Silver Maples Setting Records

by Louis Cammarosano, Smaulgld Silver sales were up 19.3% year over year in Q1 2016 from 8.9 million ounces in the same quarter in 2015. Canadian Mint more than doubles its coin production in first quarter in preparation of “anticipated higher demand this summer”. The Royal Canadian Mint released its first quarter 2016 report this week. The report showed that Royal Canadian Mint first quarter 2016 silver sales increased 19.3% year over year from the first quarter of 2015. (10.6 million ounces vs. 8.9 million ounces) First quarter 2016 silver sales topped the quarterly silver sales record at the Royal Canadian Mint of 9.5 million ounces set in the third quarter of 2015.

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Silver Sales at the Royal Canadian Mint in the 1st Quarter 2016

Sales of Canadian Silver Maple Leaf coins and bars set a record in 2015 with 34,300,000 ounces sold, an increase of 5,200,000 ounces, or 18% from 2014’s then record sales. With a record first quarter already booked, the Royal Canadian Mint is anticipating another record year for silver sales. Silver sales at the Royal Canadian Mint in 2015, while a record, were curbed by a lack of products to sell as Canadian Silver Maple Leaf coins and ten ounce silver bars were sold out for a few months during the year.

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