February sales of Australian bullion jumped for silver products but fell for gold products to their lowest point since October 2020, according to figures from The Perth Mint of Australia.
The Mint’s bullion sales set against plunging precious metals with LBMA prices (USD) in February tumbling 5.2% for gold and 10.7% for silver.
Perth Mint Gold Bullion Sales in February 2023
Perth Mint February sales of minted gold coins and bars combined to 52,241 ounces, posting declines of 18.9% from the prior month and 28.1% from February of last year. The monthly level was the lowest since sales of 38,367 ounces in October 2020.
"While still buoyant in historical terms, the result to some extent reflected the fact that we did not unveil any new gold investor coins during the month," said Neil Vance, General Manager Minted Products.
Perth Mint gold sales for the year to date at 116,636 ounces are 16.3% lower than the 139,360 ounces sold through the same period last year.
Perth Mint Silver Bullion Sales in February 2023
February sales of the Mint’s silver coins and bars reached 1,484,936 ounces, marking a 20.4% increase from January but a 9% decline from February 2022.
"Silver sales bounced higher, with available press time fully utilized over the course of the period. As a result, the Mint shipped everything it produced in February," the Mint noted.
Their year-to-date silver sales at 2,718,280 ounces are 33.4% lower than the 4,019,488 sold during the first two months of last year.
Monthly Perth Mint Gold and Silver Sales
Below is a monthly summary of Perth Mint bullion sales from February 2022 to February 2023. 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)|
The Perth Mint’s General Manager of Minted Products cited the fact that the Mint “did not unveil any new gold investor coins” in February as one of the more likely reasons for considerably slower sales. Perhaps counterintuitively, it nevertheless definitely makes me wonder exactly why anyone who chooses to first buy thousands of these extremely high-priced ducats and then stash them away for ages in a dark vault somewhere would even give a hoot what they look like.
I don’t understand. I mean we didn’t have any products available to buy this month, wonder why we didn’t have sales. But note silver did pick up. I see gold as $100 bill and silver as $1. If people are planning for a long hurt they probably expect to buy a whole lot of small value items rather than a couple huge purchases or services. Gold would seemingly just benefit those that would have tons of silver that take up lot of space. So they are trading their $100,000 worth of pennies for silver, and changing some of the silver… Read more »
“Good Ole taxpayer will pickup the tab for another bank bailout. Make sure those poor 1%ers get all their money. $250,000 per account per bank. More tax cuts coming and gas prices will go up to cushion their fall.” – Dazed and Coinfused That is as precisely on the money as I’ve ever seen this very type of situation and the government’s response to it explained, Dazed and Coinfused. You have layed out as neatly, succinctly, comprehensibly and also as thoroughly and comprehensively as possible a description of what has long begged to be made clear. Incidentally, I’m sure we… Read more »
Also, I thought about the medal and the wavy flag thing. And I looked closer. Even if that the case the T has a really short cross. Smaller in ratio to the I beside it. The next looks almost like a D as the top cross looks curved. And then an E but you can’t see the middle cross and if you could it would still be way bigger than the D, that is supposed to be an E. The scale is off. But I swear it DE and not ED. Either way, seems to be misspelled