by Steve St. Angelo, SRSRocco Report:
After nearly three months, the U.S. Mint has finally updated its Silver & Gold Eagle sales. With the U.S. Mint releasing its new Silver & Gold Eagle designs this month, they stopped updating Silver Eagle sales in the middle of April. However, it looks like the U.S. Mint went back and updated June, showing a significant figure.
I don’t know if these figures shown in the chart below include the New Designs… I don’t believe they do. If that is true, we will likely see a huge sales figure for July as the Authorized Participants start to acquire their stock. The U.S. Mint posted ZERO sales for June, but has now updated that to show 2.8 million.
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Furthermore, there are 849,000 Silver Eagles sold in July. It will be interesting to see how many more Silver Eagles are sold by the end of the month as the U.S. Mint begins to ROLL OUT the new design.
Gold Eagle sales also jumped in June to 182,000 oz. When I made the chart earlier today, the U.S. Mint posted 18,000 oz so far for July. But, when I checked the website just a few minutes ago, they added another 8,000 oz to a total of 26,000 oz.
Now… if we compare the first half of 2020 to 2021, Silver & Gold Eagle sales this year are considerably stronger, especially Gold Eagles. Total Silver Eagle sales were 12.6 million Jan-Jun 2020 versus 15.9 million for the same period this year. So, with the Covid-19 shutdowns last year and the U.S. Mint changing over to a new design this year, Silver Eagle sales are 3.3 million higher.
While Silver Eagle sales 1H 2021 are 26% higher than the same period last year, Gold Eagle sales are up a stunning 72%. Gold Eagle sales were 379,000 oz 1H 2020 compared to 653,000 oz 1H 2021.
It will be interesting to see second-half Silver & Gold Eagle sales because that would be a TELL-TALE sign suggesting strong investor demand will continue even if we see lower spot prices.
According to the Royal Canadian Mint, sales of silver bullion (mostly Silver Maples and some silver bars), total sales reached 9.9 million oz in the first quarter of 2021. The Royal Canadian Mint will likely release its Q2 2021 figures towards the end of August. Here are the comparisons for the Silver & Gold bullion sales from the Royal Canadian Mint:
Royal Canadian Mint Silver & Gold Bullion 1H 2020
Q1 2020 Silver Bullion = 6,565,000 oz
Q2 2020 Silver Bullion = 7,200,000 oz
1H 2020 Silver Bullion = 13,765,000 oz
Q1 2020 Gold Bullion = 196,500 oz
Q2 2020 Gold Bullion = 198,100 oz
1H 2020 Gold Bullion = 394,600 oz
Royal Canadian Mint Silver & Gold Bullion Q1 2021
Q1 2021 Silver Bullion =9,900,000 oz
Q1 2021 Gold Bullion = 328,500 oz
We can see that the Royal Canadian Mint Silver Bullion sales are 3.3 million higher during Q1 2021 compared to the same period last year, while Gold Bullion is up 67% to 328,500 oz. I’d imagine the Royal Canadian Mint Silver & Gold Maple sales (including bars) will likely be quite strong in Q2. Moreover, we will likely see solid Royal Canadian Mint Silver Bullion sales due to a shut down in production from the U.S. Mint as it retooled its production to the new design for the past several months.