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Demand for Silver Intensifies, Canadian Mint Reports 24.2% Increase YOY

By admin 4 years ago 813 Views 1 comment

Silver_Maple_Leaf

The strength in physical continues. Once again, the Royal Canadian Mint reports record breaking numbers.

As we recently discussed, the Royal Canadian Mint reported its highest revenue in history, with $3.4 billion in revenue and $48 million in profit.

The main driver of this record breaking number was the sale of its ever popular Silver Maple Leaf, which saw a 55.8% year over year increase in 2013.

A key driver of this demand was the artificially low price of silver in 2013. That low price has carried over into the first quarter of 2014, which has been a mixed blessing for long term bulls of the poor man’s gold.

For those fully positioned, it has been a rough ride. For those with the fortitude and ability to stand the dollar cost average month over month, it has been an opportunity to acquire silver on the cheap.

The manipulators would like to see precious metals investors lose faith, causing a drop in demand. The exact opposite has occurred, with demand in silver bullion higher than ever.

The Royal Canadian Mint in its 2014 first quarter fiscal report states the following:

"Sales of Silver Maple Leaf (SML) coins increased 24.2% to 8.2 million ounces from 6.6 million ounces in the same period last year. The increase in SML sales reflects continued strong demand in North America, Europe and emerging markets such as Southeast Asia."

This shows that demand for silver, despite the recent take down in price, shows no signs of slowing. Continuation of this demand will lead to another record breaking year for the Royal Canadian Mint and another year where a massive amount of physical supply moves from West to East, never to return.

Demand for Silver Intensifies, Canadian Mint Reports 24.2% Increase YOY | My great Wordpress blog 3 years ago at 10:15 PM
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