The Silver to Gold Sales Ratio – November 2013

Gold and Silver Sales at the U.S. Mint November 2013

JM Bullion

Silver Outsells Gold 52.2775.29 to 1 at the U.S. Mint in November
The Gold/Silver Ratio was 63.47/1 in November

– Retail investors continue to buy physical silver and gold in large quantities
-2013 Silver Eagle sales to date pass 41 million and set all time annual record*

Earlier this year we started tracking the silver to gold sales ratio as measured by the sales of physical gold vs. sales of 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 2013 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 Year To Date U.S. Mint Gold and Silver Eagles sales in number of ounces and total dollars:

Sales of US Gold Eagles near 700,000Sales of Silver Eagles 2013 at the US mint

The November 2013 Silver to Gold Sales Ratio: 52:1

In November the U.S. Mint sold 2,300,000 one ounce Silver Eagles down from 3,087,000 Silver Eagles sold in October and sold 44,000 one ounce Gold Eagles up from 41,000 sold in October equaling a ratio of 52 silver eagles sold for each gold eagle sold.

The Silver to Gold Sales Ratio Year to Date: 60:1

As of the end of November the U.S. Mint had sold 41,475,000* one ounce Silver Eagles and 690,000 one ounce Gold Eagles for a ratio of silver to gold sales of 60:1.

The U.S. Mint is selling about the same dollar amount of silver eagles as gold eagles. In order to sell the approximate dollar amount of silver as gold, the mint has sold sixty times more silver eagles than gold eagles.
Sales of both silver and gold eagles amount to about $1 billion each.

On December 4, 2013 at 9:10PM EST:

Silver was $19.37 per ounce
Silver Price Average in November $20.76 vs. $21.92 in October
Gold was $1229.40 per ounce
Gold Price Average in November was $1275.82 vs.$1316.18 in October
November Gold/Silver Ratio 63.47/1

*the prior record for most silver one ounce American Eagles sold in one year was 39,868,500 in 2011.

Sources: Kitco and United States Mint

Canadian Silver and Gold Maple Leaf one ounce coins are also headed towards sales records in 2013.

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Further Reading:

US Mint Sales (monthly archive)

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

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

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