Perth Mint Silver Bullion Sales Surge in September to 3-1/2-Year High

by CoinNews.net on October 18, 2019 · 0 comments

2020 Australian Kookaburra 1oz Silver Bullion Coin

A CoinNews photo of a 2020 Australian Kookaburra 1oz Silver Bullion Coin (obverse). The coin features a special 30th anniversary design dubbed the ‘double kook’.

Like a year earlier, Australian bullion demand in September grew for a fourth straight month for gold coins and gold bars and for a third straight month for silver coins and silver bars, according Perth Mint figures published earlier this month.

More notably, multi-month highs were reached. The Mint’s silver sales were the strongest since March 2016 and its gold sales the best since November 2018.

The monthly gains happened against a backdrop of falling precious metals with LBMA prices in September plunging 2.8% for gold and 6.1% for silver. The Mint’s silver bullion sales saw extra support from the early release of newly dated 2020 coins.

Bullion Sales in September 2019 and YTD

The Perth Mint sold 46,837 ounces in gold coins and gold bars last month, jumping 115.2% from the level reached in August but falling 25.1% from the tally hit in September 2018.

Year-to-date gold sales at 223,821 ounces are 17.6% lower than the 271,715 sold through the first nine months of last year.

September sales of the Mint’s silver coins and silver bars at 1,350,038 ounces came in 15.3% higher than the prior month and edged up 3.4% from September 2018.

Perth Mint silver sales for the year at 7,789,569 ounces are 18.1% higher than the 6,593,957 ounces sold in the same months of 2018.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from September 2018 to September 2019. The figures show monthly ounces of gold and silver shipped as minted products by 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
September 2019 1,350,038 46,837
August 2019 1,171,233 21,766
July 2019 987,040 21,518
June 2019 344,474 19,449
May 2019 681,582 10,790
April 2019 906,219 19,991
March 2019 935,819 32,757
February 2019 584,310 19,524
January 2019 828,854 31,189
December 2018 692,971 29,186
November 2018 876,446 64,308
October 2018 1,079,684 36,840
September 2018 1,305,600 62,552

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