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.
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.
I will continue to put out updates as the Mints release their sales figures.
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My guess is June ’21 sales figures ARE for or include type 2 [new design] coins.
However they may not have shipped those out yet to the authorized purchasers. If they have, they may have to OK the date they can be released for sale to the public and other dealers.
I base that partly on how retail dealers explained on their websites when they would be shipping [all the while taking advanced orders with payment].
Dealers are pretty certain they can get large quantities, as dealers that aren’t even authorized purchasers are offering for sale mint cases [“monster boxes”] of GOLD EAGLES, not just silver eagles.
“Arrives inside of individual plastic flips, tubes of 20 coins, or mint-sealed Monster Boxes of 500 coins!”
Well 500 Eagles right now from one retail dealer [JMB] is:
ACH / Check / Wire:
$969,785.00
And while another dealer may have a lower price, just the fact they are allowing me to load this quantity of order in my cart is surprising.
I’ll reiterate my prediction of January. I’m betting we’ll see at least 50 million in Silver Eagle sales by the end of the year. If demand is honored, that is.
We’ll also probably see an all-time record sales month along the way (we’d almost have to, in order to reach 50 million, at this point).
Anyone out there know what the current monthly record is, by the way?
It’s hard to gauge overall retail demand for silver without Silver Eagles available [except for secondary market and advance sales for type 2 ASE’s].
ASE’s are wildly popular. Considering .999 ASE’s are no better than other sovereign .999’s or .9999’s, it’s amazing. But they are. And if premiums steadily drop to something like $5 or $6 over spot, they will sell all they can mint this year. They may anyway.
Well, the way I see it, we are facing 16 months of non-stop shortages and pent-up demand. Sure, they’ve been selling Eagles since Covid-19 hit. But first there was the virus shutdown, then the 2020-2021 changeover, then the reissue changeover, now the reissue. And of course all the excuses. The perfect storm.
I think that all this will lead to something we haven’t seen before. Once the sales start going ballistic, the publicity will create a very positive feedback loop. The public’s awareness of silver has dramatically changed since March 2020. I’m sure we’ve all seen and heard the dramatic increase in silver chatter across the board. Perhaps Pandora’s Monster Box has finally been opened.