In the midst of a 2 month price consolidation for both gold and silver, US Mint gold and silver eagle sales exploded in November, coming in a 3,159,500 oz of ASE’s, the 3rd highest monthly total for 2012, and 136,500 oz of AGE’s, by far the highest monthly gold sales for the US Mint for 2012.
While silver eagle sales were strong, the story is in gold eagle sales, which roared back to life in the wake of Obama’s re-election. The silver/gold sales ratio narrowed to 23/1, after reaching such extremes as 74/1 as recently as August.
The 136,500 oz gold eagle sales total was nearly triple the October sales total of 59,000, and was up an astonishing nearly 4 fold year over year from Nov 2011, which saw 41,000 oz sold. November silver eagle sales were nearly as strong, up 2.5 fold year over year from 1,384,000 sold in November 2011.
While annual sales totals for gold and silver eagles will fall well short of 2011 records, the recent massive increase in demand indicates that the next up-leg in the secular gold and silver bull markets will likely be extraordinary and unprecidented.
Got PHYZZ??
2012 US Mint Gold Eagle sales courtesy SRSrocco:
2012 Gold Sales Totals
(in ounces / number of coins)
| Month | One ( oz. / #coins ) |
Half ( oz. / #coins ) |
Quarter ( oz. / #coins ) |
Tenth ( oz. / #coins ) |
Total ( oz. / #coins ) |
|---|---|---|---|---|---|
| January | 84,500 84,500 |
24,500 49,000 |
9,500 38,000 |
8,500 85,000 |
127,000 256,500 |
| February | 20,000 20,000 |
0 0 |
500 2,000 |
500 5,000 |
21,000 27,000 |
| March | 57,500 57,500 |
1,000 2,000 |
0 0 |
4,000 40,000 |
62,500 99,500 |
| April | 19,000 19,000 |
0 0 |
500 2,000 |
500 5,000 |
20,000 26,000 |
| May | 49,000 49,000 |
1,500 3,000 |
1,000 4,000 |
1,500 15,000 |
53,000 71,000 |
| June | 55,000 55,000 |
1,000 2,000 |
1,500 6,000 |
2,500 25,000 |
60,000 88,000 |
| July | 28,500 28,500 |
0 0 |
500 2,000 |
1,500 15,000 |
30,500 45,500 |
| August | 34,000 34,000 |
1,500 3,000 |
1,000 4,000 |
2,500 25,000 |
39,000 66,000 |
| September | 63,000 63,000 |
1,000 2,000 |
1,000 4,000 |
3,500 35,000 |
68,500 104,000 |
| October | 54,000 54,000 |
1,000 2,000 |
1,000 4,000 |
3,000 30,000 |
59,000 90,000 |
| November | 129,500 129,500 |
2,500 5,000 |
1,000 4,000 |
3,500 35,000 |
136,500 oz 173,500 |
| December | 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
| Total | 594,000 594,000 |
34,000 68,000 |
17,500 70,000 |
31,500 315,000 |
677,000 oz 1,047,000 |
| Month | One ( oz. / #coins ) |
Half ( oz. / #coins ) |
Quarter ( oz. / #coins ) |
Tenth ( oz. / #coins ) |
Total ( oz. / #coins ) |
|---|---|---|---|---|---|
| January | 130,500 130,500 |
500 1,000 |
500 2,000 |
2,000 20,000 |
133,500 153,500 |
| February | 72,500 72,500 |
6,000 12,000 |
4,000 16,000 |
10,000 100,000 |
92,500 200,500 |
| March | 60,500 60,500 |
4,000 8,000 |
5,000 20,000 |
4,000 40,000 |
73,500 128,500 |
| April | 94,500 94,500 |
6,000 12,000 |
3,500 14,000 |
4,000 40,000 |
108,000 160,500 |
| May | 93,500 93,500 |
11,000 22,000 |
1,000 4,000 |
1,500 15,000 |
107,000 134,500 |
| June | 56,000 56,000 |
0 0 |
2,000 8,000 |
3,500 35,000 |
61,500 99,000 |
| July | 61,500 61,500 |
1,500 3,000 |
0 0 |
1,500 15,000 |
64,500 79,500 |
| August | 103,500 103,500 |
1,500 3,000 |
1,500 6,000 |
5,500 55,000 |
112,000 167,500 |
| September | 87,500 87,500 |
500 1,000 |
500 2,000 |
2,500 25,000 |
91,000 115,500 |
| October | 46,000 46,000 |
1,500 3,000 |
1,500 6,000 |
1,000 10,000 |
50,000 65,000 |
| November | 38,500 38,500 |
0 0 |
1,000 4,000 |
1,500 15,000 |
41,000 oz 57,500 |
| December | 65,500 65,500 |
0 0 |
0 0 |
0 0 |
65,500 65,500 |
| Total | 910,000 910,000 |
32,500 65,000 |
20,500 82,000 |
37,000 370,000 |
1,000,000 oz 1,427,000 |
2012 Silver Sales Totals
(in ounces / number of coins)
| Month | One ( oz. / #coins ) |
|---|---|
| January | 6,107,000 6,107,000 |
| February | 1,490,000 1,490,000 |
| March | 2,542,000 2,542,000 |
| April | 1,520,000 1,520,000 |
| May | 2,875,000 2,875,000 |
| June | 2,858,000 2,858,000 |
| July | 2,278,000 2,278,000 |
| August | 2,870,000 2,870,000 |
| September | 3,255,000 3,255,000 |
| October | 3,153,000 3,153,000 |
| November | 3,159,500 3,159,500 |
| December | 0 0 |
| Total | 32,107,500 32,107,500 |
| Month | One ( oz. / #coins ) |
|---|---|
| January | 6,422,000 6,422,000 |
| February | 3,240,000 3,240,000 |
| March | 2,767,000 2,767,000 |
| April | 2,819,000 2,819,000 |
| May | 3,653,500 3,653,500 |
| June | 3,402,000 3,402,000 |
| July | 2,968,000 2,968,000 |
| August | 3,679,500 3,679,500 |
| September | 4,460,500 4,460,500 |
| October | 3,064,000 3,064,000 |
| November | 1,384,000 1,384,000 |
| December | 2,009,000 2,009,000 |
| Total | 39,868,500 39,868,500 |
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Zero Hedge Chart — total $ value of sales. AU= 1,160,716,500 US$ AG= 1,338,784,230 US$ (better than a 1 to 1 ratio) at this mornings spot price
Not to long ago I saw a chart showing phyzz Ag sales @ 200 to 1 vs Au sales (IN OUNCES). Now it is Aprox that 50 to 1 ratio. Meaning SOME ONE IS BUYING ONE #&!! OF A LOT OF GOLD! Who could that be?
Agreed, the surge in gold eagle sales is from big $$$ investors, not the general public. The problem with acquiring several million dollars worth of physical silver is that it is heavy and takes up a lot of space. On the other hand, you can fit several million dollars worth of gold eagles in two shoe boxes.
Perhaps maybe the other big investors are buying gold American Eagles because they are worried that paper gold aren’t backed by actual physical gold and that they might accidentally buy some tungsten plated with gold.
Looks like a trend buying market. Hardly any stacking going on at low prices.
Overall, a slower sales year than 2011. Unless customers get reeeaaal crazy in December.
Would the gold sales be picking up due to CB rumors?
It’s normal that last year, sales were very high because gold and silver’s prices were also very high and it attracted a lot of new buyers. In 2011, gold was at about 1900$ per ounce and silver at about 50$ per ounce.
If I were a ‘stacker’ in gold’s range of cost, I’d be FAR more inclined to stash platinum.
Wholeheartedly agree. I’d buy platinum (now) before gold as long as it’s priced lower. However, there is 21% VAT on platinum here, which negated its appeal to me. Perhaps if I were to find myself in Switzerland I could buy some and just walk into the EU with it in my wallet? Mailordering it will see me ponying up big time.
I tend to agree Patt. Pt has been way undervalued in relation to Au for some time. If there is ever a new or revolutionary technology that requires Pt look out, it could be like what the cadylitic converter was for Palladium. Otherwise it is still a fantastic store of wealth in a small space.
I agree Pat, two years ago a friend on another forum hounded me to buy Platinum just close to $500.00 and I didn’t listen. Now I’m kicking myself. O’ Well if I win the lotto then maybe I can buy some now. Lol
I would also be interested at stacking some physical platinum but the problem is that my local coin shops don’t sell them. I’ve only seen once a one fourth of an ounce of platinum for sale about two months ago but the premium was very high.
One interesting observation of human nature is for the volume of Gold sales to increase when the price is on the upswing.
This is an opportunity for savvy folks* who trade Phyzz AU to make a nice profit!
*Folks who have tens of thousands of dollars to gamble with, that is.
While encouraging, no need to hype it up as ZH did. The biggest sale EVER took place right after the Washington agreement was signed (September 1999). However, the amount of dollars was less considering gold was hitting decade lows. Shortly after that, the financial world almost ended which is what FOA and ANOTHER were writing about.
Lease rate spike.
@Mammoth: The Au & Ag yearly sales charts above do show that when the PMs were their at least expensive, there were fewer sales. Makes one wonder why Big Money waits! I’m sure there is a good reason for it. I’m just to ignorant to understand it. Guess I’ll continue with the K.I.S.S. system–”Keep It Simple Stupid”, works for me!
The cartel covering their shorts?
I wonder if there are a lot of physical gold that are sold worldwide on November. My local coin shop finally got some gold for sale after more than two months but this time, I don’t have any more dollars so I can’t buy the gold.
@Sumkid: I’ve heard that if all the gold (silver too) ever mined could fit in a small cube. I think the size of that cube would have to be much larger that what some say. Billions of wedding rings, necklaces, the coins, bracelets, & bars… It may be true but untill I see it I can’t believe it.
Yesterday I did some reading on platinum, which I should have done before. Seems platinum didn’t always have a 1+ ratio to gold. On the contrary. As it’s such an industrial metal, and this world being about debt, I have just turned relatively bullish on gold. I’ll stick to silver though.
Yes, a small cube.
The thing of course with cubes…if it were twice as tall, it would contain 8 times as much.
With silver, about 10-15x perhaps having been mined since the beginning of time, the coube would be twice as tall. But then factoring in the kinds of applications (with little or no recycling after use), the above-ground cube of silver might be quite small. New large purchases of silver are fulfilled in brand new bars. we can assume them resmelted from old vault stock (totally unnecessarily so), but realistically it was just freshly mined.
The ever-thinning ore grades, a fact of life, make for pretty impressive amounts of ore to be dug up in order to double the every mined qty’s.