Canadian Maple Leaf Sales Beat All Records
According to the information just released by the Royal Canadian Mint, sales of Gold & Silver Maples are beating all records. Not only are Canadian Maple sales surpassing its own previous records, Gold Maple Leaf sales actually out performed U.S. Gold Eagles during the second quarter of 2013.
The Royal Canadian Mint just published its Q2 2013 Fiscal Report showing that it sold 403,000 oz of Gold Maples in the 13 week period ending on June 29th, 2013 compared to 165,000 during the same period last year. Furthermore, Silver Maple Leaf sales increased to 6.4 million Q2 2013 compared to 4 million in Q2 2012.
Here we can see that Silver Maple sales have increased 60% y.o.y (year over year) while Gold Maples are up a staggering 144%. As mentioned above, what is even more surprising is that Gold Maples have surpassed Gold Eagles during this time period.
The U.S. Mint sold 336,500 oz in Gold Eagles during the second quarter of 2013, whereas the Royal Canadian Mint recorded 403,000 in sales. Gold Maple sales were 20% higher than Gold Eagles during Q2 2013.
Canadian Maple Leaf sales year to date are on track to beat both 2012 and 2011 records. In the first 6 months of the year, Gold Maple sales were 664,000 oz compared to 302,000 oz in 1H 2012 and 502,100, 1H 2011. Silver Maples increased to 12.1 million up from 8 million, 1H 2012 and 11.4 million in 1H 2011.
Even though Silver Maple sales (+53%) are up considerably since last year, Gold Maples (+123%) have increased the most in percentage terms. Furthermore, total Gold Maple sales in 2012 were only 883,048 oz, while 2011's record was 1,150,285 oz. If the present trend continues, we may see 1.2-1.3 million oz of Gold Maple sales for 2013.
Additionally, Silver Maple sales are on track to reach 24 million oz in 2013 which will beat the sales of 18.1 million in 2012 and possibly the 2011 record of 23.1 million.
Together, Silver Maple and Silver Eagle sales will hit between 68-71 million oz in 2013. This is an amazing figure as it represents 9% of total world silver production of 787 million ounces in 2012. Also, we must remember this 9% investment demand is just from these two Official Mints.
If we consider the sales of additional commemorative silver coins as well as sales from the other official mints, total figures for 2013 will more than likely top 2011's total of 118.2 million oz (2013 World Silver Survey) by at least 10 million oz.
Even though sales of official gold and silver coins have picked up dramatically, this is only a preview of the huge demand to come in the future as the public wakes up to the great precious metals transfer of wealth.
I will be posting a new article at the SRSrocco Report on the average break-even price of silver in the Top 12 Primary Silver miners. Furthermore, I will be providing updated information on the energy issues that will be impacting the mining industry going forward.
Comments are always welcome at SRSrocco @ gmail.com
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