Perth Mint Gold and Silver Bullion Sales Slow in October

2022 Australian Kookaburra 1oz Silver Bullion Coins - Obverse and Reverse
A CoinNews photo showing both sides of 2022 Australian Kookaburra 1oz Silver Bullion Coins

October sales of Australian bullion gold and silver products decreased from the previous month but were higher than a year earlier, according to figures from The Perth Mint of Australia.

Mint sales registered against a backdrop of soaring precious metals with LBMA prices in October marking gains of 1.5% for gold and 11.5% for silver.

Bullion Sales in October 2021

Perth Mint October sales of gold coins and gold bars combined to 59,750 ounces, dropping 39.5% from September while rising 55.7% from October 2020.

"While monthly volumes were high by historical standards, October sales of gold coins reflected more subdued demand in key markets such as Europe and the US," said General Manager Minted Products, Neil Vance

Year-to-date gold sales at 878,779 ounces are 55.7% higher than the 617,833 ounces sold during the same time last year.

Perth Mint October sales of silver coins and silver bars totaled 1,352,275 ounces, falling 24.5% from September while rising 10.1% from October 2020. As recently as June, the Mint’s silver sales at 1,823,029 ounces ranked third highest for a month according to CoinNews tracking data which dates to February 2013. (They were the second highest for a month in February at 1,830,707 ounces.)

"With inventories reserved for the new coin launches exhausted in the previous month, October silver sales reflected our factory’s full monthly output," Vance added.

The Mint’s silver sales for the year so far at 15,827,790 ounces are 10% higher than the 14,391,427 ounces sold during the same period last year.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from October 2020 to October 2021. 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
October 2021 1,352,275 59,750
September 2021 1,789,926 98,753
August 2021 1,467,229 53,976
July 2021 1,302,723 70,658
June 2021 1,823,029 72,910
May 2021 1,700,807 91,146
April 2021 1,798,210 101,379
March 2021* 1,600,000 130,000
February 2021 1,830,707 124,104
January 2021 1,162,884 76,103
December 2020 941,767 76,806
November 2020 1,119,296 84,158
October 2020 1,228,713 38,367

*Perth Mint published approximated sales data for March. Specifically, the Mint stated that during March it shipped "more than 130,000 troy ounces of gold and almost 1.6 million troy ounces of silver."

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