Silver and Gold Sales at the U.S. Mint October 2014
Silver and Gold Sales at the U.S. Mint Continue Their Torrid Pace in October.
American Silver Eagle Sales hit 5,790,000, the largest ever October sales total
American Gold Eagle Sales over 50,000 two months in a row
Update November 3, 2014: U.S. Mint Sells 625,000 American Silver Eagles; 10,500 one ounce American Gold Eagles on first business day of November.
November 5, 2014: U.S. Mint sells 635,000 American Silver Eagles. Total November ASE sales 1,260,000; U.S. Mint Sells 10,000 American Gold Eagles. Total November AGE sales 20,500.
November 5, 2014 – U.S. Mint Sold Out of American Silver Eagles
November 11, 2014: U.S. Mint To Resume Silver Eagle Sales November 17
November 17, 2014: US Mint Resumes American Silver Eagle Sales- Sells 1,012,000. Total American Silver Eagle Sales MTD 2,272,000
Silver and Gold Sales at the U.S. Mint Soar in October.
Sales of American Silver Eagles set an all time October record of 5,790,000. October American Silver Eagle sales have been topped only by the monthly sales of January 2013: 7,498,000, January 2012: 6,107,000 and January 2011: 6,422,000.
American Gold Buffalo Coin Sales Also Strong in October
American Silver Eagle Sales Back on Record Pace
2014 Sales of American Silver Eagles Top 38 Million
October Silver Eagle sales up 40% from September; up 89% from October 2013
October Gold Eagle sales up 14% from September up; up 40% from October 2013
One ounce Silver Eagles outsell one ounce Gold Eagles 100.70 to 1 at the U.S. Mint in October, up from 81.98 to 1 in August.
U.S. Mint sells 5,790,000 one ounce Silver Eagles and 57,500 one ounce Gold Eagles in September.
The Gold/Silver Price Ratio was 71.12 to 1 in October vs. 66.89 to 1 in September. (see chart below)
Year to date sales of one ounce American Silver Eagles down 2.9% from last year’s record pace (38,041,000 vs. 39,175,000).
Year to date sales of one ounce American Gold Eagles down 45% from last year (353,500 vs. 646,000).
Total October 2014 Gold Bullion Sales at the U.S. Mint: 88,500 ounces, including 64,000 fractional ounce gold Eagles (totaling 10,000 ounces) and 21,000 24K one ounce Buffalo gold coins*.
Total October 2014 Silver Bullion Sales at the U.S. Mint: 5,815,000**.
The Silver to Gold Sales Ratio
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 October 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 October 2014 Silver to Gold Sales Ratio: 101/1
In October, the U.S. Mint sold 5,790,000 one ounce Silver Eagles up from 4,140,000 Silver Eagles sold in September and up from 3,087,000 Silver Eagles sold in October 2013.
In October, the U.S. Mint sold 57,500 one ounce Gold Eagles up from 50,500 sold in September and up from 41,000 Gold Eagles sold in October 2013.
The ratio of one ounce Silver Eagles sold to one ounce Gold Eagles sold in October 2014 was 101 to 1 compared to 82 to 1 in September 2014 and 75.29 to 1 in October 2013.
In October, the U.S. Mint sold approximately $99.5 million worth of silver, including one ounce Silver Eagles and five ounce America the Beautiful silver coins**) The Mint sold approximately $70.0 million worth of one ounce Gold Eagles. The total value of physical gold bullion sold at the U.S. Mint in October, including sales of one ounce and fractional ounce Gold Eagles and one ounce Gold Buffalo coins, was approximately $106 million.
Despite American Silver Eagles out selling American Gold Eagles in October, the U.S. Mint sold more gold than silver valued in dollars due to the large decrease in the price of silver.
On October 31, 2014 at 4:15 PM EST:
Silver was $16.13 per ounce
Silver Price Average in October: $17.19
Silver Price Average in September: $18.49
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 $1170.90 per ounce
Gold Price Average in October: $1222.49
Gold Price Average in September: $1238.82
Gold Price Average in August: $12:95.99
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
October Gold/Silver Ratio: [66.89/1]
2013 Gold Silver Ratio: 59.25/1
Sources: Kitco and United States Mint
Monthly American Silver Eagle Sales at the U.S. Mint: August 2012-October 2014
October 2014 Silver Eagle sales were the third largest monthly sales total ever at the U..S Mint.
The Gold Silver Ratio has climbed to over 72:1
Gold and Silver Charts Courtesy of Nick Laird – the Gold Standard in Precious Metals Charts
*In October 2014, the U.S. Mint also sold: 6,000 one half ounce gold American Eagle coins, 8,000 one quarter ounce gold American Eagle coins and 50,000 one tenth ounce gold American Eagle coins (a total of 10,000 ounces in fractional gold Eagles coins) Including the 57,500] one ounce gold American Eagle coins, the Mint sold 67,500 ounces of gold American Eagle coins and 21,000 one ounce Gold Buffalo coins for a total of 88,500 ounces of gold sold.
America The Beautiful Silver Coin Sales Update:
**The Mint also reported sales of 900 Shenandoah National Park coins (the total SNP coins sold this year is 22,400). The U.S. Mint released the Great Sand Dunes National Park in August and sold another 4,200 of them in October (bringing the total of GSD coins sold this year to 16,200). Total ounces sold in October attributed to the sales of America the Beautiful coins was 25,500 (5,100 five ounce coins sold).
In 2014, the total ounces of silver sold to date from silver America the Beautiful five ounce coins is 468,000 (93,600 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.
America The Beautiful Silver Bullion Coins – available from BGASC.com