First Quarter Canadian Maple Leaf Sales Up A Hefty 24%

With the release of the Royal Canadian Mint’s first quarter 2014 report, sales of silver maples increased substantially compared to the same period last year.  While Silver Eagles sales in Q1 declined slightly year-over-year due to a backup at the U.S. Mint, Canadian Maple Leaf sales reported a 24% increase.

In 2013, there were 6.6 million Maple Leaf sales during the first quarter.  However, this year sales jumped an additional 1.6 million for a total of 8.2 million for the period.

Canadian Maple Leaf Sales Q1 2014

Furthermore, total sales last year reached 28.2 million and if the trend continues, we could see a new annual record between 30-32 million Silver Maples.

On the other hand, Gold Maple Leaf sales declined 35% from 269,000 oz during the first quarter of 2013 to 176,000 oz this year.   While Canadian Gold Maple sales are off compared to last year, the percentage decline in Gold Eagles was even greater.

Sales of Gold Eagles fell from 292,500 oz in Q1 2013 to 143,500 oz during the first quarter of 2014.  This is a staggering 51% decline y-o-y.

The reason for the decrease in Official Gold coins sales has everything to do with the Fed and Central Banks continued manipulation of the financial and precious metal markets.  The public has this notion that everything is fine once again in the financial markets and institutions.

Unfortunately, the opposite is the case as the Fed now has to resort to propping up the U.S. Treasury Market by covertly buying its own bonds through foreign intermediaries.  If there isn’t enough demand, well by gosh, the FED can print money… send it to a foreign Central Bank and force them to by the paper garbage.

Have we gone totally INSANE here?  I recommend watching the USA WatchDog interview between Greg Hunter and Jim Rickards.  Jim discusses this and other events in great detail.

The U.S. Dollar and economic system continues to disintegrate behind the scenes as the majority of Americans remain oblivious.  Even worse, it seems as if the precious metal investors are becoming bearish believing in the nonsense coming from MSM.  I got a kick today reading that Dennis Gartman says that “Gold is breaking down — it looks horrible.”

Whenever I need a good laugh… I put on CNBC and listen to Dennis Gartman’s gold forecast.  Just like the weather, if you wait around a while, Gartman’s predictions will change direction rather quickly.

The world is heading down the toilet and I am simply amazed at the lack of demand in the official gold coin market.  However, this was the Fed and Western Central Banks plan all along.  By destroying the paper price, they killed retail investment demand which allows China to purchase gold at a nice discount.

I believe Jim Rickards is correct.  The Gold (and Silver) price manipulation will end one day OUT OF THE BLUE.  There will be no warning.  And of course it will be too late to purchase gold or silver.

I have said it before and I will say it again….

GOD HATH A SENSE OF HUMOR.

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23 Comments on "First Quarter Canadian Maple Leaf Sales Up A Hefty 24%"

  1. “……. I am simply amazed at the lack of demand in the official gold coin market”.

    I am slightly surprised but at the same time silver maples and ASE sales are very strong. Those that have enough to buy gold…maybe some have capitulated and gone into equities. I guess the Asian market isn’t interested in 22K coins + ounce denominations. I think they prefer 24k and metric weights.

  2. What about the recent downgrade of the Monterey shale deposit in California being downgraded by 96% ???

    • JTM,

      Sorry for not replying sooner. Yes, this is BIG NEWS, however I have been following energy analysts Art Berman, Bill Powers and David Hughes for quite some time. David Hughes did a presentation on the Monterey Shale stating how the ultimate reserves were much lower. I already had a good idea that California Shale was going to be a big disappointment.

      News is starting to come out showing just how expensive it is to produce shale oil and gas. A lot of these shale players are loaded with debt… and they will never be able to repay it. It’s basically a Ponzi scheme. Without the Fed printing money and buying Treasuries, I believe the GREAT SHALE HYPE would have died a few years ago.

      steve

  3. I cannot afford gold, even with whatever markup…so I stack silver
    I also prefer Maples at .9999 %, I distrust the American Eagles because we may find out down-the-road that the .999% is as ‘fudged’ as the PM futures/paper markets

    …why else are older minted Eagles commanding a price that is significantly more than Spot—

    i’ll tell ya… the Eagles 4 YO or more are a lot less likely to be phoney…in 2014 the risk of altered silver content is 50% but in 2015 the Eagles will be up to 60% likely to be silver content phoney

    this is just my unproveable viewpoint…. I am going 70% Maples but still purchasing 30% Eagle & Buffalo

    rest easy

    • That is an excellent point! Fraud and corruption are rampant in all financial areas, buyer beware, eh?

  4. Colin Hayward | May 28, 2014 at 7:38 pm |

    As someone said recently, “the biggest, most obvious, bubble out there is COMPLACENCY.”

  5. petedivine | May 28, 2014 at 10:11 pm |

    What’s funny is that the majority of people know that their 401K and financial investments are supported by government fraud at the expense of some unlucky third world bastard. They don’t care. Its kinda of like a Sodom and Gomorrah tale. Find me an honest investor in the U.S. and I will spare your country. At this point I think everyone is aware that things are manipulated and in most cases a rising stock market is beneficial for a powerful retiring baby boomer generation.

    Gold and Silver are honest investments that have been masked to appear inadequate for the times. We will suffer the illusion of loss and those that look back and are weak will be lost. You must trust your own analytical abilities and look to your inner God for salvation and the strength to persevere. Society and Gov’t create and feed the fear that you are incorrect in assuming Gold and Silver are valuable. They will reinforce that fear until the fraud ends or you capitulate. Only the mentally strong and worthy will make it to the end. I think the Bible is full of tales where men have questioned their beliefs, some that come to mind are Lott, Job, and of course Jesus. Our faith in our analytical abilities and beliefs in P.M.s are bring tested. Funny how things repeat themselves over and over again throughout history. The Bible has a lot of lessons and wisdom that great men have made an effort to pass along into the future.

  6. The “sale” on gold & silver continues-I bought @$34.00/$32.00 and now I can by 1.5 x more at $19.00. Where else can you get such a deal? Can’t think of seeing ANYTHING drop in price as much as silver. The Fed must have a silver mine next to the forest/inkwell. Let the big boys keep playing their games and at $15.00 per ounce I might just ware out the postman’s suspension. Can we get the silver dealers to supply back supports to take care of the overworked delivery people? I would like to see some preventative measures instilled while waiting for Obama care to get up to speed.

  7. silverfreaky | May 28, 2014 at 10:50 pm |

    The question is how Long this testing time will be.If the Politician and Banksters play the “Rezession”
    for many years, silver cannot rise up.The money circulate in the financial system and they tell us the economy is bad.
    In the meanwhile People who save money not in stocks will loose it with the real Inflation.That is the trick.If they avoid to bring the money in the real economy the can play this game for years.
    In Germany for example People don’t buy stocks like in the USA.

    Greetings from Germany.Sorry for my english.

  8. 32,000,000 toz is about 1,000 tonnes and I guess ASE’s will gobble up 1,800 tonnes at the current rate this year. Other coins including philharmonics, koala etc will probably bring this years sales to about 130,000,000 oz or 4,000 tonnes roughly. My guess is bars which doubled in 2013 will stay the same or shrink slightly but over the year retail sivler sales globally should make about 250,000,000 toz in sales which would account for about 30% of production. Any bad news on the financial system before the end of the year which upsets perceptions to a significant degree is likely to advance retail demand significantly.

    It is retail investment demand for silver which will set the price when manipulation is abandonned. For gold it is governments’ purchases and gold’s use within the financial system that weighs most heavily on price.

  9. SilverHawk | May 29, 2014 at 3:39 am |

    The Austrians now want to see their gold. All 150 Tonnes. Germany has only had 5 tonnes delivered from the 150 request. The last country to see their gold was Germany, about a year ago? China is importing 4 tonnes a day. Will there even be 150 tonnes left for them to see? I guess we’ll have to wait for the next country to be refused a look, to know they’re out of gold. Or cash instead of delivery. They gotta be close to being out. China is beginning to start a gold exchange in Shanghai that will “compete” with COMEX and LBMA. Or will it become the ONLY international PM market once the west runs dry. I would think they’d price spot in Yuan, with a 100:1 ratio to the dollar, if that happens. The fat lady is warming up in the green room. Gotta be sooner than we think…

  10. Killed investor demand??? There is no investor demand in the West. Those who are able, are into facebook, Apple and Google. But in the East, they love it.

  11. great news…there is nothing but bad news…PM companies slashing capex, slashing exploration…and still losing money. Demand continues ramping vs. present and future supply being slashed…if you love PM’s, there is no better news.

    “In particular, the top 10 gold companies slashed capital expenditures by 25% to $16.6 billion, cut exploration expenditure by 33% to $1.2 billion, and decreased corporate costs by 8% to $1.2 billion, the Citi research said. The companies also prioritized higher grade ore in order to cut on-mine unit costs.

    But despite these cost-cutting measures, Citi estimates that about 75% of the industry is still burning cash. “The fact that gold companies tend to burn cash in good or bad markets to us accentuates the industry’s poor fundamentals,” the analysts wrote.”

    http://blogs.marketwatch.com/thetell/2014/05/29/gold-miners-are-stuck-in-a-cycle-of-value-destruction/?mod=MW_home_latest_news

    • the lower the prices go, the longer the price stays down is the greatest gift PM holders can ask for…

      the inventory drawdowns are happening, the pipeline for present and future supply is being kinked…the input costs just keep rising…nothing here to despair, this is the greatest gift…because supply is being crushed and demand @ records…the longer it takes to get to the resolution the greater the imbalance, the greater the upside.

      • Not really sure that in the short term I would call it the greatest gift PM holders could ask for. It can be pretty gut wrenching to be sitting on or watching serious wealth reduction.

        But somehow we keep the faith and that faith almost forces one to reduce average purchase costs by keeping on buying all the way down. Soon be down to two for the price of an original one!

        There seems to be a big difference in forecasting the future out there between the chartists predicting continuing falls and those looking at a very volatile and manipulated world. The laws of supply and demand must out one day.

  12. You are goofy. I pretty well believe you would suggest the disappearance of the Malaysian airliner, the crisis in the Ukraine, and Maya Angelou’s death can be linked to the “Fed’s manipulation.”

  13. I guess we are both impatient and worried. But we know what the end game is going to look like. I believe that the manipulators (of everything financial) will also be the future buyers when the big money will switch to gold and silver. At this moment they have to skin the mutual funds, pension funds and other prays, they still have some time to go at it. So let’s be patient and savor the good days that will soon come.

  14. Refreshing article,thanks.
    Shows you are getting somewhere when you get on 64.92.111.122
    Nice.

    • 64.92.111.122 /// “A DDOS (“Ping”) hacker attack on SurvivalBlog began just before midnight, GMT, on July 3rd. This was obviously timed for maximum effect, since the hackers assumed that the Sys-Admins at our server site would be on vacation. Thanks for your patience while we get the full site back up and running on one of our backup servers.”

      http://www.ingoldwetrust.ch /// “In Gold We Trust Under Attack Since a couple of months there have been several cyber attacks on this website. Often I have trouble reaching the server to write and publish articles, WordPress (the software I use that manages my site) is very slow and all sorts of errors appear; drafts are deleted and certain functions in the software stop working. Drives me nuts. That’s from the inside. From the outside, for all you readers, my website has been offline for many hours, in certain areas of the world sometimes many days…. I’m totally no expert in this field so I was tempted to think it was just bad luck and the problem would solve itself in time. However, the problem continued without any apparent technical reason. Even after some tips of my readers like using Cloudflare, the problem persisted.” Koos Jansen on March 20, 2014 at 10:24 pm

      beyondjimwillie.blog.com /// “Exciting week! After publishing Part One of the BARBAROUS RELIQUARY SERIES…I GET LOCKED OUT OF THIS SITE…and the back up site I carefully created “jus in case” TOO! Now… today… after Part Two going up on srsroccoreport.com … WITH an oblique reference to this situation…PRESTO… site gets unlocked…” May 27, 2014 @ 6:00 am

      Stever’s been gettin somewhere for quite some time. bud … maybe jus not exactly where you need him to go! .Got quite A FEW irons in the fire it seems! As always… birds of a feather… well, you know the rest!

      Refeshing… to see you helpin spread the word. Nice!

      • Sounds like that one of the pointers to Jim Rickards ‘snowflake’ moment will be when all these blogs are locked out of the ‘net.

        That will be the time when we will know that we will be be on our own.

        Just want to say thanks in advance.

  15. “The reason for the decrease in Official Gold coins sales has everything to do with the Fed and Central Banks continued manipulation of the financial and precious metal markets.”

    That is not accurate. I am in the industry and the reason gold eagle sales fell so far is that the U.S. mint had very large supply of backdated gold eagles. Gold eagles with dates of 2011, 2012, and 2013 that were never sold to the public. As a result, the mint put their distributors on notice that for every 2014 gold eagle bought from the mint they were required to buy one backdated gold eagle to work down this inventory. As a result Q1 2014 gold eagles are not a good representation of gold eagle sales in the industry. While gold eagle sales are down, I would guess the number is probably closer to down 20 to 30%. It is nowhere near 51%. The delta was made up of backdated gold eagles. b

    On the big increase in silver maples my best guess is because silver eagles were hard to get due to U.S. minting changes in December of 2013. The U.S. mint shut down production 2 weeks earlier in 2013 then in previous years. That meant that for the most part dealers did not have live sivler eagles and throughout the month of December were preselling the 2014 release of the silver eagle. This created basically 6 weeks of demand before the 2014 silver eagle was even released in mid January. A big backlog developed. In January buyers were faced with getting new orders of silver eagle in four weeks or receiving a silver maple today. This helped shift demand towards the silver maple.

    • Goldhawk,

      In the beginning of the year, yes, Gold Eagles sales were less because the U.S. mint told its authorized purchasers that they had to buy older coins along with the new. However, this is not the case any longer. And furthermore, Gold Maple sales are down considerably in the first quarter of 2014… and it is not due to an oversupply of 2012-2013’s.

      Furthermore, Silver Maple sales are up 24% in Q1 2014 compared to the same period last year. So, this had nothing to do with a do with a backup at the Royal Canadian mint.

      And lastly, Hedge Funds were dumping older Silver Eagles on the Market at the end of 2013…. the market had to absorb this supply. Even with that, there was record buying.

      steve

  16. Let Bernanke, or Yellen, or ‘Von Rompuy’ explain the buying of treasuries through Belgium. Or let Obama tell people why the FED & BIS trading desks are dumping paper gold. Or why two major Italian banks sold a large part of their holdings in the central bank of Italy… to the central bank of Italy.

    And let them ‘explain’ these facts on mainstream TV, prime time.

    And let’s have a look at ASE sales one month later.

    The majority is drowning in debt, lack of knowledge, and disinformation.

    Prime time is coming. Fools day is now.

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