tfmetalsreport.com / By Turd Ferguson / Wednesday, March 13, 2013 at 2:14 pm
Just a brief post today concerning a couple of anecdotal demand indicators.
Let’s start with Gold and Silver Eagle sales from the U.S. Mint. First, chew on these little factoids that Uncle Ted shared a couple of weeks ago: (http://www.butleresearch.com)
- In 1986, the U.S. Mint was directed by law to begin minting gold and silver coins. Over those 27 years, The Mint has sold approximately 325,000,000 Silver Eagles.
- Almost exactly half of those sales have occurred in the past five years alone (2008-2012 = 157,000,000).
- Annual sales above 35,000,000 exceed the entire annual U.S. production for 2012. (Courtesy of our friend SRSrocco: http://www.financialsense.com/contributors/steve-angelo/2012/01/04/silver-sales-surpass-domestic-production)
- Annual sales at 35,000,000 represent about 5% of total global mine production for any single year.
So, anyway, Silver Eagle sales, though not the be-all-end-all, are clearly a significant force in global silver demand. And where are we with this demand? Let’s take a look.
Year Jan sales Feb sales March sales Total year end YoY %chg
2008 2,170,000 200,000 1,855,000 19,583,500 +98%
2009 1,900,000 2,125,000 3,132,000 28,766,500 +47%
2010 3,592,500 2,050,000 3,381,000 34,662,500 +20%
2011 6,422,000 3,240,000 2,767,000 39,868,500 +15%
2012 6,107,000 1,490,000 2,542,000 33,742,000 -15%
2013 7,498,000 3,368,500 1,601,500 (1-12) proj: 60,000,000 +78%
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