Silver Hits Record Demand in 2013 – Led By 76% Increase in Coin and Bar Sales

Silver Hits Record Demand in 2013

Silver demand surges in 2013 lead by demand for physical bullion for investment and industrial uses.

JM Bullion

Silver demand hit a record high in 2013 according to the “World Silver Survey 2014″, released today by the Silver Institute.

Highlights of the World Silver Survey 2014:

– Total silver demand was 1,081 million ounces (Moz) in 2013 up from 954.4 Moz. in 2012, or a 13.3 percent increase year over year.

– Demand for silver coins and bars rose 76% in 2013 from 139.3 Moz sold in 2012 to 245.6 Moz sold in 2013.

– Demand for physical silver bullion surpassed demand for use in electronics for the first time.

– Demand for silver coins and bars was 22.7% of the over all silver demand in 2013, up from 14.6% in 2012.

– Demand for silver for use in electronics declined slightly in 2013 falling from 237.0 Moz in 2012 to 233.9 Moz in 2013.

– Demand for silver for jewelry increased from 181.4 Moz in 2012 to 198.8 million Moz in 2013.

– Demand for silver for silverware increased from 44.6 Moz in 2012 to 50.0 Moz in 2013

– Total silver industrial demand fell from 589.1 Moz in 2012 to 586.6 Moz in 2013

– Silver industrial demand in 2013 constituted nearly 54.3% of total demand vs. 62% of total demand in 2012.

– Total 2013 silver supply was 978 million ounces of which 819 million ounces were from mining.

The surge in sales of silver coins and bars in 2013 was also reflected at the US. and Canadian Mints, which both achieved record silver sales in 2013.

The United State Mint achieved record sales of 43.475 Moz in 2013.

Silver sales at the U.S. Mint in 2014 are ahead of their record pace set in 2013.

The Canadian mint also reported selling a record 28.2 million silver one ounce Maple Leaf coins up from 18.1 million in 2012.

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Further Reading:

Silver Supply and Demand (2014)

Is a Gold and Silver Supply and Demand Price Adjustment Coming?

Silver Buying Guide

Gold and Silver Price Manipulation – Suspected

Silver and Gold Manipulation – Actual

The Silver to Gold Sales Ratio – April 2014

The Silver to Gold Sales Ratio – March 2014

The Silver to Gold Sales Ratio – February 2014

Perth Mint Sales Slide

Australia’s Perth Mint Gold and Silver Sales By Month July 2012- February 2014

The Canadian Mint Sells Record Amounts of one ounce Silver Maple Leaf Coins in 2013 (see page 30 of the report)

The Silver to Gold Sales Ratio – January 2014

The Silver to Gold Sales Ratio – December 2013

The Silver to Gold Sales Ratio – November 2013

The Silver to Gold Sales Ratio -October 2013

The Silver to Gold Sales Ratio – September 2013

Buy Gold and Silver

Austrian Mint Runs Overtime to Meet Demand

2014 Silver and Gold Predictions

Sales of America the Beautiful Quarters Silver Proof Sets Off to Slow Start in 2014

Perth Mint Gold and Silver Sales Rise in January

Mexico to Tax Silver and Gold Miners

The Gold Silver Ratio vs. The Silver to Gold Sales Ratio

The West Sells Paper Gold While the East Buys Physical Gold

The Price of Silver & Real Estate

Buying Physical Gold and Silver

Twelve Ways Silver is Different Than Gold

High Sales of Silver at the U.S., Canadian and Australian Mints in 2013

Royal Canadian Mint

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