How Much Silver Bullion Was Sold By The Top Three Official Mints So Far This Year?

The top three official mints sold a great deal of retail silver bullion products in the first half of 2020. However, the sales figure could have been a great deal higher if the various government mints weren’t forced to shut down production. The top three official mints in retail silver bullion sales are the U.S. Mint, Royal Canadian Mint, and the Perth Mint.

According to the data from the 2020 World Silver Survey, for last year’s figures, the Royal Canadian Mint sold 25.8 million oz (Moz) of silver bullion products, followed by the U.S. Mint at 19.5 Moz and the Perth Mint with 12.7 Moz. The majority of the 19.5 Moz of U.S. Mint silver bullion products sold last year were from the 14.9 Moz of Silver Eagles and 1.5 Moz of the Five-ounce American The Beautiful Silver Coins with the remainder in Silver Eagle Proofs, collectibles, and various numismatic coins.

However, both the Royal Canadian Mint and the Perth Mint also sell silver bars. The Royal Canadian Mint sells 10 oz, 100 oz, and kilo silver bars besides its Silver Maples and various other official silver coins and numismatics. Unfortunately, since 2015, the Royal Canadian Mint no longer provides the sales figures for its Silver Maples. I will contact the Royal Canadian Mint to see if they will provide this data.

Regardless, if we look at the first half of 2020, here is the increase in silver bullion products from these top three official mints.

In the first six months of 2020, these top three official mints sold 34.9 Moz of silver bullion products versus 24.1 Moz during the same period last year. That turns out to be 10.8 Moz more silver bullion products sold 1h 2020, or 45% higher than during 1H 2019. We can see that the Perth Mint’s silver bullion sales nearly doubled 1H 2020 versus 1H 2019, likely due to mints ability to keep its operation open longer versus the U.S. and Royal Canadian Mints. Australia’s shut down due to the pandemic was less severe compared to the United States and Canada.

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