Gold and Silver Sales at the U.S. Mint March 2014
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UPDATE April 4: The U.S. Mint adds 878,000 Silver Eagles to its March 2014 totals bringing the total U.S. Silver Eagle sales to 5,354,000. The Mint also adds 1,000 Gold Eagles to its March 2014 total bringing the total U.S. Gold Eagle sales to 16,000.
With the updated numbers one ounce silver eagles outsold gold eagles 334 to 1 in March at the U.S. Mint.
One Ounce Silver Eagles outsell One Ounce Gold Eagles 298.4 to 1 at the U.S. Mint in March
The Gold/Silver Ratio was 64.42 in March down from 68.22/1 in February (See one year chart below)
U.S. Mint Continues 2014 with Strong Sales of Physical Silver Bullion in March
March Gold sales slump from January and February levels
-U.S. Mint sells 4,476,000 one ounce Silver Eagles and 15,000 one ounce Gold Eagles.
Total March 2014 Gold Bullion Sales at the U.S. Mint: 32,000 ounces, including 36,000 fractional ounce gold Eagles (totaling 5,000 ounces) and 12,000 24K one ounce Buffalo coins*
Total March 2014 Silver Bullion Sales at the U.S. Mint: 4,537,000 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 March 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 March 2014 Silver to Gold Sales Ratio: 298.4/1
In March the U.S. Mint sold 4,476,000 one ounce Silver Eagles up from 3,750,000 Silver Eagles sold in February and up from 3,356,500 Silver Eagles sold in March 2013.
In March the U.S. Mint sold 15,000 one ounce Gold Eagles down from 22,000 sold in February and down from 54,000 Gold Eagles sold in March 2013.
The ratio of one ounce Silver Eagles sold to one ounce Gold Eagles sold in March 2014 was 298.4 to 1 compared to 62.16 to 1 in March 2013.
In March the U.S. Mint sold approximately $100 million worth of one ounce Silver Eagles** and $20 million worth of one ounce Gold Eagles. The total value of physical gold bullion sold at the U.S. Mint in March, including sales of one ounce and fractional ounce Gold Eagles and Gold Buffalo coins, was approximately $43 million.
On March 31, 2014 at 8:15PM EST:
Silver was $19.70 per ounce
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
Gold was $1283.10 per ounce
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
March Gold/Silver Ratio: 64.42/1
2013 Gold Silver Ratio: 59.25/1
Sources: Kitco and United States Mint
Recently Silver Sales in Dollar Terms Have Surpassed Gold Sales at the U.S. Mint
Gold and Silver Charts Courtesy of Nick Laird
*In March 2014 the U.S. Mint also sold: 2,000 one half ounce gold American Eagle coins, 4,000 one quarter ounce gold American Eagle coins and 30,000 one tenth ounce gold American Eagle coins (a total of 20,000 ounces of gold American Eagle coins, including the 15,000 one ounce gold American Eagles sold).
** The U.S. Mint reported sales figures for the first time this year for their popular silver American the Beautiful five ounce coins. They reported selling 12,200 five ounce Great Smokey Mountain coins for a total of 61,000 ounces 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.
How Many Ounces of Silver it Takes to Buy One Ounce of Gold