Perth Mint Gold and Silver Bullion Sales Weaken in July

by CoinNews.net on August 12, 2016 · 2 comments

2016 Australian Kangaroo 1-10oz Gold Bullion Coin

Perth Mint bullion sales retreated in July

Demand for new Australian bullion coins and bars tumbled last month, the Perth Mint reported, with gold sales the lowest in at least 3.4 years and silver sales the weakest in 13 months.

These sales registered against advancing precious metals prices with London fixings in July logging gains of 1.6% for gold and 8.9% for silver.

Demand for new bullion was impacted by existing dealer inventories, the Perth Mint said:

"Slower summer sales in North America where distributors reported they were well stocked with product impacted Australian gold and silver minted products during July. Compared to the previous month, demand out of continental Europe also became subdued in the post-Brexit, holiday environment."

United States Mint bullion sales also retreated sharply last month.

Bullion Sales in July 2016

Perth Mint sales of gold coins and bars advanced by 16,870 ounces in July, the lowest monthly amount since CoinNews started tracking the Mint’s data in February 2013. The total is 46.2% lower than June and down 67% from July of last year.

Year to date sales at 249,585 ounces are still 13.6% higher than the 219,738 ounces sold during the first seven months of 2015.

July orders of silver bullion coins reached 693,447 ounces for the lowest monthly total since the Perth Mint delivered 384,586 ounces in June 2015. It marks declines of 43.2% from June 2016 and 7.1% from a year earlier.

The Mint’s silver coins have been on fire for much of the year, scoring monthly gains above 1 million ounces in every month but May and July. A strong boost came from 2016 Australian Kangaroo 1oz silver bullion coins, with demand exceeding expectations and sales topping 10 million since their release in September.

As for the January to July period, Perth Mint silver sales at 8,329,603 ounces are 134.1% higher than last year’s same seven-month total of 3,557,694 ounces.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from July 2015 to July 2016. The figures show monthly ounces of gold and silver shipped by the Minted Products division of The Perth Mint to wholesale and retail customers worldwide. It excludes sales of cast bars and other Group activities including sales of allocated/unallocated precious metal for storage by the Depository.

Perth Mint Bullion Sales (in troy ounces)
July 2016 693,447 16,870
June 2016 1,220,817 31,368
May 2016 974,865 21,035
April 2016 1,161,766 47,542
March 2016 1,756,238 47,948
February 2016 1,049,062 37,063
January 2016 1,473,408 47,759
December 2015 1,083,460 40,096
November 2015 1,145,239 31,664
October 2015 1,751,898 66,951
September 2015 3,349,557 63,791
August 2015 707,656 33,390
July 2015 746,700 51,088

 

{ 2 comments… read them below or add one }

Seth Riesling August 12, 2016 at 1:24 am

The Perth Mint Australia sold its unique 1kg gold kangaroo coin with a rare red Australian diamond embedded in it for the asking price of $1 million within 48 hours of placing it on display at the Mint’s main boutique at the 1899 building complex in Perth. The anonymous buyer was from Asia. Great PR stunt!

-NumisDudeTX

eric August 12, 2016 at 7:34 am

Seems like less and less of there coins are available to purchase directly from them here in the states… Like the new star trek set… I had to through a third party after buying the original directly from them… All that did was make it cost me more money…

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