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Royal Canadian Mint Limits Sales Of Silver Maple Leaf Coins, U.S. Mint Silver Eagles All Sold Out
Investors may wish to stock up on silver bullion coins when they become available to avoid shortages that are more than likely to occur in 2013. Read why...
This move comes one week following the United states of America Mint suspended sales of their 2013 American Eagle silver bullion coins following inventories sold out, saying it would ration or limit orders when sales resume. Each series of bullion coins are struck for investors and assured for weight and purity from the issuing government.
A statement provided by the Royal Canadian Mint identifies powerful demand because the catalyst for the Maple Leaf rationing:
"We are cautiously managing supply in the face of very high demand for SML (Silver Maple Leaf) coins to make sure all our distributors are served and we carry on to take sales orders," states Alex Reeves, RCM Senior Manager of Communications.
"Coming off powerful sales volumes in December 2012, demand to date remains very powerful for our Silver Maple Leaf and Gold Maple Leaf bullion coins. Particular (sales) numbers will probably be made accessible at our normal reporting intervals."
Sadly, because the statement implies, present Silver Maple Leaf sales aren't readily accessible. The Royal Canadian Mint publishes its sales stats in quarterly and annual statements. 2011 annual sales hit a record 23.1 million. The U.S. Mint also had a record year for its Silver Eagles in 2011 with sales of over 39.8 million. And like the U.S. Mint, sales remained powerful but retreated in 2012. In quarterly breakdowns for the Royal Canadian Mint, it logged Silver Maple Leaf sales of:
3.9 million in Q1 2012,
4.0 million in Q2 2012, and
4.8 million in Q3 2012
In short, in 2012 it moved 12.7 million bullion coins through the third quarter. The U.S. Mint through the first nine months of 2012 notched Silver Eagle sales of 25.795 million. Rare Coins, Silver Coins, Gold Coins, Learn more >> http://www.silverpricestoday.cc/
With that, a picture of current Silver Maple Leaf demand might be inferred from current U.S. Mint’s sales of Silver Eagles. 2013-dated American Eagle silver bullion coins launched on Jan. 7, 2013 and racked up record sales of 3,937,000 coins in one day. In less than two weeks, sales totaled 6,007,000. It was at that point when the U.S. Mint announced it had to rebuild its inventory.
In terms of the Canadian Silver Maple Leaf bullion coins, investors and collectors will most likely have to wait for the Royal Canadian Mint’s first quarter sales report to get an concept of the triggering demand level for its rationing procedure.
While gold’s 12-year rally will be the longest winning streak in no less than nine decades and prices are 12 percent beneath the record set in September 2011, its 7.1 percent gain last year was the smallest since 2008. Silver is trading 36 percent beneath its all- time high. The current jump in silver demand might be as some investors seek an option to gold’s “lackluster overall performance,”