Wednesday, March 7, 2012

US Mint Silver Sales Pass Gold Sales for February

While sales of US Silver eagles declined substantially in February from January which notched the 2nd highest sales total in the history of the US Mint silver eagles production, slipping under the radar is the fact that US Mint silver sales surpassed US Mint gold sales for the month by more than $5 million. 

February US Mint silver sales totaled $51.614 million, vs $47.508 million in US Mint sales for gold.

As our friend Eric Sprott would say, it is not physically possible for the silver/ gold ratio to remain above 50:1 when the ratio of investment flows into the metals are 1:1. 
With $5 million greater in investment flows into silver US Mint products than gold in February, this means investment flows in the US are purchasing approximately 60 times the volume of physical silver than physical gold, an astonishing and unsustainable number.

Chart courtesy