Perth Mint Gold and Silver Bullion Sales Tumble in February

by CoinNews.net on March 17, 2017 · 6 comments

2017 Australia Kookaburra 1oz Silver Bullion Coin

CoinNews photo of a 2017 Australia Kookaburra 1oz Silver Bullion Coin

Australian sales of bullion coins and bars tumbled in February, according to the latest round of Perth Mint figures.

The Mint’s gold sales fell to their lowest level in six months and their silver sales more than halved from January.

"In line with the worldwide trend, demand for Australian bullion coins and bars was significantly quieter in February," the Perth Mint said. "Growing confidence in the prospect of improving economic conditions has seen increased demand for alternative assets at the expense of precious metals."

February sales of Perth Mint gold coins and gold bars at 25,257 ounces registered declines of 65.3% from January and 31.9% from February 2016.

However, for the year to date, gold sales total 98,002 ounces for a 15.5% increase over the 84,822 ounces delivered in the first two months of last year.

The Perth Mint sold 502,353 ounces in silver bullion last month, marking declines of 59.2% from the previous month and 52.1% from a year earlier.

Their silver sales tally to 1,733,220 ounces for the year, down 31.3% from last year’s opening two-month total of 2,522,470 ounces.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from February 2016 to February 2017. 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)
  Silver Gold
February 2017 502,353 25,257
January 2017 1,230,867 72,745
December 2016 430,009 63,420
November 2016 984,622 54,747
October 2016 1,084,231 79,048
September 2016 1,031,858 58,811
August 2016 376,461 14,684
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

 

{ 6 comments… read them below or add one }

Nels March 17, 2017 at 12:51 am

Who do you trust and how does some of these companies that sell gold and silver even know if they are selling the fake Stuff that I’m hearing more and more about. Can Coin News.net give us heads up on any information they know about?

Mark S. March 17, 2017 at 1:06 am

I normally buy US Silver Eagles an certified coins
are Perth Australian Mint coins any better than
US Mint

michael angiolillo March 17, 2017 at 8:19 am

I’m surprised this site has not discussed the release of the 2017 silver Krugerrands.

Seth Riesling March 17, 2017 at 10:36 am

michael angiolillo –

This coin blog website devotes approximately 60 percent of articles to US Mint products, 20 percent to Royal Canadian Mint products & 20 percent to Perth Mint Australia products. It rarely covers any other Mints such as the Royal Mint of Britain (oldest in the world at over 1,000 years old & produces coins for 60 different countries on contract), the Royal Australian Mint, the 5 official state Mints of Germany, the Austrian Mint (second oldest in the world), the Casa de Moneda de Mexico (over 500 years old official Mint of Mexico & our neighbor to the South), the Monnaie de Paris (official Mint of France) & many more of course. I think I might know the answer as to why this is the situation, but you may want to directly ask CoinNews blog writer Mike Unser.

-NumisDudeTX

Mark S. March 17, 2017 at 10:41 am

So other​-wise save my
money back in my
pocket

stevo April 4, 2017 at 10:20 pm

Nels,
If you’re looking for a legitamate source, the US Mint’s website has a list of Bullion dealers purchasing in bulk from them. Most of these dealers also buy from the foreign government Mints across the globe.

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