one ounce Silver Eagles sold to one ounce Gold Eagles sold in August 2014 was 95 to 1 compared to 76 to 1 in July 2014 and 402.8 to 1 in August 2013.
In August, the U.S. Mint sold approximately $41 million worth of silver, including one ounce Silver Eagles and five ounce America the Beautiful silver coins**) The Mint sold approximately $27 million worth of one ounce Gold Eagles. The total value of physical gold bullion sold at the U.S. Mint in August, including sales of one ounce and fractional ounce Gold Eagles and one ounce Gold Buffalo coins, was approximately $43 million.
Gold has out sold silver in dollar terms the past three months
On August 29, 2014 at 8:15PM EST:
Silver was $19.47 per ounce
Silver Price Average in August $19.80
Silver Price Average in July $20.92
Silver Price Average in June: $19.78
Silver Price Average in May: $19.36
Silver Price Average in April:19.71
Silver Price Average in March: $20.74
Silver Price Average in February: $20.83
Silver Price Average in January: $19.91
Silver Price Average in 2013: $23.79
Silver Price Average in 2014: $20.05
Gold was $1285.75 per ounce
Gold Price Average in August $1295.99
Gold Price Average in July $1310.97
Gold Price Average in June: $1279.10
Gold Price Average in May: $1287.53
Gold Price Average in April: 1299.00
Gold Price Average in March: $1336.08
Gold Price Average in February: $1300.97
Gold Price Average in January: $1244.80
Gold Price Average in 2013: $1412.05
Gold Price Average in 2014:1290.70
August Gold/Silver Ratio: 66.01/1
2013 Gold Silver Ratio: 59.25/1
Sources: Kitco and United States Mint
The Gold Silver Ratio is High By Historical Standards
Gold and Silver Charts Courtesy of Nick Laird – the Gold Standard in Precious Metals Charts
*In August 2014, the U.S. Mint also sold: 6,000 one quarter ounce gold American Eagle coins and 25,000 one tenth ounce gold American Eagle coins (a total of 4,000 ounces in fractional gold Eagles coins) Including the 26,000 one ounce gold American Eagle coins, the Mint sold 30,000 ounces of gold American Eagle coins and 8,000 one ounce Gold Buffalo coins for a total of 33,000 ounces of gold sold.
** The U.S. Mint also reported sales figures for their popular silver American the Beautiful five ounce coins. They reported selling no additional sales of the five ounce Great Smoky Mountain coins (total of GSM coins sold this year is 29,500).
The Mint also reported sales of 500 Shenandoah National Park coins (the total SNP coins sold this year is 20,500). The U.S. Mint reported selling an additional 1,200 five ounce Arches National Park coins (bringing the total of ANP coins sold this year to 21,200). The U.S. Mint released the Great Sand Dunes National Park in August and sold 7,500 of them. Total ounces sold in August attributed to the sales of America the Beautiful coins was 46,000 (9,200 five ounce coins sold).
In 2014, the total ounces of silver sold to date from silver America the Beautiful five ounce coins is 393,500(78,700 five ounce coins sold).
In 2013, the U.S. Mint sold 160,000 silver America the Beautiful five ounce coins for a total of 800,000 ounces sold.