Perth Mint GSR

Discussion in 'General Precious Metals Discussion' started by goldpelican, Aug 21, 2012.

  1. goldpelican

    goldpelican Administrator Staff Member

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    The Perth Mint has just released the sales figures for July. With five months of publicly available monthly sales data on hand, I thought I would do a graph of the silver to gold sales ratio by ounces, and see if there's a trend.

    [​IMG]

    Over the last five months, the silver to gold sales at The Perth Mint has averaged 13.6oz of silver for every ounce of gold sold.

    What's the historical GSR again?
     
    goldpelican, Aug 21, 2012
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  2. fiatphoney

    fiatphoney New Member

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    I'd like to see how much of each is going to China. And how much more gold is going to Europe than silver due to VAT. In US we see sales have been more dollar for dollar ie 57 oz of silver for one oz of gold.
     
    fiatphoney, Aug 21, 2012
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  3. revlisify

    revlisify Member Silver Stacker

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    On the other hand, that also implies that people are spending 4 times more on Gold than Silver.
     
    revlisify, Aug 21, 2012
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  4. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Skewed. :)
     
    mmm....shiney!, Aug 21, 2012
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  5. alor

    alor Well-Known Member Silver Stacker

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    he table has turn to silver wow, this is huge deal!
     
    alor, Aug 21, 2012
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  6. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    Be interesting if you could compare the same months from last year.
     
    Eureka Moments, Aug 21, 2012
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  7. Levant

    Levant New Member

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    I like where I think you're going with this, but it's going to take a long time yet...
     
    Levant, Aug 21, 2012
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  8. RhythmDoctor

    RhythmDoctor Active Member

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    Great graphical analysis. This seems to tally up well with spot dips and rises when I compared this with Kitco spot charts... :)

    Is it merely coincidence about the GSR ratio? It's certainly interesting.
     
    RhythmDoctor, Aug 21, 2012
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  9. goldpelican

    goldpelican Administrator Staff Member

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    Interestingly (like fiatphoney reported for the US), at the retail investor level I'm seeing silver sales being much higher than gold sales, closer to the actual GSR. Wonder how much of The Perth Mint's reported sales are central bank buyers as opposed to private investors - that would certainly skew the ratio towards beaing gold heavy.
     
    goldpelican, Aug 21, 2012
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  10. Dogmatix

    Dogmatix Active Member

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    Good call there hotel 46, I think that's probably the answer
     
    Dogmatix, Aug 21, 2012
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  11. goldpelican

    goldpelican Administrator Staff Member

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    I'm not sure that's the total reason - wasn't there some figure like 100,000 1 kilo silver coins being sold year to date announced last year? Most of the silver coins are sold overseas, not locally.
     
    goldpelican, Aug 21, 2012
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  12. Dogmatix

    Dogmatix Active Member

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    It would still explain a 13.6oz ratio, IMO.

    100,000 kilo coins is only 100 tonnes. And according to the ratio, that is about 7.5 tonnes of gold equivalent.

    Doesn't most of our silver go to Germany and the USA anyway? Maybe we're talking different markets here. Eg, perhaps China buys most of our gold and Germany/USA buys most of our silver.
     
    Dogmatix, Aug 21, 2012
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  13. bron suchecki

    bron suchecki Active Member Silver Stacker

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    Those figures are just retail phone & online and wholesale coin dealers. It excludes our retail shop, Depository and the large bullion bank kilo bar type deals.

    The gold:silver ratio in Depository is different, but I'm not allowed to show those figures.

    Interestingly, the gold:silver ratio for GoldMoney (total holdings) is 1:44.5

    For BullionVault it is 1:10.6

    It is hard to read too much into these numbers as it depends on the business model and pricing/storage fee differences between each operator.
     
    bron suchecki, Aug 22, 2012
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  14. fiatphoney

    fiatphoney New Member

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    [​IMG]

    This for the US mint.
     
    fiatphoney, Aug 24, 2012
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