Mints still sell a lot of gold and silver coins

The demand for gold and silver coins is still significantly higher than before the corona pandemic. This is evident from figures from several leading mints. For example, the Perth Mint in November 115,872 troy ounces of Gold Coins and give birth, an increase of 94% compared to a month earlier and an increase of 38% compared to the same period last year. Silver sales rose to 1.53 million troy ounces in November, up 13.2% from a month earlier and 37% more than in November last year.

The Royal Canadian Mint, Canada's official mint, continued to achieve good sales figures this year. Over the first three quarters of this year, the mint earned $757.9 million to the sale of precious metals. In doing so, it almost matched its profit of $759.3 million over the same period last year. This while the Canadian mint, known for its gold and silver Maple Leaf coins, still managed to increase its income from the sale and storage of precious metals in the corona year double compared to 2019.

The investment coins are also selling like hot cakes at the US Mint, the American mint. This mint is known for its gold and silver Eagle coins. Although the sale of gold coins in November was somewhat lower than in October, the total for the whole of 2021 was over 51% higher than in the same period last year. This year, the US Mint has already sold 1.2 million troy ounces of gold coins, compared to just under 800,000 troy ounces in the same period last year. The sale of Silver Coins At 28.2 million troy ounces since the beginning of this year, it is a few percent behind last year. Compared to 2019, however, there has been a doubling in sales figures.

Mints still sell a lot of gold coins

Gold and silver coins remain popular

Last year, we already saw a run on investment coins due to the corona pandemic. Uncertainty about the economic outlook caused a flight to precious metals. Precious metals also benefited from large-scale fiscal and monetary support measures and the further decline in interest rates. At the beginning of this year, there was the effect of the Silversqueeze bee. We then saw a short-lived spike in demand for silver coins.

The precious metals market remained busy this year as well. Savers and investors see that interest rates remain low, while the inflation is increasing rapidly. That gave a strong boost to the demand for coins and bars this year. Especially in recent months, we have seen an increase in the demand for precious metals.

Mints and smelters responded to the corona crisis last year by further scaling up their production. This year, the gold price has been somewhat lower, but figures from mints confirm that the precious metal is still very popular.

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This contribution comes from Geotrendlines