Perth Mint Gold Sales Rally in October

2016 Australian Kangaroo Silver Bullion Coin
The Perth Mint in October had to allocate sales of its silver coins

Demand in October for Australian bullion products remained exceptionally strong, according to Perth Mint sales figures released on Friday, Nov. 5, 2015.

Gold sales surged the most in over a year and sales of silver coins had to be limited as demand exceeded supply.

Perth Mint orders of gold coins and gold bars ended at 66,951 ounces last month, climbing 5% from the 63,791 ounces delivered in August and surging 21% from the 55,350 ounces sold in October 2014. The monthly haul was the highest since sales of 68,781 ounces in September 2014.

For the January through October period, gold sales at 383,870 ounces finished 10% lower than last year’s first ten-month total of 426,594 ounces.

October sales of Perth Mint silver coins at 1,751,898 ounces was 47.7 % lower than the 3,349,557 ounces in September — the highest on record since CoinNews started tracking the Mint’s data in February 2013. Sales for the month jumped 167.1% higher than October of last year when buyers grabbed 655,881 ounces. Perth Mint clients could not order as many coins as they wanted.

"In October, our ability to supply silver coins returned to volumes dictated by standard weekly manufacturing capacity," commented Neil Vance, Perth Mint Group Manager of Minted Products. "As demand remained extremely strong, we had to allocate coins to clients worldwide."

The Mint was able to meet demand in the previous month, according to Vance, because it had produced early and stockpiled 2016-dated Australian Silver Kangaroo bullion coins in preparation of their release on September 21, 2015.

For the year so far, silver sales combine to 9,366,805 ounces for a 50.2% increase over the same period last year when they reached 6,237,900 ounces.

Perth Mint Gold and Silver Sales by Month

Below is a monthly breakdown of Perth Mint bullion sales from October 2014 to October 2015.

Perth Mint Bullion Sales (in troy ounces)
Silver Gold
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
June 2015 384,586 31,019
May 2015 337,511 21,671
April 2015 472,273 26,545
March 2015 638,557 34,260
February 2015 392,114 31,981
January 2015 585,953 23,174
December 2014 477,731 40,211
November 2014 851,836 49,904
October 2014 655,881 55,350


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