Sales of Gold and Silver at the U.S. Mint July 2014
Silver and Gold Sales Tumble at the U.S. Mint in July.
Silver and Gold Sales Fall Sharply at the U.S. Mint In July.
One ounce Silver Eagles outsell one ounce Gold Eagles 76 to 1 at the U.S. Mint in June; up from 62.6 to 1 in June.
U.S. Mint sells 1,975,000 one ounce Silver Eagles and 26,000 one ounce Gold Eagles in July.
The Gold/Silver Price Ratio was 62.67 to 1 in July vs. 64.67 to 1 in June.
Sales of one ounce American Silver Eagles in July were down 27% from June.
Sales of one ounce American Gold Eagles in July were down 40% from June.
Year to date sales of one ounce American Silver Eagles down 11% from last year’s record pace (26,103,500 vs. 29,450,000).
Year to date sales of one ounce American Gold Eagles down 62% from last year (224,500 vs. 587,500).
Total July 2014 Gold Bullion Sales at the U.S. Mint: 35,500 ounces, including 31,000 fractional ounce gold Eagles (totaling 4,000 ounces) and 5,500 24K one ounce Buffalo gold coins*.
Total July 2014 Silver Bullion Sales at the U.S. Mint: 1,985,000 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 July 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 July 2014 Silver to Gold Sales Ratio: 76/1
In July the U.S. Mint sold 1,975,000 one ounce Silver Eagles down from 2,692,000 Silver Eagles sold in June and down from 4,405,500 Silver Eagles sold in July 2013.
In July, the U.S. Mint sold 26,000 one ounce Gold Eagles down from 43,000 sold in June and down from 43,000 Gold Eagles sold in June 2013.
The ratio of one ounce Silver Eagles sold to one ounce Gold Eagles sold in July 2014 was 76 to 1 compared to 62.6 to 1 in June 2014 and 102.48 to 1 in July 2013.
In July, 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 $34 million worth of one ounce Gold Eagles. The total value of physical gold bullion sold at the U.S. Mint in June, including sales of one ounce and fractional ounce Gold Eagles and one ounce Gold Buffalo coins, was approximately $46.5 million.
Gold has outsold silver in dollar terms the past two months
On July 31, 2014 at 8:15PM EST:
Silver was $20.38 per ounce
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 $1280.50 per ounce
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
July Gold/Silver Ratio: 62.1/1
2013 Gold Silver Ratio: 59.25/1
Sources: Kitco and United States Mint
The Gold Silver Ratio Remains Elevated
Gold and Silver Charts Courtesy of Nick Laird
*In July 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 5,500 one ounce Gold Buffalo coins for a total of 35,500 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 an additional 500 five ounce Great Smoky Mountain coins (bringing the total of GSM coins sold this year to 29,500). The Mint also reported no additional sales of the Shenandoah National Park coins (the total SNP coins sold this year is 20,000). The U.S. Mint reported selling an additional 1,500 five ounce Arches National Park coins (bringing the total of ANP coins sold this year to 20,000). Total ounces sold in July attributed to the sales of America the Beautiful coins was 10,000 (2,000 five ounce coins sold).
In 2014, the total ounces of silver sold to date from silver America the Beautiful five ounce coins is 347,500 (69,500 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.