March sales of Australian bullion sharply increased from the prior month for both gold and silver products, according to figures from The Perth Mint of Australia. Both were well lower, however, in the first quarter compared to the same period last year.
The Mint’s bullion sales were set against soaring precious metals in March, with LBMA prices (USD) jumping 8.5% for gold and skyrocketing by 16.4% for silver. The first-quarter results were mixed, with precious metals prices increasing by 9.2% for gold while, silver prices slid by 0.3%.
Perth Mint Gold Bullion Sales in March and First Quarter 2023
Perth Mint’s March sales of minted gold coins and bars combined totaled 80,541 ounces, the most since November. This represents an increase of 54.2% from the prior month, but a 34% decrease from March of last year.
"North American distributors reacted swiftly to developments in the banking sector, increasing the overall level of orders for both gold and silver minted products," said Neil Vance, General Manager Minted Products. "The local market also reflected the safe haven appeal of precious metals with a sharp uptake from our Australian clients."
The Perth Mint’s gold sales for the quarter were 197,177 ounces, which is 24.6% lower than the 261,357 ounces sold during the same period last year.
Perth Mint Silver Bullion Sales in March and First Quarter 2023
March sales of the Mint’s silver coins and bars reached 1,823,096 ounces, marking increases of 22.8% from February and 10.5% from March 2022.
First-quarter silver sales of 4,541,376 ounces are 19.9% lower than the 5,669,122 sold during the first quarter of last year.
Monthly Perth Mint Gold and Silver Sales
Below is a monthly summary of Perth Mint bullion sales from March 2022 to March 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) | ||
|---|---|---|
| Silver | Gold | |
| March 2023 | 1,823,096 | 80,541 |
| February 2023 | 1,484,936 | 52,241 |
| January 2023 | 1,233,344 | 64,395 |
| December 2022 | 1,634,751 | 60,634 |
| November 2022 | 1,315,293 | 114,304 |
| October 2022 | 1,995,350 | 183,102 |
| September 2022 | 2,579,941 | 88,554 |
| August 2022 | 1,655,334 | 84,976 |
| July 2022 | 2,465,513 | 79,305 |
| June 2022 | 1,523,765 | 65,281 |
| May 2022 | 2,217,582 | 98,515 |
| April 2022 | 2,119,491 | 80,941 |
| March 2022 | 1,649,634 | 121,997 |
I like getting physical, myself.
Actually. His real vault, or a small corner of it, was used in lord of the rings. Smaug was sleeping on his actual coins. If they had drones we may have seen a top down view of it.
Sounds to me like the global economy is hitting depression era phase. Banks crumbling. Smaller getting bought out overnight, yet to buy Twitter took months and congressional approval. Activision and Sony and their acquisition battle. But yet banks free to snatch up at discount rate, and if they are wrong and can’t right the ship, the gubmint will bail those banks out. Win win. They care less about money. They can print that whenever they want, it’s power that drives them mad.
D and C,
Don’t be too rough on the banks, after all my holdings in JPM was up nearly $10 a share, and C was up $2.26 a share on FriYEAH! And I don’t want you worrying about me as power and money only makes me “feel good” never mad.
I’ve got several of Perth’s kilo silver Kookaburra coins. I absolutely love accumulating 35.27 ounces of silver in a single coin! Plus the finish of these bullion coins looks as though they are Proof struck. Perth does an outstanding job of minting some of the nicest numismatics you can buy. Smaug, you’re going to have to fight me to get mine and I know your weak spot!
Who pays for anything in cash these days? I suppose a small percentage of people that aren’t credit worthy must, but these people are not important to the collective. I use my CC’s almost entirely which has benefits of not coming into contact with drugs and DNA residue! There’s almost nothing as dirty as paper currency.